Real Estate

Investor flies in from Singapore to buy Hawthorn home $135k above reserve

Written by The ReReport

A Hawthorn house has sold $135,000 above reserve to an expat buyer who flew in and out from Singapore on the same day the property went under the hammer.

Two parties were expected to bid on the three-bedroom house at 29 Sercombe Grove, Hawthorn, according to Jellis Craig’s Elliot Gill.

But shortly after the auction opened with a $1.3 million offer, a surprise third and fourth bidder emerged.

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“Two of our four bidders first saw it on the day, so it’s amazing what can happen,” Mr Gill said.

The unexpected competition quickly pushed the home past its $1.4 million reserve and only paused long enough for the property to be called on the market at $1.45 million.

“We thought it could get to $1.4 million, but over $1.5 million, we are very happy with,” Mr Gill said.

“We didn’t think it would get to that level, but the property was attractively priced and in a good spot.”

Beyond not having seen the home before, the buyer had only arrived in Melbourne a few hours ahead of the auction.

“The buyer has flown in from Singapore in the morning and was flying out in the afternoon,” Mr Gill said.

“He went to another property that he almost bought, but ended up coming to ours and bought it.”

The buyer was heading back to Singapore later in the afternoon.

Three other bidders included a pair of investors and a family.

The double-storey weatherboard house is a short walk from schools, shops and eateries.

Two living areas look onto an outdoor entertainment space, and the home comes with off-street parking.

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