Modern Method of Auction
Auction date not yet published
2-bedroom bungalow · WS7 4RS
Sold STCReduced £30k (−19.4%) on 29 SepListed 61 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Lovett&Co. Estate Agents are pleased to offer for sale this two bedroom bungalow being offered with no onward chain. The property is for sale through the modern method of auction.
The accommodation briefly comprises: Entrance hallway, lounge, kitchen, wet room, two bedroom, and a conservatory. There is also a garage, plus large gated driveway and private rear garden.
Auctioneer Comments This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction.
The Modern Method of Auction is a flexible buyer friendly method of purchase.
We do not require the buyer to exchange contracts immediately; however, from the date the draft contract for sale is received by the Buyer's solicitor, the buyer has 56 days in which to complete the transaction; whilst using every endeavour to exchange contracts within the first 28 days.
Allowing the additional time to exchange contracts means interested parties can proceed with traditional residential finance.
Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of: A non-refundable Reservation Fee of 4.5% of the final agreed sale price including VAT - this is subject to a minimum of £6,600.00 including VAT - which reserves the property from sale by securing the transaction and takes the property off the market.
The Reservation Fee is paid in addition to the final negotiated selling price.
A non-refundable Buyer Information Pack fee of £300.00 including VAT towards the preparation cost of the pack, if the Buyer Information Pack has been produced and provided by iam Sold.
The Documents in the pack can then be used by your solicitor during the conveyancing stage of the purchase. It is recommended that you view the Buyer Information Pack before agreeing to your purchase.
Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability.
Further clarification for this must be sought from your legal representative.
The buyer will be required to sign a Reservation Agreement to confirm acceptance of the terms prior to solicitors being instructed.
A sample copy of the Reservation Agreement and all terms and conditions can be found in the Buyer Information Pack, which can be downloaded from the auction section of our website, or requested from our Auction Department.
Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change.
Terms and conditions apply to the Modern Method of Auction, which is operated by the West Midlands Property Auction powered by iam Sold.
Reception hall: Lounge: 9' 11'' x 16' 4'' (3.03m x 4.97m) kitchen: 8' 2'' x 8' 11'' (2.48m x 2.72m) bedroom one: 9' 5'' x 12' 6'' (2.86m x 3.80m) bedroom two: 8' 7'' x 8' 0'' (2.61m x 2.44m) conservatory: 17' 5'' x 6' 3'' (5.30m x 1.90m) wet room: 4' 7'' x 8' 0'' (1.39m x 2.44m) garage: 8' 2'' x 17' 5'' (2.49m x 5.31m) viewing: Please contact us on if you would like to arrange a viewing appointment for this property or require further information.
Identification Checks (R) - Should a purchaser(s) have an offer accepted on a property marketed by Lovett&Co Estate Agents they will need to undertake an identification check.
This is done to meet our obligation under Anti Money Laundering Regulations (aml) and is a legal requirement. We use a specialist third party service to verify your identity.
The cost of these checks is £35.00 inc. VAT per buyer, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable.
Disclaimer: These particulars are set up as a general outline only for the guidance of intending purchasers or lessees, and do not constitute part of an offer or contract.
The sellers has given permission for all descriptions, dimensions, references to conditions, tenure, service charges and necessary permissions for use, occupation and other details to be used and we have taken them in good faith whether included or not & whilst we believe them to be correct, any intending purchasers or tenants should not rely on them as representations or fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them and have this certified during the conveyancing by their solicitor.
No person in the employment of Lovett&Co has any authority to make or give any representation or warranty whatsoever in relation to this property.
Value & comps
No previous sales on record.
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Returns
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Archie refurb estimate: a Pro feature
0.0% below starting price
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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
Agent & docs
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FAQ
About 2a, Oakdene Road, Burntwood
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