£1 house for auction in Birmingham could be worth £175,000

Real deal or rip-off? There's a £1 house up for auction on a pretty street in Birmingham that could pay dividends, but the interior is a nightmare...

We're no stranger to a fixer-upper – dated decor, peeling wallpaper and ancient appliances are child's play for the amateur renovator. 

However, in the case of this three-bedroom terraced house in Birmingham, a lick of paint and some throw cushions definitely won't cut it.

Due to go under the hammer with SDL auctions for the bargain price tag of £1, the redbrick home looks relatively charming from the outside, with its gabled porch and quaint blue front door.

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Offering three ample bedrooms, two reception rooms, a kitchen, bathroom and gardens to the front and rear, the property listing is sure to pique the interests of decerning buyers looking for a good deal. Zoopla estimates that this property could be worth £175,000!

But once you step inside, it's clear that this dilapidated home is more than just a little tired. Crumbling plaster, exposed brickwork and piles of rubble offer an alarming welcome in this once-regal living room.

With its rusty retro cooker and cracked farmhouse-style sink, the kitchen is a derelict time warp. A washing line still hangs across the room, though judging by the floor, this space hasn't been occupied for years.

Things aren't any better in the bathroom, where the sink has come away from the wall, taking swathes of plaster with it. The roll-top bath harks back to the home's heyday, but we have a feeling the current fixtures are too far gone to save.

In the second reception room, patterned wallpaper peels from the ceiling, however, it's the ornate period fireplace and exposed floorboards that have caught our eye. With a lot of elbow grease, these original features could make a charming addition to a family home.

Sadly, signs of structural damage are all too evident. The most dramatic is this exposed section of roof, where only the support beams remain. It gives a whole other meaning to indoor-outdoor living...

In addition to the major structural work and refurbishment, the winning bidder will have to cover a 10% or a minimum of £5,000 deposit plus around £1,000 in fees.

Nevertheless, with local house prices in Acocks Green, Birmingham, coming in at an average of £184,940, it could still be worth taking a chance on this run-down residence.

Neal Hume, valuer at SDL Auctions Bigwood, thinks an ambitious buyer will see the home's potential.

He explained: “This property may be a ghost of its former self but any serious investor will have the vision to see beyond the disrepair and imagine the possibilities. It’s actually a really lovely house with some attractive features such as original fireplaces and picture rails.”

Before you sign on the dotted line, it's a good idea to get a structural surveyor to inspect the property so you know the scale of the remedial works needed.

Still feeling brave? Read the full listing before the property goes under the hammer on the 29th of October.

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All images: SDL Auctions