Charming three-bedroom detached house goes on sale for just £5k – but it needs A LOT of work

A CHARMING three-bedroom detached house has gone on sale for just £5,000 - but not all is what it seems.

The property, located in Dumfries and Galloway, Scotland, is up for grabs with Auction House Scotland next month.

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But the house, which only costs the buyer a mere £5,000, will need a lot of work to spruce the place up.

The description on Auction House reads: "Fantastic builder/developer opportunity to purchase this three bedroom detached cottage situated in the popular village of Moniaive which is rarely available for auction.

"This property is in need of extensive works but would make a fantastic purchase for the right buyer with similar habitable properties valuing upwards of £200,000."

The house offers an entrance hallway, a cosy lounge area, kitchen, a shower room and three bedrooms.

The home is going to auction in Glasgow in September with a guide price of £5,000 and up, reported the .

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Despite the house boasting potential to be a great property once fixed up, the current financial climate urges buyers to think twice before purchasing.

In 2004, at the height of the house price boom, more than 60,000 homes a year were bought, done up, then sold on for a profit in England and Wales.

Last year, only 18,630 houses were transformed - making it a huge drop of 69 per cent in 14 years, figures from Hamptons International show.

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