Mosman townhome sells within 90 minutes of coming to market
A Mosman townhome sold within minutes of its owners signing up with an agent on Friday night.
The super-fast $2.8 million deal was also $300,000 over their expectations, the agents reported.
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The three-bedroom, three-bathroom townhome at 14 Prince St was bought by a local couple who have been looking to buy in the area for the past three months.
They approached agents Nick Gittoes and Anthony Godson, of LJ Hooker Avnu, after missing out at a recent auction.
“The buyers approached us to find a property off-market for them,” Mr Gittoes said. “It’s a type of inquiry we’re constantly fielding as stock levels are so tight.”
The agents signed an agreement with the owners of 14 Prince St, at 5.30pm on Friday, and had the buyers waiting in the wings to see the property at 6pm.
Half an hour later the buyers made their first offer, and after some negotiations, the property was sold for “well over the expectations of the owner”, Mr Gittoes said.
“By 7pm, the contract was exchanged, with everyone thrilled with the result,” he said. “This is definitely the fastest sale I have been involved with.”
He said the buyers were highly motivated to find a home in Mosman.
“They showed up with a chequebook, wrote us a deposit and we exchanged unconditional contracts, all in an hour and a half,” he said.
But it wasn’t only the speed of the sale that will delight the owners of the property. They bought the home in 2011 for $1.45 million, and have almost doubled their money in just eight years.
“They renovated the two upstairs bathrooms but that’s all — the rest is original,” Mr Gittoes said.
The most recent comparable sale was a neighbouring townhome, which was fully renovated and sold in May last year for $2.55 million.
Mr Gittoes said the owners of No. 14 were going to undertake a renovation and put the property on the market next year, but were happy with the decision they made to sell early.
The lower north shore market continues to fire, driven by a lack of stock and strong buyer demand.
Last weekend’s auction clearance rate of 91 per cent blitzed the general Sydney clearance rate of 78 per cent.
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