Auction

Results from our Auction Events 16 and 23 April

Interest in real estate remains high as we again enjoyed welcoming a sizeable crowd to the Headsail Room, the main function room of the Bucklands Beach Yacht Club and the home of Ray White auctions.

As we have reported during recent weeks, the numbers of people that have been attending each week apart from our vendors and those who have registered to bid, is testimony to the interest in “what is currently happening” to the real estate market.

While we had identified bidding buyer interest for a number of properties within the portfolios for 16 and 23 April, it proved to be much more of a challenge to effect a sale under the hammer for our vendor clients. However, for 16 April immediately post auction, three properties were sold under the Auction For Sale and Purchase Agreement, which meant that those vendors achieved an unconditional sale.

An unconditional sale is the prime aim of an Auction Marketing Programme, so while we may not always achieve a sale “under the hammer”, negotiations immediately post auction can achieve the aim of achieving an unconditional sale.

We are still negotiating post auction for the balance of the portfolio to try and achieve vendors’  price expectations.

We were pleased to finalise  immediately post auction, unconditional sales for:

  • 23 Highland Park Drive
  • 15 Davita Place
  • 124 Botany Road

April 23 got off to a very positive start with 6 Ifield Court selling under the hammer at $920,000.  Very spirited bidding also resulted in a sale under the hammer at $890,000 for 4A Marlon Lane.  Three further properties are under serious negotiation, with the balance of the portfolio being referred for conditional buying interest.

There are always various reasons why potential buyers cannot meet the terms of an Auction For Sale and Purchase Agreement which as we have noted is a totally unconditional agreement, however, we try to work with these potential buyers to attract the best conditional sale for our client vendors.

Ken Ralph, Company Auctioneer