The Starting Bid on This Historic Mansion in Scotland Is Just $1

Attention aspiring lords and ladies: your chance to own a fairytale castle in Scotland is here.

A French Gothic mansion in the coastal Scottish burgh of Arbroath is on the auction block, and the starting bid is just £1 (approximately $1.23).

OK, so it might not be everyone's idea of a fairytale. The Elms, which was built sometime in the 1850's and has sat abandoned for years, admittedly needs a good bit of work. But National Property Auctions recommends looking at the crumbling manse as a "massive opportunity for a developer to restore the building to its former glory."

Originally built as a home for the mill-owning Corsar family, The Elms operated as a hotel until World War II when it was requisitioned by the War Office. It was later transitioned into an orphanage. Currently, it's listed as an "unsafe property," which, according to National Property Auctions, means it's in a "condition that poses a serious risk to the health or safety of occupants or visitors."

And then there are the rumors that the derelict estate is haunted. Just look at this spooky video tour of the grounds from 2014. Gulp.

Though bidding started at £1, the current bid is up to £104,000 (about $130,000). Health hazards and haints aside, that's a pretty unbeatable price for a property as significant and potential-filled as this one.

Interested in submitting a bid on The Elms? Register with National Property Auctions and submit your bid here. The auction closes on July 17 at 11 a.m. BST.

Good luck!