Probate properties coming up for sale in the February 2017 auctions...
It's well known that most "probate properties" sell particularly well at auction; often in need of updating they represent ideal projects for both first time buyers or experienced property developers. If you are an executor interested in finding out more about selling a probate property at auction, or a prospective buyer searching for projects, then you might find it useful to look at these examples of probate properties coming up for auction in February 2017.
How to find probate properties for sale at auction
The easiest way to find probate properties for sale at auction is to register your interest with property auctioneers, they will update you when suitable properties come up for auction. The auction link website lists UK property auctioneers, or if you're focusing on London you'll also find a list of London property auctions including upcoming action dates and links to current auction catalogues.
You can also search the online catalogues, usually in PDF format for words such as "probate", "executor", "unmodernised" or "modernisation" this will help find text in the catalogue that describes the properties as "for sale by the executors" or "in need of modernisation". For most browsers, pressing the "Ctrl" key and the "F" key at the same time will bring up the search function.
By order of the Executors: 32 Brunswick Road, London
Lot number 12 of the 6th of February Barnard Marcus Auction is 32 Brunswick Road, Ealing, London W5 1BD. The property is described as being for sale "by order of the Executors", it's a freehold, three floor, mid terrace house requiring "modernisation and updating" and is sold with full vacant possession.
The guide price for the property is £725,000 and in our estimation the property could be worth well close to £1M when done up to a good standard. A comparable for a similar sized property in good condition that's sold recently is number 10 Brunswick Road which sold for £950,000 almost a year ago (February 2015).
To find out more about this property, please contact Barnard Marcus Auctions.
Probate sale: 25 Woodfield Avenue, Wembley
Another probate property for sale with Barnard Marcus Auctions is lot number 3. The property at 25 Woodfield Avenue, Wembley, Middlesex HA0 3NP is a freehold, semi-detached, three bedroom house with potential for a loft/mansard conversion (subject to consents) that would provide additional accommodation at the second floor level.
The guide price for 25 Woodfield Avenue is £500,000. There aren't too many recently sold, directly comparable property sales in the immediate area, but close enough is number 1 Byron Road, which recently sold for £600,000.
According to the Barnard Marcus Auctions viewing schedule, viewing times for 25 Woodfield Avenue are: Thursday 26th of January at 1pm, Monday the 30th of January at 1pm, Wednesday the 1st of February at 1pm and Friday the 3rd of February at 1pm.
Executor/probate sale: "The Post Office"
The perfect opportunity to acquire a mixed use investment property comprising: ground floor shop unit of approximately 950 sqft currently let as a sub post office and on the first floor; 2 bedrooms, 2 reception rooms, kitchen, bathroom and wc. The total current rent is £25,000 per year and the auctioneer's guide price is £425,000. The property is marked as a probate sale, with a note "by order of the executors" in the auction catalogue. For more details about lot number 163 of the 13th of February auction, please contact Savills on 020 7824 9091.
Probate property selling at auction in Haywards Heath
For sale in the 13th of February Savills auction is lot number 127; a well located, third floor, two bedroom purpose built flat is an ideal investment opportunity. According to the auction catalogue the flat has approximately 50 years remaining on the lease (99 years from 24th June 1968). We would advise you to check out the legal pack or contact the vendor's solicitor to find out if there are any details about extending the lease. You can also make your own enquiries about the likely cost of extending the lease by using the "lease extension calculator" on the leaseholder advisory service website.
Viewing times are 10.30am on the following dates: Tuesday 31 January, Thursday 02 February, Saturday 04 February, Tuesday 07 February, Friday 10 February. The property is advertised as being sold by order of the executors.
Find out more about selling a probate property at auction.
Next steps
Thinking of selling a probate property at auction? Any type of property can be sold at auction, whether in good or poor condition. Request a free pre-auction appraisal or call us on 0800 862 0206 - we'll be happy to help.
