A fantastic opportunity for improvement or letting investment. A vacant 5/6 bedroom semi-detached house with HMO license, located in a popular residential area close to the town centre. Externally the property enjoys a large front garden and rear enclosed yard. An estimated rent of £3,000 - £3,600 PCM depending on condition and occupancy, gross yield gross yield 12.4% - 14.9% PAX.
Our client does not hold a certificate of lawfulness but has confirmed that the property was converted and used as a HMO prior to the enactment of the Article 4 Direction on the 25 November 2018. Therefore, the use of the property as Class C4 small HMO was enacted in accordance with permitted development rights and is therefore the lawful use. A copy of the HMO license dated 2011 - 2016 and 2017 - 2022 can be found in the legal pack.
Auction
To be sold by online auction (conditional) on Thursday 30th January 2025 with an 8 WEEK EXCHANGE, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Reservation Deposit
The buyer is required to sign a Reservation Agreement and make payment of a non-refundable Reservation Deposit of 2.4% of the sale price subject to a minimum of 6,000 to the Auctioneer in return for the grant of the Exclusivity Period. The Reservation Deposit forms part of the purchase price for the property.
Exclusivity Period
Exclusivity Period means the period of 56 days from the date the Reservation Deposit is received by the Auctioneer, during which the Buyer and Seller will endeavour to exchange Contracts for the Transaction. Full details and a sample copy of the Reservation Agreement and Terms and Conditions are available in the Legal Pack.
Additional fees
Please ensure that you check the Legal Pack for each lot that you are interested in, prior to bidding. Paid in addition to the purchase price on completion, the Buyer shall reimburse the Seller's solicitors in respect of disbursements incurred in obtaining the Local Search results, Drainage search results and Environmental search results £396.00, and the sellers auction fees relating to the sale charged at 2.4% inc VAT.
Legal Pack
Legal Pack is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property and you are required to complete your own due diligence before bidding.
Pre-auction offers
These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are on the basis of the Reservation Agreement and Terms and Conditions.
EPC rating
D
Tenure
Freehold with vacant possession.
Council tax band
A - Salford
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every 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.
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If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
Whether you’re looking to sell or let your property, we can provide you with a free, accurate valuation based on our expert knowledge and the latest trends in your local area.
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