Is a £1 starting price for a property at auction the lowest on record?

25-07-2017

Is a £1 starting price for a property at auction the lowest on record? A Liverpool based Estate Agency have put the low price on a one bedroom flat in order to help first time buyers get on the property ladder.

Valuers have estimated that there is approximately £8,000 worth of work to be done on the property to modernise it and make it habitable – but despite this it is still a bargain!

The flat is on the ground floor and comprises of a bedroom, bathroom, kitchen and separate living room. It even has a car parking space and access to a shared garden.

The Estate Agents have no idea about how much the flat will actually sell for but they are hopeful the auction bids will reach around £5,000.The auction will take place at Leicester’s King Power stadium on November 24^th.

If you are interested in purchasing a residential property at auction please contact Sharon Sangha, head of the Lawson-West Conveyancing department on 0116 212 1000 / ssangha@lawson-west.co.uk

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Is a £1 starting price for a property at auction the lowest on record?

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