Information concerning the housing market tends to be nothing however doom and gloom – however this could possibly be a small ray of sunshine.
A 3-bedroom property has gone on sale for simply £5,000 – the identical value as a ten-year-old Fiat.
The terraced abode, of St. Oswalds Road, Hartlepool, County Durham, is available on the market with a tiny information value, and is ready to be bought at public sale.
The property comes with tenants who hire at £500 a month which means landlords might rake in an annual £6,000 and pay for the home in lower than a yr.
For a similar value you possibly can get a 2012 Fiat 500 Hatchback, or a Louis Vuitton classic suitcase.
Brendan Pearce, lettings valuer at Royal Estates, Birmingham, says: ‘The value is so low as a result of it’s an public sale and we wish folks to have an interest within the property.
‘If somebody really buys it for £5,000 within the public sale they’ve discovered a gold mine.’
He says the household house could be good for first time patrons.
‘They will get a discount by means of public sale and evict the tenants inside two months, which sounds a bit imply, however you may,’ he says.
‘Or, in case you are an investor wanting so as to add extra properties to your portfolio you have already got an revenue stream.
‘It’s a very nice property and well-looked after. There’s a stigma that public sale homes are unhealthy properties however that isn’t the case anymore. Auctioning is extra about aggressive bidding the place folks can get a very good value and the seller can promote the property simpler than conventional gross sales and have the cash cleared inside 28 days.’
The home boasts an entrance corridor, lounge, eating room, kitchen, three bedrooms and a household rest room.
Additionally it is a stones throw away from Hartlepool marina and native facilities.
Moreover, the house is simply 0.7 miles from Hartlepool Station so new house owners could possibly be within the nation’s capital inside 4 hours.
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