Just $100 between owning and missing out on a house
Three house hunters have to start all over again after missing out by a mere $100 at a keenly contested auction.
A small increment was enough to break the bidding stalemate and deliver nearly $70,000 above reserve to a Wantirna vendor.
The buyer had only turned up at 18 Dumfries Way on the day of the June 29 auction and ended up with the keys.
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Three other buyers, including two seeking their first property, had put up a strong contest for the five-bedroom house on 724sq m.
The rain drove the crowd indoors where bidding started at $680,000 and saw $20,000 increments before stalling towards the end with $1000 and $500 bids.
“At the end, the buyer raised the last bid by just $100 and won it for $827,600,” Ray White Wantirna agent Ping Chu said.
“To achieve nearly $70,000 above reserve in the current market is a great result.”
The property was an investment rental for the vendors for eight years, and to prepare for the sale they renovated the kitchen and floorboards and repainted the property.
The Boronia buyer was looking to upgrade to Wantirna.
Ms Chu described the market in Knox as “picking up, with a lot of first-home buyers”.
“First-home buyers are keen to enter the market before the market goes up again, although supply is still short,” Ms Chu added.
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