An extremely rundown Terrigal home with “major issues” has finally sold after four months on the market and 256 inspections.
The property at 19 Tilanbi Close, which sold for $640,000, had been described in the ad listing as ‘no home beautiful’.
However despite it dilapidated state, the home was extremely popular with buyers, receiving 7,838 hits on realestate.com.au.
Selling agent Rod Amos was candid about his experience selling the home.
“I was honest with buyers – I would basically start off inspections like a Taronga Zoo tour guide, showing people all the cracks in the walls and the previous termite damage,” he said.
“The structural consideration sent about 90 percent of buyers running.”
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AFFORDABLE HOME A HIT WITH BUYERS
Mr Amos said that the property had 32 inspections with builders, brickies, concreters and engineers and that all prospective buyers needed second or third opinions. The property needed about $50,000-$100,000 in work.”
Despite all this, there was a phenomenal amount of interest in the home, with about 60-70 percent of inquiry coming from locals.
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“There was huge interest because it was a great street. The neighbours were great too – I’d arrive at the open houses and they would be there blowing the driveway clean – they said I’d spent enough time at the house so they thought they’d help. The amount of time I spent at the house, the commission earned would have equated to about $5 an hour,” Mr Amos said.
The property was eventually purchased by a local person in the building industry, who basically snagged the block at land value.