A cliffside property reported to be at risk of crumbling into the sea does not sell at auction, according to available reporting. The home is listed with a guide price of £250,000 and fails to find a buyer despite claims of significantly higher underlying value. Sources state that the owners paid £695,000 for the property in June 2011. The property’s normal market value is described as between £1.1 million and £1.6 million, placing the auction price far below the stated valuation range. The reports describe the property as being on a coastline where erosion and instability pose a risk to the structure, though no additional details on engineering assessments or the specific condition of the cliff are provided in the excerpts. Overall, the coverage focuses on the failed sale at auction and the gap between the auction price and the broader valuation figures, highlighting the financial impact on the current owners.
Cliffside property at risk of collapse fails to sell at auction for £250,000
A cliffside property reported to be at risk of crumbling into the sea does not sell at auction, according to available reporting. The home is listed with a guide price of £250,000 and fails to find a...
- A cliffside home at risk of crumbling into the sea fails to sell at an auction.
- The auction price/guide price is reported as £250,000.
- The owners paid £695,000 for the property in June 2011.
- The property’s normal market value is described as between £1.1 million and £1.6 million.
- The reported valuation is several times higher than the auction price.
The owners took a massive hit after paying £695,000 in June 2011 for the property, whose normal market value is listed at between £1.1 and £1.6million.
4 hours agoThe owners took a massive hit after paying £695,000 in June 2011 for the property, whose normal market value is listed at between £1.1 and £1.6million.
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