TWO buyers turned up the heat at the auction of a three-bedroom house in a popular East Geelong street.
The duo went toe to toe for the house at 38 Anderson St on a searing day where the temperature was already about 40 degrees, selling for $720,000 under the hammer.
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But Hodges, Geelong West auctioneer Marcus Falconer had to sweat out the first genuine offers for the property after starting the auction on a $600,000 vendor bid.
Price hopes before auction were $600,000 to $650,000.
Even once the first buyer entered the race, it wasn’t clear that a second bidder would be forthcoming as Mr Falconer prodded the crowd.
A second buyer eventually raised a hand.
After starting on $10,000 bids, each traded $5000 offers before sharpening their focus with $1000 increments.
The eventual buyer was acting for his sister, parked in a car in street nearby, who was relocating from Shepparton.
“It’s a great period-style home, an excellent street in an unbelievable location,” Mr Falconer said.
“You’ve for East Geelong village, the botanic gardens, the waterfront and in 20 minutes you’re at Barwon Heads, Portarlington.
“You’ve got the CBD right on your door. When you’re buying great real estate it’s the old thee to 5km radius from the CBD and I think an investment here will go incredibly well in the future.”
Listing agent Jeff Begg said the underbidders were a Sydney couple looking to relocate to East Geelong.