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Prospective investors and first-time house hunters will have the opportunity to grab a bargain when the cheapest house in Coventry goes under the hammer at this month’s Loveitts auction.

The three-bed mid-terrace property, situated on Larch Tree Avenue, Tile Hill has a guide price of £60,000 to £70,000 and is a perfect opportunity for a buyer looking to refurb or for a unique investment opportunity.  Comprising three bedrooms, lounge and kitchen areas, a dining room, bathroom facilities and front and rear facing gardens, the freehold property has vacant possession.

Situated just 2 miles outside of the city centre, the property requires decoration and modernisation throughout.  

Experts at Loveitts are confident that this property will be a huge hit at the auction because of its highly competitive guide price.

Also on offer is a three-bedroom maisonette in Cottage Farm Road, Coventry.  Again an ideal investment opportunity this leasehold property has a guide price of £50,000 - £70,000, has an EPC rating of C and 98 years remaining on the lease.

Loveitts Director and Auctioneer, Sally Smith said: “Both of these properties are a brilliant opportunity for either first-time buyers who wish to make their way up the property ladder or aspiring investors who look to make a return on their investment.

“A significant amount of interest has already been received, so we predict demand on the night will be incredibly high.”

The popularity of auctions as a means of selling has grown significantly in recent years, with multiple vendors opting for this method for the buying and selling of properties. 

Sally added: “The rise of people attending our auctions is a sign that this method of buying and selling properties is growing in popularity.

“We expect another high turnout at our auction on Wednesday 21st November and this can only be attributed to the success and confidence amongst our vendors who opt to sell their house by auction rather favouring the traditional route to market.

“With 30 lots featured at this month’s auction, we have something for everyone with several low-priced family homes, some fantastic land opportunities, a beautiful Leamington town centre flat and a range of fantastic investment prospects.”

The auction will take place at Village Urban Resort in Canley, Coventry, CV4 9GZ, on Wednesday 21st November at 6.30pm. Anyone interested in attending or bidding does not need to register.