Investor pays $85,000 over reserve for run-down Terrigal home
Investor pays ,000 over reserve for run-down Terrigal home
Investor pays $85,000 over reserve for run-down Terrigal home
Sydney
02/04/2017, 5:00 am
02/04/2017, 5:00 am
Jill Stevens is a real estate reporter for the Daily Telegraph.
A TERRIGAL home sold for $735,000 at auction on Saturday, easily surpassing its $650,000 reserve.
Eight registered bidders and plenty of eager locals attended the auction of 84 Willoughby Rd, creating a crowd of more than 50 people.
Agent Alyssa Gorry of Raine and Horne Terrigal said the bidders included a mix of locals and Sydneysiders.
“It was nice that it went to a local family,” Ms Gorry said, adding that the home’s new owners plan to use it as an investment property.
The home has two bedrooms, one bathroom and parking for a one car, and sits on a large 696sq m block.
It offered good value for Terrigal, where the median house price is $820,000 and the median unit price is $693,750.
The seller will stay in Terrigal, but is downsizing to a smaller property.
Source: real estate news and property market realestate.com.au