Multiple bidders fought it out for the keys to 2 Ware St, Lara.
SERIOUS subfloor problems so bad most of the doors won’t close didn’t slow the bidding for a bargain property sold at auction in Lara.
A Geelong buyer snapped up the decidedly wonky four-bedroom brick house at 2 Ware St for $386,000 on Saturday.
Competition from multiple bidders helped beat the 693sq m property’s modest reserve by $56,000.
A big crowd turned out to see Ray White, Lara agent Terry Cleary auction the property.
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With smaller vacant blocks of land in Lara’s new estates selling for upwards of $250,000 some potential buyers had been looking to demolish the house and rebuild.
But the new owner said he planned to fix the structural issues with a view to moving in with his family.
Some renovations have been carried out inside.
Ray White, Lara agent Terry Cleary said there was no denying the centrally located house needed a “hug and a kiss”.
“It’s a fantastically sized block of land and if you are prepared to do the work on the property you will be rewarded,” Mr Cleary said.
An inspection of the partially renovated house revealed cracking and uneven tiled floors along with an updated kitchen and bedroom.
Lara’s median house price has hit $479,000 on the back of 15.4 per cent capital growth in the past 12 months.