Auction offers rare £1 guide prices for houses in Liverpool and Oldham
Auction offers rare £1 guide prices for two north-west houses at Bond Wolfe Auctions next auction in Birmingham on Tuesday 10 September.
The first of these unusually priced lots is a two-bedroomed, mid terraced house at 9 Meldrum Street in Oldham, Lancashire – where a house two doors away was sold for £62,000 in September 2018.
It’s been given the rock-bottom guide price because it’s fire-damaged and needs serious renovation.
The other lot with a £1 guide price is a three-bedroomed, semi-detached house at 10 Primrose Court in Huyton, Liverpool – where a nearby property sold for £85,000 in August 2016.
This one’s currently vacant and boarded up and will also need works, but both lots are expected to see fierce competition from bidders.
Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “It’s rare to start auction lots with guide prices of £1, but because of one being fire-damaged and the other being boarded up we can only offer external viewings.
“Each property obviously needs investment to return them back into decent homes, but for the right investors these could provide two of the best bargains available across the UK in 2019.”
Mr Bassi explained that while the £1 guide price was low, prospective owners would still have to pay the standard auction administration fee of £1,074 including VAT for each property.
He said that some auction properties can have further costs and it is always recommended that potential purchasers read the legal pack.
The north-west properties are just two of the 140 lots going under the hammer in Bond Wolfe Auctions’ next sale on Tuesday 10 September at 10.30am at the regular venue of the Holte Suite at Aston Villa FC.
Bond Wolfe Auctions has already this year offered 350 lots, more than any other auctioneer in Birmingham, including many properties from Wales and Scotland as well as those across the East and West Midlands.
The first three auctions have raised nearly £39 million in sales – more than double its nearest competitor in the same period.
Anyone interested in the auction or with properties for sale in future auctions should contact [email protected] or call 0121 312 1212.