A terraced house on the outskirts of the South Yorks city is up for auction with an ultra-low guide price – but you might see why it's so cheap when you take a look inside.

On paper, the house – which is listed on Rightmove – is a good-size property with four bedrooms, two reception rooms, two bathrooms and a garden.

But four-bed houses don't come this cheap without a catch.

The home is full of rubbish and looks like a "war zone" inside, said auctioneer James Vandenbrook, of Regional Property Auctioneers, who is selling off the property.

The house was previously owned by "a bit of a hoarder," Mr Vandenbrook added, and it's been empty for about two years – so it will need a complete renovation, including a new kitchen and bathrooms.

Restoring it could cost anywhere between £20k and £50k, experts told The Sun.

"It needs a lot of work doing to it," Mr Vandenbrook said.

"But it's been really popular this lot.

"We've got 40 to 50 punters on this one. I'm expecting there to be a full [auction] room and to get a good price."

Mr Vandenbrook says he expects the property to actually sell for about £30k.

Meanwhile, independent property expert Henry Pryor told The Sun he expects it to sell for up to £25k.

Similar sized properties on the same street have sold for £80k recently, so a renovator could make as much as £35k if it sold for £25k and renovating it cost £20k.

But if bought for £30k at auction and renovation costs reached £50k, the buyer would only recoup the money spent.

Mr Pryor said: "I expect the biggest individual cost will be clearing out the house which, from the photographs, looks like it would embarrass The Lady in The Van."

He added: "Someone buying this property is going to put in a new kitchen, bathrooms, re-plumb and re-decorate before then asking Alan Titchmarsh to come in and do the garden."

"While the pre-auction guide is just £15,000, I expect that the auctioneers will do better on the day," he continued.

"As regular viewers of Homes Under the Hammer know, the guide is often a tease and with excitement and enthusiasm on the day properties often make more."

The house will be auctioned off on Wednesday at the Doncaster Rovers Football Club at 2pm if you're interested.

How to buy a property at auction

  • Arrange a viewing before hand, if possible.
  • Research the property thoroughly before the auction and ask local estate agents and neighbours for their opinions.
  • Carry out usual property/land searches
  • Read the terms and conditions of the sale carefully. Always get legal or professional advice, and in some cases a chartered surveyor.
  • Make sure you have enough money to pay 10 per cent deposit on the way.
  • Get your mortgage in place before you bid. You could lose your deposit if you fail to complete within 20 working days.
  • Remember that the auction is a legally binding contract. If you win, it's yours…there's no going back on it.

If the hoarder house doesn't take your fancy, we've revealed the best locations for single people to buy a house.

Or you could buy a house with a friend, after we shared the story of two mates who clubbed together to buy a £280,000 house in Oxford.

Depressing statistics revealed last year show that single first-time buyers need to save for over a DECADE before they'll have enough for a house deposit.

Be in control of your bills – and save up to £518

  • Sign up, compare and switch with Switchcraft
  • You’ll automatically be switched at the end of your new plan when a cheaper deal comes up
  • Get £5 free cashback when you sign up

A fiver will be paid into your bank account within four months of completing the switch. prepayment meter customer customers will receive a £5 Amazon voucher. Open to those 18 and over. UK residents only. Click here for full T&Cs.

We pay for your stories! Do you have a story for The Sun Online Money team? Email us at [email protected] or call 0207 78 24516. Don't forget to join the Sun Money's Facebook group for the latest bargains and money-saving advice.

Source: Read Full Article