I'm not a fan of the Modern Method of Auction, I can see how it may appeal to sellers as it passes on the agents costs to the buyer but in doing so it can make the property much less attractive to potential buyers
Looking at the small print on the sale details, this one is being advertised with a starting bid of £63,000 and you'd expect the reserve price to be within 10% of the starting price, so £69,300
Then there's the minimum £5,000+VAT reservation fee so the total outlay may be in the region of £75,300
Even so, based on £495pcm rent it will return 7.8% Gross Yield
It's being advertised by Your Move so click here for details and contact them if you want to arrange a viewing http://www.zoopla.co.uk/for-sale/details/41412395
Call me if you'd like to discuss this or any aspect of property investing in Sunderland - call 0191 567 8577 or email neil.whitfield@belvoirlettings.com
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