FOR SALE by ONLINE AUCTION on WEDNESDAY 24th JANUARY 2024, at 1:00pm
Standing on a slightly elevated plot at the foot of the ever-popular Mount, close to Scarborough Road, this traditional three-bedroom semi is offered to the market as a complete renovation project. The property has been in the same ownership for decades and would now benefit from a comprehensive programme of modernisation. The property does benefit from uPVC double glazing but other than that, renovation works required include: rewiring, installation of central heating, replacement of kitchen and bathroom, redecoration and new floor coverings. The property is an excellent project for a competant DIY enthusiast to tackle and project manage skilled tradesmen where required.
Location
The Mount is located off Scarborough Road and the location of this property at the bottom of the road makes it very convenient for access to the Town Centre and the local schools. Driffield has a great variety of local shops, restaurants, and transport links including a railway station, a local market on a Thursday, and is within easy traveling distance of the east coast, Beverley and the Yorkshire Wolds.
Accommodation
Ground Floor
Entrance Porch
Entrance Hall
With wall mounted gas fired convector heater and understairs cupboard.
Living Room
With living flame gas fire (not tested) and TV aerial point.
Sitting/Dining Room
With a tiled open fireplace (not tested).
Kitchen
With sink, base units and a walk-in pantry.
Rear Lobby
WC
With low-level WC.
First Floor
Landing
With an airing cupboard housing the hot water tank.
Bedroom One
Bedroom Two
Bedroom Three
Bathroom
With an encased enamel bath and pedestal wash hand basin. Wall mounted electric heater.
Separate WC
With low level WC.
Outside
To the front of the property is an area of garden and a private drive providing off street parking. To the rear is a good-sized garden which would also benefit from some TLC. Greenhouse.
Services
Understood to be connected to main electric, water, gas, and drainage but the services have not been tested.
Tenure
The property is Freehold and offered with the benefit of vacant possession upon completion.
Council Tax Band
Council Tax is payable to the East Riding of Yorkshire Council. The property is shown on the Council Tax Property Bandings List in Valuation Band C.
Viewing
Strictly by appointment with the Auctioneers on 0845 400 9900
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 22nd January 2024 and closing on Wednesday 24th January at 1pm. For further legal information relating to this lot please log on 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 on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.
Additional Fees
The purchaser will be required to pay an administration charge of £750 (£625 plus VAT) and a buyer’s premium of £480 (£400 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 prior to 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
Tenure : Freehold
Council Tax Band : C
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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