Property type: Two bed mid terraced house in Oldham occupied by tenants
Reason for auction: Re-investment
Seller: Started new business and needed cash injection fast
Guide price: £20,000 – £30,000
Sold price: £35,000
History of This Auctioned Terraced House in Oldham England
The owner of the Oldham house started a business and at the beginning it was very successful. They made enough money to buy another, bigger house and move out of this one without selling it so they’ve rented it out.
However, bad times followed during a tough market and the owners needed to refinance the business.
Selling the rented house by auction was the perfect answer as the owner gets a quick sale with no loss of rent, the tenants get to stay in the house and its sold to another landlord who benefits from the tenants and rent income already in place.
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