**We are acting in the sale of the above property and have received an offer of £74,250. Any interested parties must submit any higher offers in writing to the selling agent before exchange of contracts takes place.**
Offered to the market as a renovation project, this one-bedroom quarter detached house offers an excellent opportunity to DIY enthusiasts to take on a manageable renovation project to either rent out or flip. The property is presented in poor condition but the size and value of it means that once cleared of contents it is a simple case of replacing the kitchen and bathroom, redecorating inside and out and replacing the floor coverings. Other similar-sized properties have been selling at over £100,000 so there is a good margin to be made. Economy 7 heating, double-glazed windows in wood frames, and communal off-street parking.
Location
Foxholes is a small village situated in the Ryedale district of North Yorkshire. It's 9 miles from the seaside town of Scarborough, 11 miles from Bridlington, and 10 miles from Driffield. It's close to amenities including schools and shops with wonderful contryside walks through the Yorkshire Wolds.
THE ACCOMODATION COMPRISES:
ENTRANCE
With door to the side aspect, understairs cupboard, stoarge heater and power point.
KITCHEN
With partially tiled walls, a basic range of wall and base units, sink, electric cooker point and plumbing for an automatic washing machine..
LOUNGE
With box window to the front aspect, storage heater, and TV point.
FIRST FLOOR LANDING
Airing cupboard and loft access.
BEDROOM ONE
Window to the front aspect and storage heater.
BATHROOM
With grey 3 piece bathroom suite comprising of:- paneled bath with electric shower over, sink, WC and wall mounted fan heater.
GARDEN
Small front open plan lawned garden.
PARKING
There is beleived to be a communal parking area to the front providing off street parking.
SERVICES
Mains, water , electrictriciy and drainage are believed to be connected but have not been tested.
TENURE
The property is held under freehold title with vacant possession on 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 'A'.
EPC - D (55)
VIEWING
Strictly by appointment with the sole agents on 01377 241919.
Tenure : Freehold
Council Tax Band : A
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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