This terraced home in Chester-le-Street could be yours for as little as £1 – but there’s a catch.
The property in Albert Street is being put up for auction in the hope the low starting price will help attract potential buyers who can transform the home.
It’s fair to say the terraced home needs a lot of work done, as it currently boasts a huge hole in the ceiling, bare walls and plants growing through the floor.
Although it needs some TLC and a full refurbishment to make sure its safe, an experienced investor may just see the potential in the property.
As well as two bedrooms, the future owner will be able to enjoy the lounge/dining room, kitchen, bathroom and a yard at the back – after a bit of hard work.
A similar two bedroom house on the same road in Chester-le-Street sold for £81,500 in March last year, according to Right Move.
Interested potential buyers will be able to take a look the property on August 20.
An online auction, run by Properties under the Hammer, will follow through to August 23.
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Although starting price for the terraced house is just £1, Properties under the Hammer’s Ibrar Pervez said it is expected to sell for between £10,000 and £13,000.
He added: “On average properties in the area sell for around £52,000.
“The owner contacted me directly and he just wants to get rid of it. It needs a full refurbishment but I think 100% it could be a good investment.”
For more information call the North East-based auction house on 0191 226 1035 or email [email protected] .
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