Fierce competition was the order of the day at the auction of a Cumberland Park bungalow which sold a whopping $246,000 above its price guide on the weekend.
The 1926-built home attracted eight registered bidders and sold for $1.5 million – well above its reserve of $910,000 and price guide of $900,000.
Selling agent Josh Morrison of Magain Real Estate said the property proved popular from the first open, with predominantly family buyers drawn to the four-bedroom home.
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“We had a lot of young families interested in the property and that’s who it sold to – a local family,” he said.
“Bidding was very spirited and started at 900,000 and went up to $1 million in just four bids.
“Up to that point, it really was between two families but we had another bidder jump in after it reached the $1 million mark and he was the one who got it.
“It really was a great result but also a bittersweet sale for the vendors as we were selling the property for two young lads. This had been there family home.”
Mr Morrison said the property’s main appeal had been its spacious layout with four bedrooms, two bathrooms, and an open-plan lounge, dining and kitchen area at the rear.
Outside delivered the perfect space for entertaining family and friends, all while watching the kids play among the grassed area and established gardens.
The property also came with side access and a triple length carport, as well as a separate driveway – accessed via Rothermore St.
“During the three weeks of opens, we had around 300 people come through the home but we also did a lot of private viewing,” Mr Morrison said.
“We knew right from the first open that we’d have at least three bidders on auction day, because people really loved the home.
“It was really well finished, set on a big block and, in general, was just really nicely done.”