After a fierce battle of the first home buyers, the winners picked up a quaint two-bedroom home with period features.
A fierce battle of the first home buyers led to a young Sydney couple forking out $1.66 million for a pint-sized Newtown house on Saturday as agents across the city reported a drought of investors., it was two active first home buyers who duelled for the keys, and the winning couple paid $60,000 over the reserve.Through the help of a buyer’s agent the underbidder threw down a strong opening bid of $1.
In Leichardt, the lure of daily croissants and coffee from a nearby hot new bakery helped a three-bedroom, two-bathroom Federation classic atnot only fetch a reserve-smashing $2.33 million but make its vendors an almost $1 million profit. “It then came down to two bidders; one was a first home buyer and the other an upsizer and it was slowly competitive until the upsizer got it. They’re expecting a baby in the next few weeks, and they just managed to muscle out the first home buyer by $10,000,” he said.
While six registered bidders fronted up to the 9am auction, he said five were active and it was mainly between the underbidder and the buyer, who answered every offer with an aggressive counter. She said it was the buyers who kicked off bidding at $2.4 million, with $50,000 increments offered between them and the underbidders – another family – until it stalled at $2.6 million.
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