48 Selmans Hill, Bloxwich, Walsall

Description

Auction House Birmingham are proud to present for sale this 5 Bedroom, Semi-Detached House. The property, situated on Selmans Hill, Bloxwich, is in need of complete improvement, but could prove to be an enticing project for residential purchasers looking to make their home, or to investors seeking refurbishment. The property has not been inspected by the auctioneers, however, we understand it to comprise five bedrooms, three bathrooms and two reception rooms. Due to the condition of the property, no viewings will be taking place on health and safety grounds.

Accommodation

The property is understood to comprise five bedrooms, three bathrooms and two reception rooms.

Location

The property is situated on Selmans Hill, Bloxwich, Walsall.

Tenure / Property Information

Tenure	Freehold
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

The only supplied completed sale for 48 Selmans Hill is £227,950 dated 31 October 2016. The property is now described as requiring complete improvement, has not been inspected and cannot be viewed on health and safety grounds. A current GDV cannot be reliably established from the evidence supplied. The £185,000 guide is before the £1,500 buyer premium, £2,040 admin charge and any legal-pack disbursements or other purchaser costs.

Investment Snapshot

Guide Price

£185,000 (plus fees)

Strategy Recommendation

Do not bid on the supplied evidence alone. Proceed only after legal-pack review and independent specialist advice establish condition, works, current resale value, access and all purchaser costs.

Works Required

Complete improvement is indicated, but the property has not been inspected and viewings are unavailable. Scope, structural condition, services, bathrooms, kitchen, finishes and compliance requirements must be established through the legal pack and specialist surveys before bidding.

Rental & Market Context

No sufficiently specific external rental comparable identified.

Sold Comparables

The following completed sales were identified within approximately 5 miles:

48, Selmans Hill, Walsall, Walsall, Ws3 3rl 2016-10-31 · Semi-Detached · Freehold	£227,950
48, Selmans Hill, Walsall, Walsall, Walsall, Ws3 3rl 2001-11-01 · Semi-Detached · Freehold	£140,000

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. There is no reliable current GDV, refurbishment budget or rent, while the property requires complete improvement and cannot be inspected before auction. Refinancing at 75% of GDV is therefore unquantifiable.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate has been supplied. The unknown refurbishment requirement and unavailable inspection create substantial cost and letting uncertainty.

Flip Analysis

A flip appraisal cannot be reliably calculated. The only supplied comparable is the same address at £227,950 in 2016, which is not sufficient evidence of current resale value, and no refurbishment or selling-cost allowance is available.

Investor Risks & Due Diligence

• Property has not been inspected and no viewings are taking place on health and safety grounds.

• Description states the house needs complete improvement, but no quantified works scope or cost is provided.

• Current GDV is unsupported; the only supplied same-property sale dates from 2016.

• No sufficiently specific rental evidence or passing rent is supplied.

• Buyer premium, admin charge and potentially payable legal-pack disbursements and other charges increase total acquisition cost.

• Five-bedroom, three-bathroom and two-reception accommodation is stated to be understood rather than confirmed by inspection.

Recommendation

Do not bid on the supplied evidence alone. Proceed only after legal-pack review and independent specialist advice establish condition, works, current resale value, access and all purchaser costs.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low

The property cannot be inspected, its condition is described only generally, no current valuation evidence or rental evidence is supplied, and refurbishment and resale costs are unknown.