Glen Iris house sells for $2.47 million after hitting reserve in one bid

Glen Iris house sells for $2.47 million after hitting reserve in one bid

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“The vendors are very happy. It was a win-win for everyone really.”

It was one of 1016 Melbourne auctions scheduled for Saturday.

In Carlton North, a terrace sold for more than its reserve price in a post-auction contest, after two parties of first home buyers let their nerves get the better of them on the auction floor.

Nelson Alexander’s Charlie Barham had the listing for the two-bedroom house at 132 Lee Street; he said he passed the property in after no one topped his vendor bid of $1.1 million.

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He had listed the house for sale with a quoted price range of $1.1 million to $1.2 million. The reserve was at the top of the range.

“The two parties that had an interest, they went to and fro, and we had an auction after the auction,” he said. “For one reason or another they chose not to bid. We get that from time to time.

“We find in the first home buyer pool, bidding can be a nerve-wracking thing.”

The home sold for $1.28 million, $80,000 more than its reserve price.

Barham said the buyers liked that the property was ready to move in to and was nearby local restaurants and cafes.

“It was a great entry-level, renovated terrace in Carlton North,” he said. “It’s literally a few hundred metres off Rathdowne village, near Florian, which is the bee’s knees these days.”

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