House For Sale £165,000
Okehampton, Devon

Agent Note: This property will no longer be offered via Private Treaty. This HMO is being offered via Modern Method of Auction. Do not hesitate to register your interest with us and discuss further details, all bids will be on an auction basis.

Situated within the heart of the market town Okehampton, stands this deceivingly large HMO (House of Multiple Occupancy).

Currently the property is set up with six individual letting rooms, however subject to obtaining the necessary consents, there could be the potential to split the property into three self-contained units.

This is a fantastic opportunity for prospective investment, offering instant return as a result of all rooms being currently occupied.

This is a unique opportunity to purchase 1 of the 9 registered HMOs in Okehampton. Upon entry, the lower ground floor level can be accessed via an internal entry point. The ground floor layout comprises of three bedrooms, including a communal kitchen and practical shower room facilities.

Continuing up to the first floor, we have further offerings of three bedrooms. Orientated to the front of the property, we have one single and one double bedroom. A highly noticeable feature of these rooms are the large bay windows providing an abundance of natural light. A further single bedroom, plus communal kitchen and shower room facilities can be observed on this level.

The second floor takes host to a self-contained space, offering private living accommodation. This floor offers an efficiently sized kitchenette, shower room and living/bedroom. A perfect addition to this already spacious HMO.

The property in general is in good working order, however could benefit from some modernisation throughout communal and living quarters. With the opportunity for cosmetic improvements, there is then further scope for a revised increase of rental income under future ownership.

Auctioneer Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

The town of Okehampton is located on the edge of Dartmoor and offers a wide range of amenities including a swimming pool complex, several supermarkets, primary and secondary schools, golf course and a variety of local sports clubs.

The Cathedral and University City of Exeter is within 22 miles with its intercity rail and motorway links, whilst the market town of Holsworthy is some 15½ miles.

Bude and the North Cornish Coast are some 25 miles and Torrington and the acclaimed RHS Gardens are also some 15 miles distant.