My parents house went for auction today .
Roseville , 25 year old , three bedroom , 2 baths double garage , walk station . Good condition , neat clean and tidy but a cosmetic renovation wouldn't be out of order.
For the last few years they'd been told it was worth around 1.3 .
After looking at the market , they thought it was worth around 1.4 . Had two agents around . One said 1.3 to 1.5 , other said 1.5 -1.6 . His partner thought 1.5 was more like it . They would have sold at 1.4 but officially the reserve was 1.5
Went on market last weekend and had multiple contracts and offers on the first day so went to auction today . Mainly Chinese people interested.
Took about 3-4 mins to drag the first offer out but kept on going all the way to 1.701.
One side light was the sewerage diagram . The only one they could find related to the previous house on the block . Because it was an auction thy could put in a clause saying they didn't have it and basically " buyer beware " . Apparently the responsibility for sewerage diagrams has changed recently in NSW and currently it can be a painful wait getting a new one . This caused my dad an anxious couple of days trying to find it .....At the auction one potential buyer raised this as an issue and said they'd been told by their solicitor that if they bought the house , they'd need a new solicitor ...personally I think this was a move to try and spook other buyers but it didn't work . Some people who had expressed interest didn't bid , but I think it just went too high for them .
Two very happy parents .
From this sample of one , in a hot market , pre Christmas seems a good time to sell . If you're desperate , you'll still be looking
Cliff
Roseville , 25 year old , three bedroom , 2 baths double garage , walk station . Good condition , neat clean and tidy but a cosmetic renovation wouldn't be out of order.
For the last few years they'd been told it was worth around 1.3 .
After looking at the market , they thought it was worth around 1.4 . Had two agents around . One said 1.3 to 1.5 , other said 1.5 -1.6 . His partner thought 1.5 was more like it . They would have sold at 1.4 but officially the reserve was 1.5
Went on market last weekend and had multiple contracts and offers on the first day so went to auction today . Mainly Chinese people interested.
Took about 3-4 mins to drag the first offer out but kept on going all the way to 1.701.
One side light was the sewerage diagram . The only one they could find related to the previous house on the block . Because it was an auction thy could put in a clause saying they didn't have it and basically " buyer beware " . Apparently the responsibility for sewerage diagrams has changed recently in NSW and currently it can be a painful wait getting a new one . This caused my dad an anxious couple of days trying to find it .....At the auction one potential buyer raised this as an issue and said they'd been told by their solicitor that if they bought the house , they'd need a new solicitor ...personally I think this was a move to try and spook other buyers but it didn't work . Some people who had expressed interest didn't bid , but I think it just went too high for them .
Two very happy parents .
From this sample of one , in a hot market , pre Christmas seems a good time to sell . If you're desperate , you'll still be looking
Cliff