Inside the home listed for unbelievable amount

Ash Cant
·3-min read

A three-bedroom Welsh home may sell for an astonishingly low amount next month, with the price guide set at zero.

The terrace house set to go to auction in March on Brynmair Road, in Aberdare, Wales, is expected to sell for quite a bit, though the minimum opening bid is just £250 or $A444.

Technically, if only one bidder is present they could potentially secure the home at the opening price. The chances of this happening though are extremely slim.

"A bay fronted, mid terrace house located within a popular residential area of Aberdare," the listing description on Paul Fosh Auctions reads.

While renovations will be necessary, the reason to home is listed for such a low price is due to the property's leasehold being up in just a few years.

Despite having a starting bid under $A500, a three-bedroom home in Wales might fetch quite a bit more when it goes to auction. Source: Paul Fosh Auction
Despite having a starting bid under $A500, a three-bedroom home in Wales might fetch quite a bit more when it goes to auction. Source: Paul Fosh Auction

"You own a leasehold property for a fixed period of time," the Welsh Government explains.

"You will have a legal agreement with the landlord (also known as the freeholder) about how long you will own the property."

Paul Fosh Auctions did state in the listing it does benefit from a gas combination boiler, which has not been tested.

The three bedrooms located on the upper floor are rather spacious and on the ground floor are two reception areas, the front room featuring a bay window.

The kitchen on the lower floor is situated in front of the bathroom.

In addition to a small garden bed in the front, the terrace backs on to a decent sized backyard.

The home is located near amenities and neighbouring towns.

Wales Online dubbed the property 'Wales' cheapest house', while also noting though the price guide is 'nil', the house is bound to fetch much more when it goes under the hammer.

As Paul Fosh Auctions said as a disclaimer, generally the guide is just a reflection of the current home owner's expectations.

The home features two reception areas, though the property may require updating. Source: Paul Fosh Auctions
The home features two reception areas, though the property may require updating. Source: Paul Fosh Auctions

"They are not necessarily figures which a property will sell for and may change at any time prior to the auction," it says.

Speaking to Wales Online, the agent handling the sale, Ryan Saunders, said the low price guide is due to the property having a "relatively" short time left on the lease and the property being a leasehold.

Mr Saunders said the lease on the home expires in 2054, so the new owners could extend the lease or negotiate buying the home.

The home won't be auctioned online until March 16, however Mr Saunders said the home has already had quite a bit of interest.

"There has already been strong interest in the property which I expect to continue on through to the sale next month," he told Wales Online.

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