**For sale by online auction on 20th March 2024. Guide Price : £130,000 - £140,000**
A traditional semi-detached house that has been well maintained and is offered to the market at an attractive guide price as a good investment opportunity. The gas centrally heated and mainly double glazed accommodation is complimented by a low maintenance garden and detached single garage. In brief it comprises; Porch, Entrance Hall, Living Room, Dining Room, Conservatory and kitchen on the ground floor. Landing, three bedrooms and shower room with separate WC on the first floor.
Location
Situated just off Queensgate the property is convenient for the Park, recreation grounds, access to town, school, college etc. It also lies within comfortable walking distance of the beach.
Accommodation
Ground Floor
Porch
Entrance Hall
With burglar alarm controls, under stairs storage cupboard housing the gas fired central heating boiler, double radiator and stained glass window with secondary double glazing.
Living Room
With electric fire set in a traditional fireplace, bay window, double radiator, picture rail and TV aerial point.
Dining Room
With ornamental fireplace, double radiator, TV aerial point and coving to the ceiling. A door opens into:
Conservatory
With single radiator, double doors opening onto the garden, two wall light points and blinds to the windows.
Kitchen
With one and a half bowl sink with mixer tap, base, wall and glazed display units, gas cooker, ceramic tiled floor, single radiator, side entrance door and plumbing for an automatic washing machine.
First Floor
Landing
With access to the roof space and stained glass window with secondary double glazing.
Bedroom One
With fitted wardrobes and drawers, single radiator and TV aerial point.
Bedroom Two
With fitted wardrobes and drawers, single radiator and TV aerial point.
Bedroom Three
With single radiator and picture rail.
Shower Room
With large shower cubicle equipped with an electric shower, pedestal wash hand basin, double radiator and fully tiled walls.
Separate WC
With WC fitted with a high level cistern.
Outside
The property provides ample off street parking with a private drive and graveled forecourt garden. The drive leads to a detached concrete sectional single garage. The rear garden is landscaped for low maintenance and benefits from two garden sheds.
Viewing
Strictly by appointment with the auctioneers on 0845 400 9900
EPC rating: TBC
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12.00 pm on Monday 18th March 2024 and closing on Wednesday 20th March at 1.00pm. 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 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
Tenure : Freehold
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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