How To Buy A Property For £13,000

28 Jan

Today I was scanning through the auction catalogues and I couldn’t help but notice the price on a property that was going for sale  next week at just £13,000!

So I bet you’re wondering where on earth can you buy a 3 bedroom property for just £13,000?  OK – let me tell you now – it is NOT in Bulgaria – it is in the UK!!

A local estate agent says “situated in a prominent position close to all local amenities including shops, schools and with excellent transport links closeby”

And it wasn’t in Merthyr Tydfil or anywhere remotely near the Welsh Valleys or in some remote part of Scotland.

No it was in Liverpool – our very own Capital of Culture!

Now I know many years ago that you could buy whole streets in Liverpool for just a few pounds, and while house prices may have fallen – they have yet to reach such crashing lows that you buy a house and get change from a tenner.

So what’s the catch with this £13,000 house? OK so it needs major refurbishment – but that has to be expected for an auction property. It seems to rent for a good predicted yield – typical rents in the area are circa £400 per month. Properties seem to resell there as well – a property in that street has just sold for £45,000.

So, I’m OK with all of that – my concern is the neighbour….because sadly the house next door is not up for sale!

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