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Daily Mirror
Daily Mirror
Business
Levi Winchester

House goes on the market with £100 start price - but wait until you see inside

A two-storey property is being sold at auction with a starting price of £100 - but it needs a serious amount of work.

The building, which is located in Morriston in Swansea, is in complete disrepair - meaning it needs refurbishing from the ground up before it can be lived in.

As it needs so much work, the property is being listed as a “development opportunity” on the Paul Fosh auctions website.

The building itself consists of just two rooms over two floors, along with a garden.

There may be the opportunity for the winning bidder to extend the property, with the tenure listed as "advised freehold, subject to verification by a solicitor".

The back of the property looks like it has been partially knocked down, with only some walls still standing and part of the ceiling missing.

The building itself needs a lot of work (paulfosh.eigonlineauction)
The garden is blackened and needs completely overhauling (paulfosh.eigonlineauction)

The garden is also filled with black rubble, so would need clearing out and starting again.

Sean Roper, residential property specialist at Paul Fosh, told The Mirror this building is the back of a traditional end of terrace property.

The vendor has sold off the front bit and retained this part of the building to sell separately.

Mr Roper confirmed there hasn't been an accident or fire that has led to the property being in this condition.

In the part of the building that is still standing, the walls and flooring have been completely stripped bare and you can see some black marks.

The property is accessed via its own side gate leading to the private garden, according to its listing.

Paul Fosh will start the bidding for this building on June 8, with the auction set to last until June 10.

Keep in mind that if a lot of people show interest in the property, the final price is likely to be much higher than £100.

There are currently 83 people watching the listing.

The sale is also subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £950) which could also include VAT.

There may be other sales costs and stamp duty to pay too - there are legal documents on the website to explain the additional charges.

There is also the obvious fact that you’ll need thousands of pounds to bring it back to a liveable condition.

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