Property Auctions In Houghton-Le-Spring

Location: South Burn Terrace, New Herrington, Houghton-Le-Spring, DH4 7AW

Property type: Two bed mid terrace house

Reason for sale at auction: Structural defects

Seller: Moved out after insurance pay out

Guide price: £25,000

Sold price: £30,000

History of This Auctioned House in Houghton-Le-Spring

The owner had tried to re-mortgage the house to release equity. However, the survey showed signs of progressive structural movement which would only get worse to the point of being dangerous. The owner received an insurance pay out and quickly bought another property. They knew the structural issues would be a major problem for normal buyers so sale by auction was chosen as the most appropriate way to sell this Houghton-Le-Spring house.

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