5 Auction Properties Which Are Cheaper Than A Summer Holiday

6 Aug

Slap bang in the middle of the summer holidays is not the normal time to be rushing off to the auction rooms.  At this time of the year most (normal) people will be heading off on their long-awaited summer holidays and enjoying a few days, or even a few weeks rest.

But if you’re feeling a lull in your summer fun, or are just at a loose end, you could always pop down to the auction rooms to pick up a bargain priced property.  These crazily low guide prices could even mean you have enough change left over for a Mr Whippy on on the beach.

A Wowzers Rental Yield?

Guide price £1,000

cheap buy to let

If you’re after a cheap buy-to-let with high rental yields, this two bedroom property in Nairne Street, Burnley may be right up your street.  It’s currently tenanted on a monthly rolling contract with a rental return of £340 pcm.  If the tenants actually pay up and you manage to secure the property at anywhere near the £1,000 guide price you could be set for a jaw-dropping 408% rental yield.

For more details: Pattinson Property Auctions

A Birmingham Beauty?

Guide price £5,000

cheap buy to let

You’ll need legal expertise to unravel quite why this three bedroom house in Birmingham has a guide price of just £5,000.  The auction details state there is an unregistered lease and the title plans show an array of different title numbers so it’s best to do your homework before bidding on this potential Birmingham Belle.  However, given comparable properties in the area start in the region of £125,000 it may be worth looking into further.

For more details: Harman Healy

A Rural (derelict) Delight?

Guide price £5,000

cheap property development

In 2004 Plas Llanfigael in Holyhead, Gwynedd was bought for £350,000.  At auction this month, the very same property has a guide of just £5,000.  Admittedly, it’s probably not quite in the same condition now as it was then – because today the property is a fire damaged wreck which is deemed unsafe to enter.  However, if you fancy rolling up your sleeves and rescuing this Grade II listed property from dereliction now’s your chance!

For more details: Harman Healy

A Huddersfield Hottie?

Guide price: £5,000

cheap buy to let

You’ve got to question if it’s worth rebuilding this badly fire damaged terrace given there is a demolition order on it.  Local plans suggest the building forms part of a new development which is planned for two new blocks comprising 37 two-bedroom flats.  How and where this property fits into the overall scheme sounds pretty complicated and so a purchase of this type needs to be taken with great care and a huge dollop of due diligence.

For more details: Harman Healy

A Lancashire Lovely?

Guide price: £5,000+

cheap buy to let

If you’re looking for an investment which is ready to go, this well presented and modernised one-bedroom flat in Ribbleton, Preston could be just the ticket.  Resale prices seem remarkably low with land registry figures hovering around the £15,000 mark which suggests something may be amiss with this block and/or the area.  Rental prices are an astounding £400pcm – but you’d have to check if any tenants will actually live here and pay the rent before you bid and buy.

For more details: Auction House Lancashire

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