Nil reserve price for two-bedroomed house in South Yorkshire at auction
A house in South Yorkshire has been given a rare reserve price of nil at Bond Wolfe Auctions’ next auction in Birmingham on Tuesday 10 September.
The unusually priced lot is a two-bedroomed, mid-terraced house at 12 Great Central Avenue in Doncaster – where a similar house in the same street sold for £55,000 back in September 2018.
The freehold property has a nil reserve price because it is currently vacant and needs refurbishment, with no existing fittings in the kitchen or bathroom.
Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “It’s highly unusual to start auction lots with a reserve price of nil and we’re expecting intense interest in this property on 10 September.
“The house has been given a rock-bottom reserve price because it is in need of some serious works, although a new owner could quickly create a decent place to live in or rent out.”
Mr Bassi explained that while reserve prices of nil meant that there was no minimum price, prospective owners would still have to pay the standard auction administration fee of £1,074 including VAT for each property.
He added that some auction properties can have further costs and that it was always recommended that potential purchasers read the legal pack.
Mr Bassi added: “For the right investor, this house could be one of the best bargains available across the UK in 2019.”
The Doncaster property is just one of 140 lots going under the hammer in Bond Wolfe Auctions’ next sale on Tuesday 10 September at 10.30am at the regular venue of the Holte Suite at Aston Villa FC.
Bond Wolfe Auctions has already this year offered 350 lots, more than any other auctioneer in Birmingham, including many properties from Wales and Scotland as well as those across the East and West Midlands.
The first three auctions have raised nearly £39 million in sales – more than double its nearest competitor in the same period.
Anyone interested in the auction or with properties for sale in future auctions should contact [email protected] or call 0121 312 1212.