Bankrupt Katie Price risks selling mucky mansion ‘under value’ as buyers are put off by run-down state – The Sun

BANKRUPT Katie Price has been clobbered by another financial hammer blow as her mucky mansion risks being sold "under value" because of its run-down state.

She forked out £1.35 million for the country home before getting two mortgages on the property after struggling to make ends meet.

And after being declared bankrupt over her £800,000 debts, the 41-year-old has been forced to sign the 11-bed property over to a trustee.

In further bad news, the home isn’t worth much more than she paid for it five years ago – despite property in the Horsham area of Sussex rocketing by a whopping 21 per cent since 2014, according to Zoopla.

That means that Katie’s place should be worth another £283,500.

But an estate agent with a major national chain has told The Sun Online she’ll struggle to flog the pad for much more than then original asking price due to the condition of the place.

They claimed: “The place looks like a bit of a nightmare to be honest and I’d place it on the market at £1.5m with a view to coming to down to around the original asking price.

“She cannot take advantage of the steep rise in the market because of the state of the place.

“Major, major money needs to be spent and anyone driving up to view the place with that kind of cash to spend is going to have to see beyond the run-down state of the place.

“It doesn’t look like the kind of house where you could just move straight in and that will put off most buyers. They’ll simply look elsewhere – or offer a very low amount of money.”

The grounds are a rubbish-strewn mess, the swimming pool is decrepit and tennis court overgrown with weeds.

Inside, a buyer would want to redecorate and fit new carpets, kitchen and bathrooms – all costing tens of thousands of pounds.

The ex-model and reality TV star is now thought to be living with on/off boyfriend Kris Boyson, at his home in Kent for a few days a week and crashing with family and friends the rest of the time.

A bankruptcy charge has been applied to the house and it will be sold off to pay her monster debts.

A source said: “Katie faces being made homeless any day if the property is sold now that the bankruptcy charge has been applied.”

The sprawling 1930s pad stands in 12.25 acres and has stables and paddocks.

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