For Sale by Tender Continued

As mentioned on May 5,2010 under Tender Please, Fletchers Real Estate Balwyn North were selling Vera St, Bulleen by tender. Auction date was scheduled for May 15, 2010. When speaking to the agent regarding this property, she said that the vendors were not quoting and wanted to sell the property by tender. As a buyer, I found this very strange. The property was not a commercial property and was not a property of high distinction. It was an ordinary, three bedroom suburban home.

I did not want to put myself in a position where I would be offering too much for a house that was not worth it. The property ended up going to auction and was not sold prior. It was advertised as POA (Price on Application).

Property sold at auction for $746,000. A little disapointing considering other properties in the area such as Sandra St, Bulleen sold for $825,000, Pinnacle Crescent, Bulleen sold for $915,000 and Barak St Bulleen sold for $945,000.

Perhaps if the selling price had been more transparent, interest in the property would have been greater. As for me, due to the vendors initial choice of sale (i.e Sale by Tender and I' not sure if this changed along the way) I ruled this property out long before it even made my short list.