There are not too many bargains you can pick up for £1. Perhaps a song on iTunes, 20 litres of compost from Poundland or a jar of Colman’s mustard.
Alternatively, you could invest your entire quid in bricks and mortar – and collect a house that was valued at £185,000 just last year.
A three-bedroom seaside house and shop in southern Scotland goes under the hammer later this month for the princely sum of just £1.
If no-one at the world-wide internet auction offers more than that, then that’s exactly how much it will go for.
Inevitably, however, there is a ‘catch’. Due to an electrical fault in the utility room last year, the property in the hamlet of Creetown, Dumfries and Galloway, caught fire.
There was damage to the rear of the property and National Property Auctions believe that legal advice should be taken before bidding.
But photographs released by the auction house do not show a destroyed property or an interior that could not be rectified without huge expense.
The kitchen, bathroom and utility room have have been gutted but photographs appear to show only smoke damage in other rooms.
National Property Auctions, Managing Director, Mandi Cooper said:“This property was a once very much-loved family home, and could be that again.
“This property has a Guide Price of £1 and there is no reserve price on this property.
“Online auction is proving to be a very successful way of selling property, land and commercial assets online and allowing buyers from all over the world to get involved without having to be present in an auction room.”
Viewers can take a peek around the house and shop this Saturday at 1pm or Thursday, January 23 at 12 noon.
NPA boss Mandi Cooper added: “This could be a fantastic opportunity for a family to have a great new home.
“By buying at online auction, exchange happens at the virtual fall of the hammer, completion takes place within four weeks after that.”
The sale for National Property Auctions takes place on Friday 31st of January 2020 online at www.nationalpropertyauctions.co.uk
Last month, a property in the Isle of Lewis which was a perfect holiday home or holiday rental with stunning and shoreside setting views sold for 250 per cent over the original guide price. The location of the property is situated in a very popular tourist destination as the natural beauty of the area is sublime.
This auction lot would make a fantastic developer opportunity with added business potential. The property also could be restored to its former loved family home. This property has a reinstatement value of £185,000 and bidding starts at a Guide Price of yes, £1.