3 View St, Belmont sold under the hammer on Saturday. A Belmont home ready for the wrecking ball sold under the hammer for more than $50,000 above its reserve price. The four-bedroom house at 3 View St had $589,000-$639,000 price hopes and a $630,000 reserve price at its Saturday morning auction which was smashed by $51,000.
RELATED: Custom Manifold Heights entertainer nails classy rebuild Highton home’s fancy pool cover delivers year-round splash Odd $239k home dubbed a ‘nightmare’ due to bizarre toilet It was offloaded for $681,000. Barry Plant Highton principal Kieron Hunter said the home needed a lot of work but it was in a great location and on 789sq m of land. “It’s basically land value,” Mr Hunter said.
“I think by the time you add up demolition costs, a renovation, it’s close to $1000 a square meter.” The expansive backyard. He added that there were four groups bidding at the auction, all of which saw the property for the first time that day or just a few days before.
Mr Hunter said a local property investor snapped up the home and didn’t even have plans yet of what he was going to do with it. Bidding began with an offer of $580,000 and went up in $5000 and $10,000 increments. Mr Hunter said he received a lot of bids from the crowd about 40 who came out into the “super chilly” weather.
“It was good turnout considering it was a blizzard,” he said. “I couldn’t feel my hands and feet at one stage, so I was struggling to fill the contract o.