FOR SALE by ONLINE AUCTION on WEDNESDAY, 22nd MAY 2024, at 1:00 pm - GUIDE PRICE £170,000
This individual property is in need of general renovation and updating of internal fittings making it a great opportunity to investors and DIY enthusiasts looking for a manageable renovation project. The oil centrally heated and mainly double glazed accommodation briefly comprises: living room, dining room, kitchen, conservatory, 3 bedrooms and a family bathroom. Externally the property benefits from sitting on a large plot of land where there is a large detached garage and ample off-street parking.
Location
The property is located just outside the village of Whitley and is conveniently located within a 5-minute drive from Whitley Bridge Train Station which provides direct services to Goole and Leeds. The M62 Motorway is also less than five minutes drive away. Interested parties should note that although the property is located outside the village and enjoys some open countryside views, it does neighbour a scrap yard on two of its boundaries.
Accommodation
Ground Floor
Porch
With tiled floor.
Entrance Hall
With understairs cupboard, double radiator and staircase leading off.
Living Room
With open fire in a traditional fireplace, two single radiators, coving to the ceiling and TV aerial point.
With base and wall units, electric cooker point, plumbing for and automatic washing machine, double radiator and rear entrance door.
ConservatoryDining Room
With storage cupboard, sliding doors to the conservatory, coving to the ceiling and double radiator.
First Floor
Landing
With airing cupboard and access to the roof space.
Bedroom 1Bathroom
With four piece suite including corner bath, shower cubicle with electric shower, pedestal wash hand basin, low level WC, fully tiled walls and radiator.
Outside
The property stands on a generous plot with gardens to the front, side and rear. A private side drive leads to a detached single garage. There is an external WC that also houses the oil fired boiler. A brick coal shed adjoins the garage and various timber sheds and a greenhouse are located behind the garage.
Tenure
Freehold with vacant possession upon completion.
EPC Rating: F(36)
Services
Mains water and electricity are connected. Drainage is believed to be to a septic tank. None of the services or appliances have been tested.
Local Authority
This property falls within the geographical area of the Selby District Council and is listed as being in Council Tax Band D.
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. For 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 £900 (£750 plus VAT) in addition to the purchase price of the property.
Disbursements
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
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.
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
Tenure : Freehold
Council Tax Band : D
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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