A handful of properties with guide prices of just £1 will be offered at auction this October, as sellers look to offload difficult assets.
In Birmingham, SDL Auctions Bigwood will be offering 93 Douglas Road, a derelict three bedroom house in Acocks Green, to the market with a guide price of just £1 and a reserve of £1.
The property, which is being sold as a deceased estate, has been left in a state of extreme disrepair and is in need of major renovation work including a new roof, replacement ceilings and floors.
It will be sold by SDL Auctions Bigwood at Villa Park, Birmingham, on 29 October.
In Rotherham, a fire-damaged three bedroom semi-detached house in Thurnscoe is to be auctioned with a guide price of £1 and no reserve.
75 Deightonby Street will be offered at auction on 22 October by Mark Jenkinson & Son at Sheffield United Football Club.
Last month Bond Wolfe Auctions offered two homes in Teeside for guide prices of £0 and £1. The first, 40 Dundas Street in Stockton on Tees, eventually sold for £36,000, while 34 Victoria Road in Thornaby sold for £18,000.
“We’re seeing a growing number of cases where vendors are saying to us let’s just let the room decide what it is worth on the day,” said Neal Hume, valuer at SDL Auctions Bigwood.
“Some are coming under pressure from local councils which are threatening to use CPO powers to take possession of vacant properties.”
