Source : the age
A family paid $1.21 million to buy a Cheltenham house on Saturday, after beating three other bidders at auction.
The three-bedroom home at 4 Amber Court had a modern renovation and sits on a 635-square-metre block.
Ray White auctioneer and director Kevin Chokshi listed the house with a quoted price range of $1.05 million to the reserve price of $1.15 million.
Two bidders were families, one was an investor and the other a developer who was considering knocking the house down, Chokshi said.
“It’s an older home that’s been tidied up, from the mid ’60s. There’s plenty of room to extend or renovate in the future,” he said.
“The land size played a big role, the location was good. It’s in a spot called the ‘golden triangle’ with lots of good schools nearby.”
The three-bedroom home had a modern renovation.Credit: Domain
Bidding started low, at $900,000 and Chokshi said potential buyers were slow to get involved. “They were hesitating at the start, and it kicked off after the first couple of bids,” he said.
The auction was one of 723 scheduled across Victoria on Saturday.
In Brunswick, a two-bedroom Victorian home passed in despite a short flurry of bidding.
The house at 47 Gold Street had a 10-year-old renovation which included an upper floor with an open living area, and solar hot water.
Nelson Alexander agent Carl Sacco listed the house with a quoted price range of $900,000 to $990,000.
Listing records show the property was a rental and was last advertised for rent in 2023 for $570 per week.
The auction began with a vendor bid of $900,000 and two young people traded five small bids before the house was passed in at $925,000. The highest bidder spent about 20 minutes negotiating, but a deal couldn’t be reached.
Sacco said the home was yet to sell at the time of publication.
