Dunwilla 7 Cumming Street, Forres, IV36 1NS
Offers around £190,000 - Mortgage funding available
Substantial renovation project, detached 3/4 bed in Forres with noted structural movement; priced £50k below Home Report to reflect scale of works needed, suited to experienced buyers
4 Bedrooms
1 Public Rooms
2 Bathrooms
DrivewayProperty Description
An opportunity to acquire a detached 3/4 bedroom home in a well-established area of Forres, offering excellent potential for those prepared to undertake a substantial and involved project. This is not a standard renovation and is being marketed with complete transparency; the property requires significant investment and major works and will best suit experienced developers, builders, or buyers with the vision and resources to restore it into a fantastic family home.
The accommodation currently comprises an entrance vestibule, lounge, kitchen/diner, dining room, which could serve as a fourth bedroom, a ground floor bedroom and shower room, with a bathroom located on the half landing and two further bedrooms on the first floor, providing a flexible layout once upgraded.
It is important that prospective purchasers are fully aware that the property requires extensive works throughout, not only in terms of internal modernisation and refurbishment, but also structurally. Surveyors have noted evidence of settlement and movement, visible through cracking to walls and deflection in flooring. This movement is considered significant and potentially progressive, and as such any purchase would likely be subject to a structural engineer’s report being commissioned.
The property has been assessed as mortgageable; however, a £30,000 retention has been applied due to essential works required in relation to the movement. The Home Report valuation stands at £240,000 subject to these issues being addressed, with a current lending value of £210,000 reflecting the retention of £30,000. The sellers are realistic about the scale of the project and have priced the property accordingly, seeking offers around £190,000 from launch. This represents not only the retention amount but a further reduction, positioning the property at £50,000 below the full Home Report value to allow a purchaser the scope to undertake the necessary works and ultimately create a superb home.
This is a major project, but one that offers a rare opportunity to transform a substantial property into an exceptional family residence in the town centre. Buyers are encouraged to carefully consider the extent of work involved before arranging a viewing.
Electricity Supply: Scottish and Southern Electricity Networks
Water Supply: Scottish Water
Sewerage: Scottish Water
Broadband / Mobile Coverage: Limited 3G, 4G and 5G.
The description of properties on the website do not form part of any offer and all statements and photographs are for illustrative purposes only and not guaranteed. Buyers must satisfy themselves on the accuracy and authenticity of each property listed.
All buyers must check the title deeds with their solicitor to ensure what they think they are buying or what has been advertised is actually confirmed in the deeds. McEwan Fraser Legal do not check title deeds when marketing property and as such buyers must satisfy themselves that all advertised information is correct.
Location of Property
Viewing
By appointment through McEwan Fraser Legal on Inverness 01463 211 116
McEwan Fraser Legal are open 7 days a week: 8am - Midnight Monday to Friday & 9am - 10pm Saturday & Sunday to book your viewing appointment.
More details
Part Exchange your property for a home on our site
If you are interested in a property we have available for sale and have your own property to sell, we can refer you to MP Ltd (who operate independently of McEwan Fraser Legal). They can offer you a guaranteed cash offer for your own property through this unique Part Exchange option which may allow you to sell your property quickly and easily without any Estate Agency fees or advertising costs. This allows you to make an offer for any property on our site safe in the knowledge that your existing house has a firm legal offer.
Please contact us for further details or complete the Part Exchange form. Remember your dream home could be only a phone call away 0131 524 9797.
Mortgage funding may be available through an authorised mortgage broker
McEwan Fraser Legal are working closely with authorised mortgage brokers in order for our clients to obtain mortgage funding (see terms and conditions, which normally apply, below)
- Aged 18+
- You are in permanent employment
- Self Employed usually need to have 2 years accounts available
- Permanent right to reside in the UK
- You have no adverse credit that would affect your ability to repay funding
Should you wish to obtain further information please complete the enquiry form
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