It had all the makings of becoming one of Adelaide’s top auction events of the year. But not even fame and fortune could help sell the home of Netflix’s Yummy Mummies stars’ Maria DiGeronimo and Carlos Vannini.
Despite attracting two registered bidder, the four-bedroom home at 7 Burlington St, Golden Grove, was passed in at auction with a vendor bid of $690,000 – $50,000 below its advertised asking price of $740,000.
The event left a crowd of about 60 onlookers flabbergasted, with some leaving before the second auction call was made.
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Auctioneer Troy Tyndall of LJ Hooker St Peters/Glynde/Adelaide City said, while the result was disappointing, he remained confident that the home would sell in the days ahead.
“We’re now in negotiations with buyers that couldn’t bid under auction conditions,” he said.
“So while the property didn’t sell at auction, it did create an outcome because they have come out of the crowd…and waved their flags to say they are interested.
“So there is absolutely a chance that the property could sell in the next few days.”
Mr Tyndall said it was not uncommon for properties to sell days after the auction but admits, that current lending restrictions had made selling homes under the hammer more difficult.
“It definitely has made things more difficult and we find that there are now less buyers in a position to bid,” he said.
“What we have seen in the past with people coming to an auction is that they don’t bid and get finance later.
“But at the moment, that whole process takes three weeks. So if you have a three week auction campaign and it takes three weeks to get finance, that means they’ve got to get their finance started the first day they see the property to get their pre-approval on time.
Ms DiGeronimo, who spoke to The Advertiser in the lead up to the auction, said the home had been a great place to raise their daughter, Instagram star Valentina, 2.
The couple, who separated after the program aired but have since reunited, bought the home for $690,000 in April, 2015, according to CoreLogic.
“It was a quiet cul-de-sac and we thought it would be nice and safe for a child,” Ms DiGeronimo said. “Everything about it brought me to the idea of bringing up a family in that area.
“We worked so hard to get that house and we transformed it and put our heart and soul into it and it was a big thing for me because I’d gone from living at home to living in a big house.”
Ms DiGeronimo says the family have loved their time in Golden Grove, but it was time for them to move on to the next stage of their lives.
“With everything, sometimes it’s just a stepping stone to where you need to go and move forward to,” she said.
“We never know, we might look at moving actually interstate or overseas, we’ve got ideas.”