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£165,000 Guide Price
Bedrooms
Bathrooms
Excellent builder / developer opportunity
New to Auction is this fantastically positioned rural cottage two miles from Turriff. The property itself lays on 0.74 acres of land and although requiring a full refurb has great potential. The accommodation consists of entrance hallway leading to lounge with windows to front and side, sitting room leading out to conservatory, dining room, spacious dining sized kitchen and good sized utility room, three bedrooms, one with ensuite and a separate family bathroom. Externally there are three sheds and three garages for additional storage. The property will require a full program of works to bring it back to its former glory. Due to the condition and works involved, there is no Home Report and the property is only suitable therefore for a cash buyer. Excellent opportunity for the builder / developer looking for their next project. Early viewing is advised to ensure you do not miss out on this fantastic opportunity. Council Tax Band:F.
Comparables
South Towie Turner, Turriff: Sold for 270,000,07/22
Newton of Muiresk, Turriff: Sold for 389,500. 05/22
Area
Silverwells Lodge is located 2 miles south of the town of Turriff which can be accessed via the A947 the town itself has many amenities including Schools, shops, bars and restaurants.
Unsafe properties
Unsafe properties are evidently in a condition that poses a serious risk to the health or safety of occupants or visitors, or where the way the home is marketed suggests it is unsuitable for occupation in that condition. There is little point in a condition survey being undertaken on a home that is unfit for occupation in any case and is being advertised as such.
Purchasers notes
Please note that these particulars have been prepared by us on the basis of information provided by our client. If there is any aspect of these particulars that you wish clarified or that you find misleading please contact the office where further information will be made available.
No tests have been made of services, equipment or fittings.
No warranty is given or implied as to the condition of buildings, services, fixtures, fittings etc.
All measurements, distances and acres are approximate.
Fixtures, fittings and other items are not included unless specified in these details.
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Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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