A Sussex estate agent is putting a flat on auction for £1.
House Buy Fast, which is based in Liverpool Terrace, Worthing, purchased the flat and will be auctioning it with a £1 reserve on November 24.
The catch? It is in Liverpool, and needs a bit of TLC. According to the estate agent, the property, 10 Crossfield Close, needs refurbishment and is ‘ideal as a starter home or buy to let’.
It is a few miles from Liverpool John Moores University, The Cavern Club – more famously known as the birthplace of The Beatles – and Albert Dock.
The £1 sale was the idea of Jeff Djevdet, from Worthing.
He said they put it on auction because it needed some work, which he estimated would cost £7,000 and £10,000. He hoped that the low starting price would get a first-time buyer on the property ladder.
“We know the problems first-time buyers are suffering with at the moment, so it would be nice if someone could get on the property ladder rather than it going to a professional buyer.”
Jeff said it was impossible to tell what price it would sell for on the day.
“I honestly don’t know. Four thousand? Five thousand? That kind of price sounds crazy in Worthing – I wish we could get that here!”
The auction, held by SDL Graham Penny, will take place at the King Power Stadium in Leicester.
If you want to throw your hat in the ring, click here.
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