House For Sale £78,000
UK Property Auctions excited to bring to the market this excellent investment property
Description
The property is let on the current government backed Long term contract for social housing use with a major Blue chip plc, There are no other costs for the owner as other than insurance & annual Gas certification. There is no Council Tax, Utility Bills are all covered within the contract. No voids…no maintenance unless structural…no management. This saves the investor time and money. The leases are 5 to 10 years. Due to these long leases banks do not want to lend. Thus we sell for cash. The property is currently achieving between 7% and 8% yield
*Guide Prices and Reserve Prices*
Each property sold is subject to a Reserve Price. The guide Price is issued solely as a guide so that a buyer can consider whether to pursue their interest. A full definition can be found within the Buyers Section of our website.
*Unconditional Online Auction Procedure*
The Purchaser shall pay a 5% deposit (subject to a minimum of £3,000) upon the fall of the hammer. In addition, a Buyer-s Premium of 3% or minimum of £1995.00 + VAT and contracts are exchanged. The purchaser is legally bound to buy, and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated). The Agent has not tested the utilities, appliances, or inspected the roof space. The floor plans and dimensions are for guidance only.
*Pre /Post Auction Offers*
Some vendors will accept offers prior to auction, Whether the property sells pre or post auction the property is sold under common auction conditions this is inclusive of any special conditions contained within the legal pack for the property.
*Legal Pack*
The legal pack will be available online at least seven days prior to sale ending. It is the responsibility of the Buyer to have read and understood all parts of the legal pack and the conditions of sale. Upon bidding on the property, it will be assumed that you have read and fully understood the legal pack and your obligations.
Description
The property is let on the current government backed Long term contract for social housing use with a major Blue chip plc, There are no other costs for the owner as other than insurance & annual Gas certification. There is no Council Tax, Utility Bills are all covered within the contract. No voids…no maintenance unless structural…no management. This saves the investor time and money. The leases are 5 to 10 years. Due to these long leases banks do not want to lend. Thus we sell for cash. The property is currently achieving between 7% and 8% yield
*Guide Prices and Reserve Prices*
Each property sold is subject to a Reserve Price. The guide Price is issued solely as a guide so that a buyer can consider whether to pursue their interest. A full definition can be found within the Buyers Section of our website.
*Unconditional Online Auction Procedure*
The Purchaser shall pay a 5% deposit (subject to a minimum of £3,000) upon the fall of the hammer. In addition, a Buyer-s Premium of 3% or minimum of £1995.00 + VAT and contracts are exchanged. The purchaser is legally bound to buy, and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated). The Agent has not tested the utilities, appliances, or inspected the roof space. The floor plans and dimensions are for guidance only.
*Pre /Post Auction Offers*
Some vendors will accept offers prior to auction, Whether the property sells pre or post auction the property is sold under common auction conditions this is inclusive of any special conditions contained within the legal pack for the property.
*Legal Pack*
The legal pack will be available online at least seven days prior to sale ending. It is the responsibility of the Buyer to have read and understood all parts of the legal pack and the conditions of sale. Upon bidding on the property, it will be assumed that you have read and fully understood the legal pack and your obligations.
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