Last ditch attempt to buy Gold Coast house at auction pays off

first_imgWhen $580,000 was called, the Morgans made a final bid of $581,000 when the hammer came down.While no strangers to buying property, their purchase was still a shock. The Southport duplex attracted a lot of attention at auction.“It’s the first time (we’ve bought) at auction, we normally do it through private treaty,” Ms Morgan said.“But we’re really excited, it’s like a new chapter.”They attended The Event intending to buy on the day but only if the price was right.“We were happy to walk away if it wasn’t,” Mr Morgan said.“We’ve spent a lot of time researching and trying to find the right property.” They were attracted to the duplex on Meyer St because it was in a medium density zone, they could renovate it and it offered good rental return.The sale proved to be a bargain for the Morgans with property records showing both two-bedroom residences last sold for $645,000 in April 2017.More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoMore than 80 properties went under the hammer yesterday as 11 sold prior to the auction. MORE NEWS: Fancy your own luxury resort? Ray White Surfers Paradise Group’s The Event drew a big crowd.A QUICK decision to bid an extra $1000 ensured Aaron and Celeste Morgan would walk away from the nation’s biggest auction event with an old duplex in their names.The pair were among several prospective buyers vying for the Southport property at Ray White Surfers Paradise Group’s auction extravaganza The Event on the Gold Coast yesterday.As the first property to go under the hammer at Royal Pines Resort, it attracted plenty of attention.A $300,000 offer kicked off the auction when a bidding frenzy broke out, with offers gradually climbed in mostly $10,000, $5000 and $1000 increments. MORE NEWS: Nation’s largest auction event tipped to rake in millions Ray White Queensland chief executive Tony Warland said there was nothing quite like The Event.“It’s not just a day of bidding and purchasing, it’s essentially a property expose where people are able to take advantage of a suite of stalls that offer services to assist home buyers and sellers,” he said. “January is exceptionally busy for all of our businesses on the Gold Coast, with auction events running throughout a 10-day period across the region.“Stock levels are lower than this time last year and because of this we’re seeing a huge amount of inquiry that results in properties being on the market for a shorter period. “The auction method in particular helps reduce days on market and to increase competition.”The number of properties sold at The Event had not been finalised at the time of publication. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy location is everything in real estate01:59last_img read more