Cheap property buy in Skerton. Looks promising

This looks to be interesting two bed terrace in Skerton,  Lancaster which has just been reduced to a very good asking price of £69,950.

Broadway, Skerton

The agent says it’s ready to move into with its modern kitchen and appealing wood burning stove.  It appears to be UPVC dg and gch.  Ok, you’ll want to sort out the decor but at if you could get this for £65,000 you have a gross yield of over 8% and that is being cautious with rent figures at just £450pcm.

So why is it so cheap?  Looking at the agents details it appears to be a repossession.   Is this one for your portfolio?

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