Four bedroom Devon home with excellent sea views on sale for just £25,000 (but it's about to fall down a cliff) Land behind Tor Cottage, in Devon, has slowly been eroding over the years A house next door has already partly collapsed into the sea The house is worth £400,000 but is being sold for just £25,000 A four bedroom cliff-top home worth £400,000 is being sold for just £25,000 - because it is at risk of falling into the sea. The 'superbly refurbished' property and gardens offer stunning views across the ocean and the coastline in Torquay, Devon. But despite being located in one of Britain's most exclusive areas the home is on the market for a mere £25,000 - because of its location near eroding cliffs. The stunning Tor Cottage which is on the market for £25,000 because it is at risk of falling into the sea The property sits precariously close to an eroding cliff edge that has already sent the neighbouring dwelling crashing 150ft into the sea below An order is in place preventing any potential purchaser from staying overnight and they will need to prove it is safe before moving in permanently The land behind 'Tor Cottage' has slowly been eroding over the years and it now sits just 150 yards from the edge. A house next door has already partly collapsed into the sea and been condemned following two massive landslips in a year. The former owners of Tor Cottage have moved out and sold it to a firm which specialises in selling challenging homes. It is in such a perilous spot an order is in place preventing any potential purchaser from staying overnight - and will need to prove it is safe before moving in permanently. A brochure describes Tor Cottage as 'an interesting opportunity to acquire a superb four bedroomed detached fully refurbished house with balcony enjoying fine sea views in a cliff top cul-de-sac position'. But auctioneer Graham Penny admits the new buyer would be taking a risk and could either get a bargain - or a flop. The former owners of Tor Cottage have moved out and sold it to a firm which specialises in selling challenging homes Aerial views of Tor Cottage (circled) in 1999 (left) and 2005 (right) show how the cliff is eroding in the direction of the house A house next door has already partly collapsed into the sea and been condemned following two massive landslips in a year He said: 'The property's enviable sea views does mean it's relatively close to the cliff edge and other neighbouring properties have experienced substantial subsidence in recent years. 'It's impossible to say whether Tor Cottage will be subjected to subsidence itself. Indeed it's possible a shrewd buyer could get a return on their investment if Mother Nature is kind to them.' The home was on the market for £365,000 in November 2011 and should now be worth around £400,000 - but the price tag isn't the only thing that has plummeted. If the successful buyer does their homework and obtains the correct surveys prior to purchasing then there is clearly a degree of risk involved. However, Tor Cottage and the land it is on do have potential as an investment opportunity House Buyer Bureau's sales director Chris Hodgkinson Tor Cottage is about 100 yards from the crumbling remains of Ridgemont House, which has almost disappeared entirely over Oddicombe Cliffs in Torquay, Devon. Retired policewoman Sue Diamond bought Ridgemont for a knockdown £154,000 in 2010 but it was condemned one week later. Her home is now a heap of a rubble on the beach below and its neighbour Tor Cottage has lost 94 per cent of its value. It boasts an open-plan living room, dining room, 27ft x 20ft fitted kitchen, a study and four double bedrooms, all set in a large garden with parking and a garage. The advert for the sale admits that no survey has been carried out and the neighbouring property has suffered from 'severe subsidence'. Its plight is so perilous that worried officials have slapped the property with a temporary verbal prohibition order. It means that a buyer would not be allowed to sleep in it and will have to commission their own survey and prove the property is stable before they can move in full time. A brochure describes Tor Cottage as 'an interesting opportunity to acquire a superb four bedroomed detached fully refurbished house with balcony enjoying fine sea views in a cliff top cul-de-sac position' The property boasts an open-plan living room, dining room, 27ft x 20ft fitted kitchen, a study and four double bedrooms The advert for the sale admits that no survey has been carried out and the neighbouring property has suffered from 'severe subsidence' The property is currently owned by the House Buyer Bureau, which boasts it will buy any house. Details of the previous resident have not been disclosed but he or she is likely to have made a huge loss on the house. House Buyer Bureau's sales director Chris Hodgkinson said: 'We advertise that we buy any residential property and that's exactly what we've done. Tor Cottage is in a wonderful location and in another part of the town would sell for many times the guide price. 'The property and its plot have stunning views of the Devon coastline; however it's not those sea views that have influenced the low guide price. However, Tor Cottage and the land it is on do have potential as an investment opportunity. Tor Cottage goes under the hammer next month.