Nicholas Humphreys

8 Ratcliffe Road, Loughborough, Leicestershire, LE11 1LQ

  • Unconditional Online Auction Sale
  • Guide Price * : £350,000 Plus fees
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FOR SALE BY UNCONDITIONAL ONLINE AUCTION.

AVAILABLE on a BUY IT NOW for £350,000


  • Substantial six bedroom HMO
  • Great location within Loughborough town centre
  • Full HMO licence
  • Great low maintenance investment
  • EPC Rating: E

Property Description

FOR SALE BY UNCONDITIONAL ONLINE AUCTION.

AVAILABLE on a BUY IT NOW for £350,000


A stunning, substantial six bedroom, five bathroom, HMO property situated in a great location within Loughborough town centre.

The property is well placed for a wide range of shops bars and restaurants, Loughborough University and train station.

The property has a great letting history and is offered fully let at £32,100 per annum inclusive. An initial return of around 10% at the current guide price.

Full HMO Licence. Situated in a High Demand Article 4 area with full compliance.

The property is in excellent order and benefits from gas central heating and UPVC double glazing. High end kitchen and bathrooms and tasteful décor and flooring.


A ready made, low maintenance investment with income from day one.

The accommodation comprises:


Ground Floor:

Reception hallway, communal kitchen, two bedrooms with en-suites.


First Floor:

Landing, two bedrooms with en-suites, two bedrooms, large bathroom.


Outside:

Well maintained, enclosed, rear garden with patio.


Tenure
Freehold

Auction Method

The auction for this property will be conducted online through our online-bidding platform. This is a "Timed Auction", so there are no other lots being sold alongside this property.
The timeslot for the auction is displayed on SDL Auctions' website. To view this, search for the property on their website. Then click onto the property to view the property details. The time remaining to bid and end date of the auction is displayed on the page.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to SDL Auctions' Buyers Terms (England & Wales) which are available to view on SDL Auctions' website.


Auction type - Unconditional with Fixed Fee

If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 20 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise.


Auction Fees

The following non-refundable fees apply:
• Buyer's Fee- payable on exchange of contracts. This is usually £1074 including VAT, subject to the Special Conditions of Sale. This fee does not contribute towards the purchase price of the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Special Conditions carefully before bidding. Any additional fees are included at the seller's discretion, not on the instruction of SDL Auctions, and will be in addition to any fees payable to us. SDL Auctions has limited control over the content of the Special Conditions of Sale.


Deposit

On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.


Payment Method

When you register to bid, you will be prompted to provide your payment details to SDL Auctions. In the event that you are the winning bidder, your card will automatically be charged a proportion of the Buyer's Fee & Deposit. The payment will be calculated based on the guide price of the property. Where the actual purchase price is higher than the guide price, you will be required to pay the difference immediately after the end of the auction, which can be paid by debit card or bank transfer. Payment by cash or cheque will not be accepted.
Example: You win the bid on a property with a guide price of £150,000, but the actual purchase price is £170,000. At this point your bid is successful you will be charged as follows:
• Buyer's Fee of £1074 - the fixed fee listed in the Special Conditions of Sale
• Deposit of £15,000- 10% of the guide price
As the actual purchase price amounted to £170,000, after the auction, you will be required to pay the following additional amounts on top of the initial payment:
• Buyer's Fee is fixed, so no additional monies due
• £2,000 for deposit shortfall (£17,000 due as 10% of actual purchase price)


Legal Pack

Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
To view the legal pack, first search for the property on SDL Auctions' website and click onto the property to view the property details. There will be a sub-heading "Legal Documents". Underneath this, you will be prompted to "Log in to view the legal documents". Follow this link, you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.


Special Conditions of Sale

The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Auctions' terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.


Registration Process

To register to bid on the property, search for the lot on SDL Auctions website. Click onto the property, follow the link to "Log in/register to bid", and you will then be directed to create an account with the online-bidding platform provider, EIG.


Useful links

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