We were appointed by the beneficiary to take this property 10 Denison Street Mayfield to the market.
The property was in need of a renovation. This presented an opportunity for a buyer to add value with some imagination, blood, sweat & tears. The buyer would have an option of flipping it or retaining it as an investment.
We believed at the time that an Auction was the best way to proceed. The open homes were well attended, but the feedback we received was “there is too much work to do to it”.
Unfortunately, we were unable to get any buyers to attend the auction. We understand that some buyers are reluctant to buy at Auction for fear of paying too much.
The property did sell shortly after the Auction for $595,000, The new owners plan to do some upgrades which may include re-configuring the home back to its original.
Sometimes Auctions are not always getting the highest sales price.
Please don’t hesitate to give Michael or Steve a call if you would like some advice about selling or renting.
Michael Arnold 0419 295 661
Steve Arnold 0419 947 980
