This £400,000 three-bed cottage with stunning views could be yours for just £175,000 – but there is a catch
The future of the Norfolk property, which boasts a conservatory, garden room and beautiful sea views, could be a real cliffhanger
THIS three-bedroom detached cottage with breath-taking sea views could be yours for just £175,000, but the reason why is a real cliffhanger.
The house, which also has a conservatory and front and side gardens, was originally valued at £400,000 but the owners have now slashed the price and any buyers will need to stump up cash WITHOUT a mortgage.
The reason for this is the property sits 18ft from the edge of a crumbling cliff on the Norfolk coast, where other homes have been lost in recent years, falling to the bottom of the 80ft rock face.
The current owners of Cliff Farm lived there happily for 18 years, but decided to sell their “ticking time bomb” two years ago.
The precarious position of the house and the impossibility of getting a mortgage have put buyers off, so the owners have been forced to sell at auction for a massively reduced price of £175,000.
Bryan Baxter, of property auctioneers Auction House, said: "It is a lovely cottage that has previously been valued at £400,000.
"But it is about 18ft from the edge of the cliff and is a bit of a ticking time bomb.
"The current owners have lived there permanently for 18 years and in that time the cliff edge hasn't gotten any closer.
"But further along the cliff there have been parts that have slipped away and some bungalows have been lost.
"The time has come for the owners to move on.
"The property could be there for another 100 years without any further falls but on the other hand if the cliff falls away in years to come the cottage could go with it.
"It is a bit of a gamble.
"We have had limited interest and people have had the opportunity to visit and assess the situation for themselves."