Have you ever heard of a house being sold for just £10? Well, that is what is happening on Leeson Road in Ventnor! This property was badly hit by a landslide last year and is now up for grabs with a guide price of only ten pounds. Let’s dive into this weird situation and find out why such an intriguing offer is on the table.

In December 2023, a massive landslide hit Leeson Road and destroyed plenty of it, forcing homeowners in the area to have to leave their houses. It was one of the biggest landslides the South of England has seen in recent times. The slide left a trail of destruction that has made many homes uninhabitable. The affected area included the house now listed for sale.

This 2-bedroom house has stood vacant since the landslide and has only just been placed on the market; it’s set to go to auction this September 27. It’s listed with a guide price of just £10, but-as one might suspect-there’s a catch: you can only bid if you have cash. Online Auction Bidding If you want in on this steal, you’ll have to register on the auction site in advance:.

For safety reasons, no one can view the house in person at this time. Even the auctioneers have not been in a position to view the property for themselves. They have described the house as suffering only ‘minor’ structural damage. Anyhow, the worst of the damage was further up the road, closer to Cowleaze Hill, where the landslide caused the most devastation.

Even at this exceptionally low price for the house, there is one thing to remember: such a low price does not indicate that the property is in good condition. There was a landslide that made the terrain around Leeson Road quite unstable. Therefore, anyone who is willing to buy this house should be prepared for any problems that may arise and at an extra cost.

The Leeson Road was closed for a period of time following the landslide. It reopened this summer only. For the boreholes drilling, now the road will be again closed temporarily. These are part of measures to ensure safety in the area and prevent landslides in the future.

While it’s a far-out dream to hope that a house might be snatched up for just £10, there are just so many things to consider. The area in which the house was located may still be at risk. Landslides often have long-term consequences on the ground’s stability, and more often than not, making this property livable again might just take more work than expected.

This being very unique in the context of real estate auctions, one would do due diligence in researching potential purchases. Research all available information about this property and area. Not being able to physically view and with the auctioneers not even having been inside the home, interested buyers will have to be as resourceful as possible through online content.

The sale isn’t about the house per se but about what that house represents: the impact of natural events on property markets and how unusual situations give rise to quite extraordinary opportunities. A house for £10 sounds almost like the stuff dreams are made of, but one should not be oblivious to the challenges and risks involved.

If you’re going to bid on this property, be prepared to do some legwork. Be sure the conditions are well understood and what you are getting yourself into. It may be worth talking with a property expert who can let you know the potential costs and issues with landslide areas.

In other words, this property deal in the house on Leeson Road is not any deal but the essence of land that has lived its significant natural event. The price tag is low, invitingly so, and yet, it is a hothouse flower, with its one set of peculiar challenges. If one feels an adventure and ready to handle some potential difficulties, he gets a golden opportunity to own such a unique property at an incredible price.

So, if you have £10 and a sense of adventure, circle September 27th in your diary. It might just be the weirdest property transaction you will ever encounter! But remember, with great deals comes great responsibilities. Be prepared for whatever’s lurking should you decide to take the plunge.