British house sells for $13,125

March 29, 2012 at 5:26 PM

FERRYHILL STATION, England, March 29 (UPI) -- A British house sold at auction for $13,125 is believed to have set a record of the lowest price paid for a house in Britain.

The price fetched for 29 Church Street in Ferryhill Station, England, during the auction Wednesday at Hardwick Hall in Sedgefield, England, was $2,784 less than the price of a Burnley, England, home that was previously thought to be the lowest-priced house in Britain, The Guardian reported Thursday.

The man who placed the winning bid said he was acting on behalf of a young family with the necessary funds to fix up the property.

Sandy Hodges, 52, whose son previously lived in the house, said it has problems including a lack of ceilings, a "destroyed" kitchen and constant rattling from passing trains.

The house previously failed to sell in an online auction when the $797 high bid didn't reach the reserve price.

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