A Craigieburn home sparked a 45-minute auction marathon, attracting 78 bids before selling to local investors for $718,200.
A 45-minute “ego” battle ended in heartbreak for one hopeful homebuyer who yelled out to rivals before losing a 78-bid auction marathon to a local investor.
The three-bedroom Craigieburn home at 8 Stockton St, in Melbourne’s north sold for $718,200 on Saturday as four active buyers fought for the keys in one of the longest bidding wars seen in the area in years.
Ray White Craigieburn sales agent Adrian Prestileo said one bidder had already missed out on several other homes and was preparing to attend another auction if she failed to secure.
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“She was very emotionally invested in an outcome,” Mr Prestileo said.
“She was very charismatic and just yelling out at the other buyers, saying, ‘I’m excited. I want it done. I want to buy a house.’”
The home had been listed with a $660,000-$680,000 price guide, with bidding understood to have opened at the bottom end of the range before pushing into the high $600,000s.
Auctioneer Trish Orco handled the 45-minute auction, which Mr Prestileo said dragged out as buyers repeatedly made small bids.
“I haven’t seen that many bids in one auction for a long time,” Mr Prestileo said.
“It was insane.”
The sunken front lounge was among the family-friendly features that helped the Craigieburn home attract fierce auction competition.
A formal dining room added flexibility to the three-bedroom home, which drew four active bidders at auction.
Mr Prestileo said the auction had reminded him of another Craigieburn sale years earlier that attracted more than 100 bids and nearly made his team late for their next auction.
But at Stockton St, he said the fight became personal once buyers realised they were close to securing the home.
“There were four active bidders,” Mr Prestileo said.
“It came down to ego.”
The eventual buyers were local investors, with Mr Prestileo saying the home’s location and land size were major factors behind their interest.
Set on about 744sq m, the single-level house has three bedrooms, two bathrooms, a sunken front lounge, formal dining room, open living and meals zone and a stone-top kitchen.
It also has ducted heating, evaporative cooling, timber floors, security shutters, a four-car garage and additional garage or workshop space at the rear.
The home’s built-in bar added a retro entertaining touch to the Craigieburn property, which sold after a 78-bid auction battle.
The home is within walking distance of Craigieburn Station, local parks, Aitken Creek trails, bus routes, schools and Craigieburn Plaza.
Mr Prestileo said one of the investors told him he wanted the house because of the block and location.
“He said he was buying because of the location,” Mr Prestileo said.
“To get that land size in that spot, that’s why he was paying more.”
Mr Prestileo said the result showed buyers would still compete for the right home, even as parts of the Melbourne market remained cautious.
“The atmosphere was great and it was electric,” he said.
“It was really good compared to what we’ve seen over the last month or two.”
The updated bathroom formed part of the well-presented home that local investors fought to secure at auction.
The sellers had owned the home for more than 20 years and were moving on after one of them secured work on the other side of Melbourne.
Mr Prestileo said the sale marked the end of an emotional chapter for the owners, who no longer needed the larger home.
“They wanted to move on to their next chapter,” he said.
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