A house that went up for sale at auction with a guide price of £1 and no reserve, has sold for £21,000.
The fire-damaged property, which was too dangerous to be viewed, attracted fierce bidding at the auction in Cardiff.
The eventual buyer was a carpenter from London, who had hoped to pay around £15,000 but can expect the property to be worth about £50,000 when done up.
Sean Roper, from Paul Fosh Auctions, said: “It was very competitive in that room, and there were four or five people bidding for the house.
“It certainly exceeded expectations, but that was probably due to the impressive amount of interest raised by the nil reserve – that’s a very, very rare occurrence.”
If this agent has set a guide price of a pound then the property has sold for £21,000 he has undervalued this by some margin.did he really think the house would sell for a pound ?
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I’d have been quids in to buy that property.
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