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Auction offers rare £1 guide prices for houses in Liverpool and Oldham

Two north-west houses are up for sale with guide prices* of just £1 each at Bond Wolfe Auctions next auction in Birmingham on Tuesday 10 September.

 The first of these unusually priced lots is a two-bedroomed, mid-terraced house at 9 Meldrum Street in Oldham, Lancashire – where a house two doors away was sold for £62,000 in September 2018.

It’s been given the rock-bottom guide price because it’s fire-damaged and needs serious renovation.

 The other lot with a £1 guide price is a three-bedroomed, semi-detached house at 10 Primrose Court in Huyton, Liverpool – where a nearby property sold for £85,000 in August 2016.

 This one’s currently vacant and boarded up and will also need works, but both lots are expected to see fierce competition from bidders.

 Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “It’s rare to start auction lots with guide prices of £1, but because of one being fire-damaged and the other being boarded up we can only offer external viewings.

 “Each property obviously needs investment to return them back into decent homes, but for the right investors these could provide two of the best bargains available across the UK in 2019.”

 Mr Bassi explained that while the £1 guide price was low, prospective owners would still have to pay the standard auction administration fee of £1,074 including VAT for each property. 

 He said that some auction properties can have further costs and it is always recommended that potential purchasers read the legal pack.

 The north-west properties are just two of the 140 lots going under the hammer in Bond Wolfe Auctions’ next sale on Tuesday 10 September at 10.30am at the regular venue of the Holte Suite at Aston Villa FC.