A five-bedroom, two-bathroom house in Queensland,

Australia, is currently on the market for just under

$600,000, but theres a reason why its so cheap.

According to the real estate listing

posted by PRD Real Estate, the house

which is just a few minutes from the

beach is experiencing subsidence.

Translation? Its sinking.

In an interviewwith realestate.com.au,

marketing agent Danny ODonnell said that he

was surprised by how many people were interested

in the beach house despite the subsidence.

I spent four days straight answering calls. Each

time I hung up, I had seven new voice messages.

By Saturday morning Id had over 100 text messages

and phone calls and 58 emails. It was crazy.

When ODonnell hosted an open house

for the literal sinking ship, he was

shocked to find more than 200 people

lined up to tour the property.

Within days, PRD Real Estate had

offers that ranged from $550,000 to

$675,000, well above the asking price.

The owners of the house ended up accepting

a cash offer from a local buyer for $647,000

More here:
This 5-bedroom house is deeply discounted but there's a catch - Yahoo Lifestyle

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