Opportunity Awaits
The Plan
Marcus bought the property 2.5 years ago with the plan to full renovate and rebuild the property. Marcus had plans drawn up, a DA approved and then decided to sell, instead of proceeding the the work himself.
The Process
As the property was in very poor condition (almost unlivable), the property had an external clean up completed and the plans printed then placed on display at the property.
Selling the property at the best price and unconditional was key to Marcus. The property had a building & pest inspection completed and an auction campaign chosen.
The Result
Following an extensive auction campaign, 48 buyer inspections, 10 bidders, the property sold at auction for $1,495,000. The competition of the auction was core in achieving the best price in the market. Competition between the last 3 buyers above reserve, pushed the sale price to a market best.
Buyer found: Ray White Buyer Database
Under Bidder: realestate.com.au
Campaign Details
Listed: May 2, 2024
Auction Date: May 23, 2024
Marketing Options: External Cleaning, Professional Photography, Realestate.com.au, domain.com.au and internal database targeting
First Open Home:
20
Second Open Home:
8
Third Open Home:
7
Mid Week & Private Inspections:
13
Sold Date:
23 May 2024
Bidders:
10
raywhitewestend.com.au
409
realestate.com.au
3,465
domain.com.au
442
Auction Bid History
| Time | Amount |
| 11:51:42 AM | Sold |
| 11:50:59 AM | $1,495,000 |
| 11:50:45 AM | $1,490,000 |
| 11:50:24 AM | $1,480,000 |
| 11:50:16 AM | $1,475,000 |
| 11:49:49 AM | $1,470,000 |
| 11:49:45 AM | $1,465,000 |
| 11:49:11 AM | $1,460,000 |
| 11:49:07 AM | $1,455,000 |
| 11:48:44 AM | $1,450,000 |
| Time | Amount |
| 11:48:39 AM | $1,445,000 |
| 11:48:04 AM | $1,440,000 |
| 11:47:35 AM | $1,420,000 |
| 11:47:06 AM | $1,400,000 |
| 11:46:57 AM | $1,350,000 |
| 11:46:21 AM | $1,300,000 |
| 11:46:04 AM | $1,250,000 |
| 11:45:37 AM | $1,200,000 |
| 11:45:19 AM | $1,100,000 |
| 11:45:06 AM | $1,000,000 |
Sales Review
Seller's Review
Marcus Schultz
Luke provided regulator detailed updates during the campaign, and his initial estimate of the property value was accurate, given the final result. I would not hesitate to work with Luke again, as the entire process was straightforward and very well managed.
