The young buyer won a keen auction for a house plus a bonus granny flat that can be rented out to help him pay the mortgage.
A first-home buyer bought into the northern beaches property market at auction on Saturday, purchasing a three-bedroom house with an approved two-bedroom granny flat for rental income.in Cromer.
Selling agent Frank Caterina from First National Real Estate Dee Why said it was rare to get two approved homes on the one title in the area. “Even though the long weekend probably distorted things a little bit and led to less listings and less demand, it’s still consistent [with the] broad slowing trend that we’ve been seeing in clearance rates.
Bidding opened right on the guide of $2.9 million in front of 40 people. With one single bid of $100,000 the $3 million reserve was met. Four developers bid in increments of $50,000 with a final $25,000 bid closing the deal. The deceased estate sold for $4,025,000, $1,025,000 above reserve.
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