Real Estate

Old property attracts 18 registered bidders on auction day

Old property attracts 18 registered bidders on auction day
Written by The ReReport
As seen in the Source link, written by realestate.com.au on 2019-07-11 14:44:00

This Edensor Park property generated huge buyer interest when it hit the market.

A modest home filled with original features has stirred hot auction action and sold for $810,000 — soaring above price expectations.

The long-time owner of the Edensor Park property put it on the market for the first time since it was built in the ’80s.

According to selling agent Frank Bartolone from McGrath Liverpool, the house at 4 Wilding St generated interest as soon as it was listed for sale.

It was the first time the property changed hands since the vendor bought it in 1987 for just $35,000, CoreLogic records reveal.

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“The level of interest was surprising and far more than I was expecting — we had 74 inspections and there were 18 registered bidders on auction day,” Mr Bartolone said.

“It came down to the way the house was presented. It definitely wasn’t location that won buyers because other properties in the same suburb sold the same day in the early $700,000s,” he said.

The house hit the market for the first time.

Interested parties were given a guide of $700,000 during the campaign but fierce bidding between a handful of buyers quickly pushed the figure up.

While the agent asked not to reveal the reserve, he said the sale price finished well above it.

The four-bedder sold under the hammer.

On a 554 sqm block of land, the three-bedroom house has two bathrooms, formal and casual living areas and a rear courtyard.

The property was snapped up by local buyers who are downsizing. The seller, who was pleased with the result, plans to retire on the Central Coast.

A private outdoor area meets a flat lawn.

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The latest CoreLogic data shows Edensor Park residents stay in the area for 14.1 years, on average — about four years longer than the Sydney average.

The suburb, which is 31km from the CBD, saw 82 property sales in the 12 months to April.