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 out by the end of it.” The original living room.
Market conditions for Geelong property was purely driven by location at the moment, he said, with worn down homes on large blocks selling — if they were in a good spot. “(The home) really only gained interest in the last five days before auction. People were just happy to just rock up,” he said.
“It’s really nice to see that there is competitive bidding out there for homes that basically need to be demolished.” – MORE: Young couple lands cute Belmont house minutes from High St ‘Behind the line’: Vic home situation could cost state $1bn+ King Charles buys luxury Billionaires’ Row condo sarah.petty@news.
com.au.
