Property for sale: Three bedroom terrace house listed on Zoopla for only £10,000 – why?

When it comes to buying a house, Britons know they’ll have to part with a lot of money. Cheap properties are hard to come by in the UK, so when the price is lower, the property tends to be snatched up immediately. One house which is likely to turn the heads of potential buyers is this three-bedroom end terraced property.

The three-bedroom end terraced property was recently listed on Zoopla for just £10,000 – much less than the average price of a UK deposit.

According to the Nationwide Building Society, a typical 20 percent deposit in London was around £80,000 in 2018.

The house – which is located in Sedgemoor Road, Willenhall, Coventry – not only has three bedrooms, but it also has a bathroom, a spacious garden and open plan kitchen with breakfast bar, which will come in handy when entertaining guests.

The property has two floors, and buyers can find on the first floor a spacious kitchen which also has patio doors leading straight out to the garden.

READ MORE: Mrs Hinch property: Cleaning expert shows off chic family home

The kitchen is designed in an ‘L’ shape and open plan style, which can double up as a dining area due to the extra space, with a useful breakfast bar attached to the side.

The kitchen of the property provides heaps of space and opportunity for storage, with multiple cupboards and draws available.

As well as a kitchen on the first floor, there is also a hallway and a spacious living room.

The listing also boasts that the property benefits from having a gas fired central heating system and UPVC double glazing.

Get rid of fleas: How to banish pests in house [PEST CONTROL] 
Is your home a burglary hotspot? [SECURITY TIPS] 
Estate agents: Should you use an online agent? [EXPERT ADVICE] 

On the second floor, buyers can find a bathroom with a functioning toilet, a washbasin, and a long bath/shower.

Through the hallway, buyers can also find two medium sized bedrooms and one large master bedroom looking out towards the main road.

The listing describes the property as: “An end terraced property standing back from the road behind a fore garden.”

So why is it so cheap? Is there a catch?

A further look at the description and the further inspection of the images listed, the reason behind the lower price becomes a lot clearer.

The property is for sale by public auction, listed by Bond Wolfe Auctions.

And the £10,000 asking price is only a “guide price”.

The “Guide Price” is an indication of the seller’s minimum acceptable price at auction.

Furthermore, the terraced property has been vacated for a number of years, therefore the property will need to be fully refurbished.

Interested buyers will need to bid at an auction event on February 27, 2020, at Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE, to purchase the property.

However, this is not the only property that has been recently listed on Zoopla for a cheap price.

A “delightful” two-bedroom dwelling has been listed on the property site for just £28,000.

The house – which is located in Leysdown-On-Sea – has two bedrooms, an open plan kitchen, and comes fully furnished.

The property only has one floor, and buyers can find a special lounge area, with patio doors leading straight out to the garden.

The kitchen of the property is modern and newly refurbished with honey-roasted countertops, silver set sink and classic white cupboards that provide heaps of space and opportunity for storage.

The kitchen also includes a cooker, washing machine, and stove and also offers space beside the fridge for a dishwasher to be added by the buyer.

Further into the property, there are two bedrooms and a Jack and Jill style bathroom, which is complete with two points of entrances, a new shower, a water closet, and washbasin.