Everybody loves a bargain – and a property bargain – well that is even better.
So imagine my surprise when I found THREE stunningly cheap properties which are so damn cheap you just have to take a look
The first is a property in Belfast. Admittedly, it’s Northern Ireland – but you know usually property in Belfast still costs more than many a Northern town I have come across (I’m not going to sling any more mud at the cheapskate Burnley terraces I have come across), because, today, this Belfast “beauty” really is an eye-wateringly LOW guide price.
It’s £2k.
Yes, you heard me – less than the cost of a decent holiday.
You can buy a THREE bedroom end of terrace in Belfast with a guide price of £2,000
Of course, I’m holding back on the photo – because you do need to see the property in question in it’s full glory.
And I’m warning you – it does need modernisation…and maybe some attention to the SEVERE fire damage which seems to have engulfed the property.
But remember it’s got a guide of just £2k – which is marginally less than a pint of milk at Waitrose.
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If you fancy your chances – it’s being sold by Must Be Sold (Lot 8) on the 5 December 2012
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So the next property up for auction is a 1 bed flat in Kensington. But before you get excited – this is Kensington, Liverpool…NOT London!
Anyway – at a NIL Reserve it’s probably worth a look…just pry open the boarded up windows and what you should find is a flat which comprises a lounge, kitchen, bedroom and bathroom.
The auctioneers have yet to carry out an internal inspection – and it’s likely it will need some work (!) but with no reserve – who can tell what this will sell for…
If you have a crowbar handy and a pair of rose tinted glasses the property is being sold with Sutton Kersh on the 6 December 2012 (lot 54)
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Alternatively, if you’re looking for a *real steal* – how about this buy-one-get-one-free offer in Cockermouth, Cumbria.
With a NIL reserve – you can buy, not one, but TWO Grade II former cemetery chapels. Situated at the entrance to the cemetery these properties even come with a strip of land to the rear of the chapels AND a blinking big arch (although the Vendor remains a right of way through the archway)
So if you fancy a BOGOFF property with a difference – get yourself to Pugh auctions on the 29 November 2012 (lot 1)
Simon
The liverpool flat I’d say will got for about 5k, if it sells. Bad form and all, but you need to own the whole building. I would buy it for the whole unit but wouldn’t touch flats there with a barge pole. I would do as large student HMO if i could get the whole unit – rent 15-18k as a random guess. (Ive already got one on the same street that I manage – http://www.topproperty-lettings.com/home/property_search-tolet-1214-_Deane_Road-.htm#content_window
Sam
Great local insight! Thanks Simon. I take it this is a popular student area?
Simon
It is – varies from street to street but that part of L7 is becoming more popular. The most popular part (excluding the centre) is nearer town in L7 – very easy to rent out, 12%+ yields.
Sam
You are tempting me now on the Kensington flat…
Simon
Ha hope you’re joking!!! You really need to own the whole building to make it work – Liverpool is quite funny in that there is no resale market for apartments in converted houses except in specific areas like Sefton Park. You tend to find most of them are owned as a whole building by individual landlords. Where they do have split titles it is often for equity release purposes. Still, it is cheap 🙂
Simon
I’d also avoid the house in Belfast, unless you are known locally and from the right side if the street if you know what I mean! Why the fire in the first place? Does it have a history?
Sam
I went to Belfast a few years ago – it has a great nightlife scene. Yes, I think you do need to know the areas well around there. Fire damaged houses do come up for sale at auction quite often. It’s worrying the amount of people who do not take buildings insurance.
James Cooke
Great piece. The obvious two questions are: how do you find these bargains? And why tell the world about them? It’s very magnaminous (I’m now exhausted after that one) of you but if they’re that good why not grab ’em yourself? Thanks again for the blog. Great read.
Sam
James,
Glad you like the article
In answer to your Qs:
1.I am an auction addict and so I am always looking for properties to buy!
2.Why not tell the world? I don’t have the time nor money to buy all the properties which I find, so if somebody else can benefit – then why not?
Spread the auction joy 🙂
Who Will Give Me 1 Pound For This House???
[…] So we have had the £7k flat, then the £6k flat, then the £2k house. […]
Simon
Dammit – just received an email from Sutton Kersh – the flat on Dean Road has been withdrawn!