Three-bedroom Scots cottage flat could be yours for £20,000 but there's a catch
Scroll down to see images of the property
BARGAIN BUY Three-bedroom Scots cottage flat could be yours for £20,000 but there's a catch
A THREE-BEDROOM Scots cottage flat is set to go under the hammer for just £20,000.
The property on Wylie Crescent in Cumnock, Ayrshire, is described as a "fantastic" development opportunity.
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The home could be doing with some TLC
Credit: Auction House
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It boasts three spacious bedrooms but they do need work
Credit: Auction House
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The toilet needs a full revamp too
Credit: Auction House
It boasts three spacious bedrooms, a kitchen, a bathroom and a lounge.
Situated in the rural town of Cumnock, the home is just sixteen miles from both Ayr and Kilmarnock.
And the nearby train station in neighbouring town Auchinleck provides services to Glasgow and beyond.
With a guide price of just £20,000, it will go up for auction on Thursday, May 15.
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Prospective buyers will have the chance to view the property on Tuesday, May 13.
And with other properties in the same area having sold for as much as £59,000, there's a good chance you'll get some bang for your buck.
But there is a catch.
The home is in desperate need of a full refurb.
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Images of the property show mould and dampness covering the walls of the bedrooms and the existing wallpaper peeling off.
The kitchen and bathroom look like they could be doing with some much-needed TLC, and the artex ceilings may not be to everyone's taste.
Martin Roberts' tips for buying houses at auction
However, once the work is complete, buyers have the opportunity to add value to the property.
To rent it out, experts say it should achieve £6,760 per annum at local housing association rates.
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The listing on Auction House Scotland reads: "Going under the hammer is this fantastic opportunity to acquire this three bedroom lower cottage flat on Wylie Crescent.
"The accommodation comprises an entrance hallway which leads to the lounge, kitchen bathroom and three spacious double bedrooms.
"The property will require a full programme of refurbishment which presents an opportunity to add value, on completion of works the property should achieve £6760 per annum at local housing association rates.
"To ensure you do not miss out on this opportunity, early viewing is highly recommended. Council Tax Band: A."
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