Today I went to a house auction for the first time. Just for the experience.
We had a quick look inside the three bedroom house built in 1890. Large rooms with such high ceilings.
The auction process took place out on the pavement and street. Bidders had to register and therefore had a number card to raise. The auctioneer gave out the legal details, deposit amount required today, completion in forty five days. The bidding started at $500,000 increased in $10,000 jumps, a few people dropped out, increased further in $5,000 jumps, then in $1,000. A couple of agents were on the phone representing bidders from interstate or overseas. The house sold at $640,000.
It was a fascinating and exciting process, an interesting way to sell a property.And I’ve ticked another thing off my “new things to do” list.