FOR SALE by ONLINE AUCTION on WEDNESDAY, 22nd MAY 2024, at 1:00 pm - GUIDE PRICE £95,000
The established three-bedroom mid-terrace house offers an excellent opportunity for DIY enthusiasts and investors to purchase a manageable renovation project to start, or add to, a property portfolio. The property benefits from gas-fired central heating and double glazing in wooden frames; however, it would benefit from internal modernisation and redecoration.
Location
The property faces the main street of this popular Village and enjoys off-street parking to the rear. North Frodingham offers a basic range of amenities and is located approximately 6 miles East of the Market Town of Driffield.
Accommodation
Ground Floor
Entrance Hall
With double radiator, coving to the ceiling, thermostat for the central heating and under stairs cupboard.
Living Room
With enclosed living flame gas fire (condemned) set in a traditional fireplace, TV aerial point, single radiator, coving to the ceiling, dining area with double radiator, and patio doors fitted with electric security shutters.
Kitchen
With a stainless steel sink, base and wall units, larder cupboard, gas and electric cooker point, plumbing for an automatic washing machine, single radiator and rear entrance door fitted with an electric security shutter.
First Floor
Landing
Bedroom One
With single radiator and fitted wardrobes, knee hole dressing table and coving to the ceiling.
Bedroom Two
With a single radiator and coving to the ceiling.
Bedroom Three
With a single radiator and coving to the ceiling.
Shower Room
With a large shower cubicle (never been used), pedestal wash hand basin, low level WC, fully tiled walls, single radiator, and airing cupboard.
Outside
To the rear of the property is a low-maintenance area of an enclosed garden and a garden shed. A pedestrian gate gives access to the parking space that is accessed off South Townside Road.
Viewing
Strictly by appointment with the auctioneers on 0845 400 9900
EPC rating: C
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12.00 pm on Monday 20th May 2024 and closing on Wednesday 22nd May at 1.00pm. To register to bid and further legal information relating to this lot please go to auctionhouse.co.uk/hullandeastyorkshire.
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer’s offices, with the solicitors and online at auctionhouse.co.uk/hullandeastyorkshire, before the date of the auction.
Additional Fees
The purchaser will be required to pay an administration charge of £900 (£750 plus VAT) subject to a minimum of 0.3% of the sale price including VAT and a buyer’s premium of £600 (£500 plus VAT) in addition to the purchase price of the property.
Guide Price
Guides are provided as an indication of each sellers minimum expectation. They are not necessarily figures which a property will sell for and may change at any time before the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction), which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Disbursements
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Online bidding
If you want to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process: youtube.com/watch?v=ImXr4HXR36c
To register to bid please visit : auctionhouse.co.uk/hullandeastyorkshire
Tenure : Freehold
Council Tax Band : B
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 0 | ||
| £250k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
| Tax Band | % | Taxable Sum | Tax |
| less than £250k | 3 | ||
| £250k to £925k | 8 | ||
| £925k to £1.5m | 13 | ||
| rest over £1.5m | 15 |
| Tax Band | % | Taxable Sum | Tax |
| less than £425k | 0(5)** | ||
| £425k to £625k | 5 | ||
| £625k to £925k | 5 | ||
| £925k to £1.5m | 10 | ||
| rest over £1.5m | 12 |
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