THESE ten homes in the north are being offered at auction for just £1 – but buyers won’t be able to see what’s inside.
The bargain homes, which are boarded up, are in serious need of renovation and are only available for external viewings.
The homes are dotted around County Durham and Sunderland where they will be offered for a starting bid of £1 – meaning they could be sold for more if interest is high.
According to Zoopla, the average house price in London is well over £600,000.
The £1 homes on offer in County Durham are in Stanley, Seaham and Bishop Auckland.
In Sunderland, there is a three bedroom property on Hastings Street.
They are all listed as ‘nil’ because the seller is not expected to get anything from the sale – this could be because they want to offload properties costing them money to keep.
The houses will go under the hammer in Bond Wolfe Auctions’ sale on February 27 at the Holte Suite at Aston Villa FC.
Anyone interested in bidding on the above will still need to pay the standard auction administration fee – £1,074 – including VAT for each property.
Each property is also likely to rise in price as the bidding starts.
Gurpreet Bassi, chief executive of Bond Wolfe Auctions, told Chronicle Live: “Each of these properties obviously needs substantial investment, time and effort to return them into decent homes, but for the right investors they could be great bargains.
“It’s becoming quite a thing in auctions to give properties ‘nil’ or £1 reserve prices because sometimes they really do need a bump-start to get the right potential bidders involved.
“But I’ve never had an auction with as many as 38 houses with ‘nil’ reserve tags, and this range of properties is likely to attract strong interest from potential buyers.”
This two bedroom house can be found on Third Street, Horden in Peterlee.
It comes with two reception rooms, a kitchen and bathroom and has UPVC double glazing.
This two bedroom mid terraced house is on Eleventh Street in Horden, Peterlee.
It has a reception room, kitchen, landing and comes complete with a back yard.
The boarded up property on Twelfth Street in Horden has three bedrooms and a reception room.
It also has a kitchen and landing.
This boarded up house on Argent Street, Peterlee, is in need of refurbishment.
There are three bedrooms, a landing, bathroom and back yard but there has been no inspection of it.
This two bedroom mid terraced house at 11 Jane Street in Stanley has a landing, bathroom and back garden.
It also has a gas fired central heating system and double glazing.
This two bedroom property on Henry Street South in Seaham has a kitchen, bathroom and two reception rooms.
But you can only view it from the outside.
This two bedroom house on Seaham’s Henry Street North comes with its own front garden and back yard as well as a reception room, kitchen and bathroom. It also has central heating and double glazing.
If you choose to rent it out, you could earn around £3,360 per year.
This three bedroom mid terraced house has a porch, hall and reception room.
You’ll also get a dining kitchen, lobby and bathroom (no fittings).
This two bedroom freehold property on Brook Street in Bishop Auckland has a reception room, as well as a kitchen with no fittings and landing.
The bathroom also has no fittings.
This house in Durham was damaged in a fire and has not been inspected inside.
It does, however, have three bedrooms, a landing, back yard and garage.
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