BUYERS had different views of the value of a california bungalow at Geelong’s Richmond Crescent.
The four-bedroom weatherboard house overlooking Richmond Oval from a 642sq m block at 4 Richmond Cres sold after Saturday’s auction for $840,000. McGrath, Geelong agent Will Ainsworth said the sole bidder placed a $780,000 bid on the house before it was passed in.
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“They’re a young family looking at moving down from Melbourne,” he said.
“They were absolutely ecstatic, they loved the area and the oval and the size of the land. That’s what drew them to the property.”
But it might not have been as they buyers had been searching for a house in Belmont, missing out at another auction a fortnight ago.
“He hadn’t even looked at this property when we told him about it,” he said.
Mr Ainsworth said he was surprised there weren’t more bidders making offers.
“There were people that had expressed a level of interest.
“But they weren’t at the price point. Where the buyer opened the bidding at was where the other groups were seeing value,” he said.
The four-bedroom house close to South Geelong’s train station and primary school had classic period features like high ceilings, polished floorboards and leadlight windows.
It also offered a kitchen with stone benchtops, a breakfast bar and stainless steel appliances and a covered rear patio.