A Warrawong home which had been in the same family since the 1950s has sold under the hammer.
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A crowd of about 50 people were present to watch the auction unfold on Saturday.
The selling agent and auctioneer, Chris Stylis from LJ Hooker filled us in on the sale.
The property: The three-bedroom home at 121 Cowper Street, Warrawong. Sitting on 556 square metres, features include a home office/guest bedroom, detached workshop, and a block suited for a granny flat at the rear (subject to council approval). It was being sold as a deceased estate.
The result: It sold for $650,000, which met the reserve price.
What made the property special?: The home had been in the same family since the 1950s and had been built by that family. It's got very good bones; it was built by a craftsman originally.
It was in need of some TLC. We had a lot of inspections throughout the campaign; many of those were first home buyers.
Setting the scene at the auction: There were two registered bidders for the on-site auction.
There were about 50 people in attendance. Many were neighbours and curious onlookers, and some potential buyers who were wanting to see what happened.
How did the bidding unfold?: Only one of the two people bid on the day. The opening bid was $600,000, which was followed by a vendor's bid of $630,000. The bidders then went to $640,000, and we negotiated with them to up their bid, which they did, and met the reserve.
Where is the buyer from?: The people who bought it are a couple in their sixties, who had been living elsewhere in Warrawong, and had sold that home. They bought this one to make it their last home; renovate it, keep it, and live in it.
I believe they have bought other homes to renovate and sell in the past, but they said this is their last home, they're not going to leave this home. They really like Warrawong - everything is at their door, all the amenities.
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Brendan Crabb
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
I'm a member of ACM's national property team, covering the Illawarra and South Coast. Based in Albion Park, NSW, I write about exciting, interesting or just downright quirky properties that have been listed for sale, major sales, market trends, auctions and more. One of my favourite aspects of being a journalist is I believe everyone has a story to tell. What's yours?
