Competitive Perth auction surges $500,000 over reserve
A hotly contested property at 11 Hotchin Street, Dalkeith, has sold at auction for $500,000 over reserve, shocking both the agent and the sellers.
The seller, Matthew, said he couldn’t believe the result.
“When we first bought the home we loved the aspect, the trees and a quiet street. We knew we were going to do a renovation to make the most of that with the big open-plan living design,” Matthew said.
“We included some of the original character elements like the Jarrah flooring and beautiful cornices.
“We had sold via the non-auction route before and didn't actually end up selling. Im from the UK and in the UK auctions are generally reserved for deceased estates, and that’s not the same here.
“Vivien explained the process and all the ways it could play out. It seemed like a win-win situation.
“We were a bit nervous about being at the house for the auction, but it was so exciting, it was ridiculous.”
Ms Yap said there had been keen interest throughout the campaign.
“The auction was destined for the 25th of July, but we brought it forward because we could feel the buyers were ready.
“At the end we had bids of $1000, it could have been anyone’s for just an extra $1000 bid!”