Three bedroom home could be yours for just £10k – but there’s a catch

THIS three bedroom home could be yours for just £10,000, making it one of the cheapest on the market, - but there's a catch.

The mid-terrace property in Grimsby, Lincolnshire, is a steal given current house prices, but will need a bit of TLC to make it habitable.

The low price is largely due to the fact that it will need a full renovation before anyone can move in.

Photos from inside show that it is completely stripped out, with unpainted walls, bare brick and unfinished wooden flooring.

It is being sold by Auction House Lincolnshire, who say it presents ";significant scope to add value" in an area with "high rental demand".

The house would be ideal for an investor and landlord searching to expand their portfolio, or even a family with the time and money to do it up.

The description on the listing read: "The property presents a perfect opportunity for the discerning purchaser.

"This is a development project where work has already commenced, and the purchaser will have the benefit of a blank canvas."

Located in a popular residential area of the town, it boasts three first-floor bedrooms and a possible space for a family bathroom.

On the ground floor there is a hallway, sitting room, dining room and space for a kitchen.

The sale will be an unconditional online auction with immediate exchange on April 24.

Viewings are by appointment only with the agents.

It comes after a seaside home in North Wales was listed for just £345,000 due to its own grim catch.

Meanwhile, one couple felt cheated after spending their life savings on a newbuild instead of a development project, but finding it to be a disaster.