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Is it a house or a maze? Quirky terrace with more than 20 ROOMS going under the hammer next month

Is it a house or a maze? Quirky terrace with more than 20 ROOMS going under the hammer next month

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An ordinary-looking terraced house going up for auction next month could take prospective buyers by surprise once they take a peek inside.

The inside of the house has been described as 'maze-like', with more than 20 rooms spread across two main floors. Only three are currently used as bedrooms.

The house has been in the same ownership for 50 years and is being sold at auction with vacant possession.

Located in Great Yarmouth, Norfolk, it has a guide price of between £100,000 to £110,000, excluding fees.

The mid-terrace house was originally used as a fisherman's smoke house.

For around 150 years, the house was also used as the headquarters of Bloomfields Marquees, a marquee business, with the marquees initially transported to their new owners via horse and cart.

Unique: A three-bed terraced house in Great Yarmouth is headed to auction in September

Now the house has CCTV, an intruder alarm, solar panels, gas-powered central heating, a garage and is 'mostly' double-glazed, according to Auction House, the auctioneer selling the property.

On the ground floor there is a bar area, with a sign above providing a nod to the house's history as a former marquee business.

According to Auction House, the terraced property is 'deceptively spacious, incorporating a range of buildings to the rear.'

It said the extra buildings at the back could be used for storage or, subject to getting planning permission, turned into further bedrooms or even a new development.

While the property will need reconfiguring and updating, many of the rooms are in good order. One of the living room spaces has mint green walls, comfortable cream armchairs and a small chandelier-style light.

The property has one spacious bathroom featuring a bath and separate shower.

For creative people, the house would provide a number of spaces to develop for an artist's studio, pottery studio or other workshop.

The house is being sold freehold and has an energy performance certificate rating of D.

Look closer: The garage space used to be an entrance for horses and carts

Hidden history: The living area features a sign showing the house's former life as the headquarters of a marquee business

So many rooms: The terraced house in Great Yarmouth has more than 20

Get creative: The property could be ideal for a workshop or artist's studio

Living quarters: Internally, the living spaces in the house have been well maintained

Possibilities: The house has an auction guide price of between £100,000 to £110,000

Comfortable: The Norfolk house has one spacious and well-appointed bathroom

History: The property used to be the headquarters for a marquee business

Back in the day: In a former life, the mid-terrace house was originally used as a fisherman's smoke house

Particulars: The property has gas power and a handy kitchen

Options: One of the three bedrooms in the Great Yarmouth property

Floor plan: The floor plan of the property shows just how many rooms it has

The unique property is going under the hammer on 10 September. Seven viewing days are being arranged, but must be booked in advance.

Robert Hurst, auction surveyor at Auction House East Anglia, said: 'It looks like a standard terrace house, but when you enter you realise it's a lot more than that.

'A multitude of rooms with adjoining buildings behind offer great space and potential.'

Auctions are one area where good deals still come up. Properties sold this way can, in some cases, be substantially cheaper than on the open market.

According to Property Auction News, the average price properties sell at auction for is around £166,000.

However, properties sold in this way often - though not always - come with added complexities for the buyer.

It is therefore important to do as much research as possible before buying any property at auction.

Where possible, always visit the property in person before the auction.

Do not underestimate how much renovation work or reconfigurations could cost if you are taking on a project property.

Read legal documents for the property carefully and, when possible, get advice from a solicitor before heading to the auction.

Sometimes, the legal pack includes 'special conditions' that mean you might also be liable to pay an additional three per cent fee to a sales agent.

Before submitting any bids, always check what sort of price similar properties in the area have sold for. This will, of course, be harder if it is a more unusual property that you are after.

If you do bid, do not get carried away and bid more than you can afford.

Most properties bought via auction have a 28-day competition date and home loans for auction properties can be harder to get.

Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible.

Buy-to-let landlords should also act as soon as they can.

Quick mortgage finder links with This is Money's partner L&C

> Mortgage rates calculator

> Find the right mortgage for you

What if I need to remortgage?

Borrowers should compare rates, speak to a mortgage broker and be prepared to act.

Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it.

Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees.

Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone.

What if I am buying a home?

Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be.

Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power.

What about buy-to-let landlords

Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages.

This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too.

How to compare mortgage costs

The best way to compare mortgage costs and find the right deal for you is to speak to a broker.

This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice.

Interested in seeing today’s best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs.

If you’re ready to find your next mortgage, why not use L&C’s online Mortgage Finder. It will search 1,000’s of deals from more than 90 different lenders to discover the best deal for you.

> Find your best mortgage deal with This is Money and L&C

Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.

Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage

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