A home sold by the Sheriff’s Office has sold for a huge price.
A dilapidated single-level terrace in Newtown has sold for a whopping $1.606m, more than $600,000 over its price guide.
Inside the home there was old furniture, boxes of clothes, abandoned mail and what appeared to be mould on the walls.
The run-down property at 26 Kent St selling under the hammer and was being sold off by the NSW Sheriff’s Office via BresicWhitney real estate agents.
The price guide was $1m and the listing described the property as “a chance to secure a classic house in the heart of the area,” with “loads of future potential.”
It’s unknown how the property came to be in this state or the circumstances of the sale.
Regardless of the shabby state, and auctioneer Thomas McGlynn saying it “needed some TLC,” buyers were eager to make it theirs with fierce and fast bidding.
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The run down Newtown home has sold for $1.606m
Interior in the front bedroom.
The auction attracted a huge crowd of bidders, onlookers and neighbours all keen to see who the new buyer would be.
At least four buyers were actively bidding all eager to breathe life back into the home, with many others registered not having a go for the keys.
Bidding opened at $1.1m with desperate home buyers offering multiple $1,000 bids to try and come out on top.
“There’s more drama here than Universal Studios,” auctioneer Thomas McGlynn said as more $1,000 bids came in at the 11th hour.
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Furniture all left in the same state.
Mould appeared to be growing on some of the walls.
The home was a short walk to the Enmore Theatre, Newtown Station and the night life and eateries on King St.
Currently the house price median for a two-bedroom house in Newtown is $1.7m, according to PropTrack data, up 10 per cent year-on-year.
The home was marketed by BresicWhitney’s Renae Dickey who declined to comment.
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