David Melatti
Investment Auction: Osborne Avenue, Glen Iris #AstuteInspected
The Astute Buyers Advocate Team visited Glen Iris on Saturday. We attended an auction listed by First National, of a 2 bedroom unit on Osborne Avenue.
The Home
The 2 bedroom unit was situated in a fantastic corner position of the block. The bedrooms had large built in robes, the bathroom had a shower and bath, laundry facilities and a separate WC.
The ground floor unit was light filled. By far the stand out feature was the newly renovated private courtyard garden, large enough for a entertaining table and more!
How much?
The median house price for a 2 bedroom unit in Glen Iris is currently $635,000.
This unit last sold in September 2015 for $625,000.
The indicative selling price on the day was $650,000 - $715,000
The Auction
So who was looking to buy this gem? An investor or a first home buyer?
The opening bid was made by a young male (1) for $640,000.
There were 3 bidders in total. We soon found out that the unit was on the market at $705,000.
The winning bid was made by bidder number (3), a young girl and her father for $710,000.
Interestingly this young girls partner was the young male, bidder number (1).
There are several different techniques people use at auctions to attempt to secure a home, some work, others don't. Getting a professional in who knows what works and when is a great idea.
If you need help bidding at an auction, visit our auction bidding division website, Hot Auction Bidders.
Click here to view our suburb profile on Glen Iris
Here's the other auction we attended in Glen Iris on Saturday!
