Good afternoon, I hope you all had a good weekend?
I have just come across this property on Rightmove and it’s not going to suit everyone but looking at the figures it could make someone a very good investment indeed….
It is clearly advertised to cash buyers only (I’m not the reasons why but might be worth asking the estate agent)
CASH BUYERS ONLY: Offered for sale with tenant in situ currently paying £550 PCM is this duplex studio apartment which is located within the Town Centre. The property is an ideal investment. The accommodation briefly comprises of: communal entrance to the front of the building, or a gated secure private entrance to the rear of the apartment which leads into a fitted kitchen/diner which leads into the hallway, fully fitted shower room with stairs rising to first floor landing, door to lounge/bedroom. Benefits include gas radiator central heating, Upvc double glazing, built in oven and hob. The property is offered with no chain and is in good decorative order.
This property is for sale by the Modern Method of Auction which is not to be confused with Traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer’s solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or it the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 4.2% including VAT subject to a minimum of £6,000 including VAT which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgment of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed Reserve Price which is generally no more than 10% in excess of the Starting Bid, Both the Starting Bid and Reserve Price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by Midland Property Auction powered by Iam-Sold. TO VIEW OR MAKE A BID – Contact HM/NPS on 01604 622205 or visit: www.harrisonmurray.co.uk.
Depending on what you manage to get the property for you could have a yield as high as 11%!
If you take the plunge and get this property, I’d love to know what you get it for, so let me know how you get on!