Yes, it needs a bit of work (or maybe even a bulldozer!) but the £1 house and these other bargain properties are going for less than the cost of a new family car
The guide price for this fire damaged property in Tredegar is set to start at just £1 as the property has no reserve.
However the bidding could well go higher than loose change but the long list of problems will put off many buyers. If you empty your purse or wallet of loose change, you might just secure it.
Sean Roper from Paul Fosh Auctions said: “The property has serious fire damage, with only a small portion of the roof remaining so it’s not safe to view. It is sold as seen. It was a buy-to-let property in the past so may suit an investor if they are willing to do the extensive work.
“If the potential new buyer is thinking of putting it on the market once they have worked on it, properties like this in the area sell for approximately £50,000.”
Problems: Where to start! Extensive fire damage, practically no roof and EVERYTHING needs doing.
Future: Was once a buy-to-let investment property, so this may be an option.
Guide price: £1
HOUSE 2 – Guide price: £4,000
This property in Ferndale used to be two buy-to-let flats until it became abandoned and went to seed – literally – there are plants hanging from the roof, walls and ceilings (what’s left of them).
Roper says: “There’s no access upstairs, but it is known that this property was two flats so there is potential to earn two incomes from it. There is a high demand and density of rental property in the area so this is a possibility for the new owner.”
Problems: Virtually no roof and damp means the building is rather wet. It’s a gut-and-start-again project.
Future: One day it could be two flats.
Where and when to bid for both and other properties: Paul Fosh auction on October 29 in Cardiff.