Have you seen this 3 Bedroom Semi for sale in Maulden: http://www.rightmove.co.uk/property-for-sale/property-33215838.html
At first glance this looks like a bargain, but i'd need a closer inspection. Judging by the photos and looking at the windows, can you see a reveal around any of them? This tells me it might not be standard construction and could be unmortgageable, meaning difficulty in finding a lender to fund it. Definitely worth checking beforehand.
If you're looking at buying for cash to do up and sell, would your buyer obtain a mortgage once you've renovated it? Worth looking into.
Unless you've budgeted for the necessary structural work and had a surveyors opinion then you still need to research this one properly. Of course if you're buying with cash and holding long term then you might not care - but i'd still be aware of the potential implications when it comes to sell on.
I'll be interested to see what this sells for, and what the buyer does with it. Could be a bargain, could be a huge mistake! Offers must be in 12 noon on 6th Feb, good luck if you're going for it.
Once renovated I'd expect to achieve £900-£995 per month if let out, depending on the quality and rental demand. As it is you could still get £750 per month, meaning a fantastic 7.5% yield if bought at the £120,000 reserve price.
(By the way it annoys me when agents don't include floor plans, I always insist on one when selling or renting my properties!)
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