Home fails to sell at auction
ONE of the Warwick homes inundated with water in the January flood went under the hammer at the weekend, although its future is still in limbo.
Owners Rosemary Addis and Jim MacPherson decided to put it on the market two weeks after the two-bedroom Pratten St home had one metre of water through it.
It was used as a rental property.
The auction on Saturday afternoon attracted a small crowd of 15, including four registered bidders.
Bidding began slowly at $100,000.
It failed to reach the reserve price and the home was passed in at $170,000, but Remax agent Nicola Beggs said she was still happy with the proceedings.
“We have another person interested and we're speaking with another two people,” she said.
“The neighbour next door is also very interested and so we'll hopefully get away after the auction.”
Ms Beggs said it wasn't unusual for a house not to be sold at auction.
“A lot of properties aren't selling under the hammer, but are negotiated post auction,” she said.
“It's just a reflection right across the market. People are using auctions as a method of sale.
“By not putting a price on it, it doesn't dictate what people will pay.
“But to have four registered bidders for one property is good.”
Ms Beggs said she hoped to have a result on the Pratten St home by today.
Another property up for auction on Saturday by Remax was sold.
The Grafton St two bedroom home on half an acre sold for $185,000.