A property in Telford, Shropshire, has been put on sale for the tiny asking price of just £35,000 on RightMove. While other homes in the same area have recently sold for well over five times this price, homeowners may question why this one is so cheap. Another near identical two-bedroom property located just half a mile away is currently selling for offers of £160,000, which makes the cheap property stand out. It is a two-bedroom semi-detached house located just one mile from the nearest train station so seems to be a prime location, yet it is still very cheap.
The property semi-detached and comes with a garden and two allocated car parking spaces.
Inside, potential buyers will find a kitchen and breakfast area, large lounge and cloak room.
The house also has two double bedrooms and a separate bathroom for homeowners to enjoy.
Currently on sale by Barbers estate agents, the property is said to be in a prime location.
The listing said: “Situated in the established residential locality of Ketley the property is served by a range of neighbourhood facilities at the local district centres of Hadley and Oakengates.”
It is then revealed there is also a modern shopping centre and leisure facilities just three-miles away, making the bargain price even more puzzling.
In the description of the property, it is quickly made clear why the buyer would not have to part with too much cash.
The asking price will only give the buyer a 25 percent share in the property, meaning they are only paying for part of the house.
The listing explained this is a Shared Ownership Home so on top of the asking price, the tenants will still need to pay a monthly sum of money to live there.
A rent and service charge would need to be paid of £289.50 per calendar month.
Although the property is going for much less than market value, it is important that the buyer understands what the shared ownership will mean for them.
If hoping to buy a cheap property, a four-bed house was put up for sale for just £5,000.
It is revealed potential buyers may not even need to get a mortgage but an explanation can be seen as potential homebuyers click onto the property listing.
The terraced home, marketed by Property Exchange, Newton Aycliffe, is only available as a part buy, part rent offer.
Heading to auction can also be a great way to grab a bargain on a new property and one four bedroom house was recently listed with no reserve price.
This means that the stunning home in Ebbw Vale, South Wales, could potentially sell for as little as £1.