192 Lea Road, Wolverhampton, West Midlands, WV3 0LG
- Conditional Online Auction Sale
- Bedrooms: 6
- Bathrooms: 2
GOTO PRESENTS THIS 6 BEDROOM TERRACED PROEPRTY IN WEST MIDLANDS - WV3
Tenure
FREEHOLD
Description
Don't miss this fantastic investment opportunity featuring a licensed House of Multiple Occupancy (HMO) generating an impressive income of approximately £36,000 per annum.
The ground floor of this property offers a spacious layout, starting with a welcoming hallway featuring Minton tiled flooring, leading down to a cellar. Two double bedrooms are ideal for tenants. The communal living room is bright and airy, providing a comfortable space for socialising and relaxation. The fitted kitchen and utility area cater to the practical needs of the residents. A bathroom and a separate WC add convenience for shared living arrangements.
On the first floor, you will find a well-appointed landing leading to four generously proportioned double bedrooms, offering ample space for individual comfort. A communal shower room completes the first-floor layout, providing essential facilities for the occupants.
Outside, the property boasts an enclosed garden to the rear, mainly laid to lawn, offering a green and peaceful outdoor space for residents to enjoy.
Conveniently located near local shops, public transport links, and major road networks, this property is situated just 1 mile from Wolverhampton city centre, offering easy access to amenities and entertainment options. Birmingham Airport is approximately 50 minutes away, making travel accessible for residents and potential tenants.
This licensed HMO presents a great opportunity for investors looking to capitalise on a property with a strong circa 13% rental yield. Don't wait to seize this opportunity – schedule a viewing today and explore the potential of this lucrative investment.
EPC Rating: C
Council Tax Band: B
**MATERIAL INFORMATION**
The information above has been provided by the vendor, agent and GOTO Group and may not be accurate. Please refer to the property’s Legal Pack. (You can download this once you have registered your interest against the property). This pack provides material information which will help you make an informed decision before proceeding. It may not yet include everything you need to know so please make sure you do your own due diligence as well.
EPC Rating
CURRENT 70/85 POTENTIAL
Opening Bid and Reserve Price
This Property is subject to an undisclosed Reserve Price which in general will not be 10% more than the Opening Bid. The Reserve Price and Opening Bid can be subject to change. The Online Auction terms and conditions apply.
Comments
This property is offered for sale via Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer, but will be given 56 working days in which to exchange and complete the transaction from the date the Draft Contract is issued by the sellers solicitor.
By giving a buyer time to exchange contracts on the property, normal residential finance can be arranged. The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer reserve the property to the buyer during the Reservation Period and are paid in addition to the purchase price and are considered within calculations for Stamp Duty Land Tax. Further clarification on this must be sought from your legal representative.
The buyer will be required to give the Auctioneer authority to sign the Reservation Form on their behalf and to confirm acceptance of the Terms and Conditions prior to solicitors being instructed. Copies of the Reservation Form and all Terms and Conditions can be found in the Information Pack which can be downloaded from our website or requested from our Auctioneer.
Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer's Premium of £6,600 including VAT, plus a buyer's administration charge of £396 including VAT, a total of £6,996. This secures the transaction and takes the property off the market. Any additional fees and charges over and above this will be confirmed within the terms and conditions available on the website.
The Buyer's Premium and buyer's administration charge are in addition to the final negotiated selling price.
All buyers will be required to verify their identity and provide proof of how the purchase will be funded.
Buyer's Administration Charge
If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £396 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
Buyer Fees
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
- You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
- Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.
Energy Performance Certificate (EPCs)
An EPC is broadly like the labels provided with domestic appliances such as refrigerators and washing machines. Its purpose is to record how energy efficient a property is as a building. The certificate will provide a rating of the energy efficiency and carbon emissions of a building from A to G, where A is very efficient, and G is inefficient. The data required to allow the calculation of an EPC includes the age and construction of the building, its insulation and heating method. EPCs are produced using standard methods with standard assumptions about energy usage so that the energy efficiency of one building can easily be compared with another building of the same type. The Energy Performance of Buildings Directive (EPBD) requires that all buildings have an EPC when they are marketed for sale or for let, or when houses are newly built. EPCs are valid for 10 years, or until a newer EPC is prepared. During this period the EPC may be made available to buyers or new tenants.
Loading the bidding panel...
Office Contact
Agreement Documents
Legal Documents
Log in to view legal documentsAdditional Documents
Online Auction Buying GuideRelated Documents
Share
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
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.