In recent years I've ignored properties that are going to auction, mainly because Auctions have become a way of vendors selling their properties at inflated prices rather than banks and mortgage companies getting rid of their stock for the best money they can.
One has popped up today though that may be different - this is off to Harman Healy in London, which is more the latter type of auction than the former. As such I suspect it is a bank repossession or similar. A visit to the capital will put off the local buyers who drive the price up, so there may be an opportunity to pick this up at a decent price if you're prepared to have a day out!
The advert for the property is here : http://www.rightmove.co.uk/property-for-sale/property-62329423.html which contains details about viewings and management packs etc.
It's a bed apartment in Cliftonville Court - a GOOD LOCATION right next to the General Hospital, and 5 minutes walk from the high street. These are generally BIG FLATS with better dimensions than more modern build apartments. From the pictures it looks as though it's in good basic condition although some improvement may be required in places - WE CAN DEAL WITH THIS. It will RENT EASILY for no less than £650PCM and maybe up to £700PCM if you get the presentation really nice.
You will see from the internet that 2 beds in this development sell for as high as £135k, so if you pick it up anywhere near the guide price of £115k, you've done very well. Ex Council stock is selling for this sort of money at the moment, so one of these for £115k or somewhere near would be a very good bet.
One has popped up today though that may be different - this is off to Harman Healy in London, which is more the latter type of auction than the former. As such I suspect it is a bank repossession or similar. A visit to the capital will put off the local buyers who drive the price up, so there may be an opportunity to pick this up at a decent price if you're prepared to have a day out!
The advert for the property is here : http://www.rightmove.co.uk/property-for-sale/property-62329423.html which contains details about viewings and management packs etc.
It's a bed apartment in Cliftonville Court - a GOOD LOCATION right next to the General Hospital, and 5 minutes walk from the high street. These are generally BIG FLATS with better dimensions than more modern build apartments. From the pictures it looks as though it's in good basic condition although some improvement may be required in places - WE CAN DEAL WITH THIS. It will RENT EASILY for no less than £650PCM and maybe up to £700PCM if you get the presentation really nice.
You will see from the internet that 2 beds in this development sell for as high as £135k, so if you pick it up anywhere near the guide price of £115k, you've done very well. Ex Council stock is selling for this sort of money at the moment, so one of these for £115k or somewhere near would be a very good bet.
