Modern Method of Auction
Auction date not yet published
We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work2-bedroom flat · TA19 9AN
For saleListed 59 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Spacious Ground Floor Apartment with Parking in Ilminster Town Centre Set just moments from Ilminster’s vibrant town centre, this quirky and surprisingly spacious ground floor apartment offers fantastic potential for buyers looking to put their own stamp on a property.
Benefitting from an allocated parking space and generous room sizes throughout, it’s ideal for first time buyers, downsizers or anyone seeking single level living close to amenities.
Inside, a large kitchen/dining room provides a welcoming entrance, with modern units, space for a range cooker and an adjoining area offering scope for a utility space with a separate shower room.
An inner hall leads to two well proportioned bedrooms, a southerly facing sitting room overlooking the High Street and a further bathroom.
The layout offers excellent flexibility, with ample potential to reconfigure or enhance the space to suit individual needs.
The property features gas central heating, double glazing and an allocated parking space directly by the entrance.
Situated off a private lane in the heart of the town, it enjoys easy access to Ilminster’s independent shops, cafes, arts centre and essential amenities. Why Buy with the Modern Method of Auction?
• Clear process – full legal pack available upfront • Mortgage-friendly – up to 56 days to complete • Fair bidding – online or by phone, in real time • Confidence – secure your property with a reservation fee • Quicker move – average completion just 22 days A straightforward and secure way to buy your home.
** This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited.
This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT.
This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.
The property has a Buyer Information Pack containing documents about the property.
The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding.
A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of £495 inc. VAT towards the preparation cost of the pack.
The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral.
These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.
You can at any time put forward an offer on this property and should that be acceptable to the vendor, the auction would end. A straightforward and secure way to buy your home.
Mortgage Friendly - If you are unsure what Modern Method of Auction is, give us a call, we can advise on the ease of property purchase solutions which makes buying a home in this scenario a safer and smoother experience.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About 1, Rutters Lane, Somerset
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