A Berrinba house smelling of mold and maggots has been sold at auction which attracted 16 registered bidders.
The three-bedroom, one-bathroom house at 26 Fifth Ave was falling apart during a home sale Saturday afternoon, with 10 bidders willing to buy it anyway.
The auction was set up as an emergency that had to be sold after the house was destroyed by the owner’s son who had been living there since the sale was taken to a senior center.
This maggot-infested house at 26 Fifth Ave, Berrinba, saw 16 people sign up for an emergency auction on Saturday.
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This home has been turned into a warehouse since its owner had to move, and all its waste inside was sold.
While it sits on 623 sqm of land, the home itself is falling apart: full of holes and mold throughout the house and moisture problems in the cramped garage.
But a string of local buyers felt the opportunity for an affordable property 30 minutes from the city was too attractive to pass up.
A crowd of over 40 people gathered that day to see the auction, with bids starting at $680,000.
A crowd of 40 people gathered to see sixteen subscribers compete for the building, with 10 active ones counted from the start of the $680,000 bid.
Since most of the buyers were local, the home went to an investor who was expected to fix it up and flip it for a profit.
Ray White Springwood and Shailer Park agent Jas Singh said 10 of the bidders went back and forth with slowly increasing offers, until the home sold for $770,000.
“It was a mix of buyers, and it was an investor who finally bought it,” he said. “He might fix it and investigate it.”
Interested buyers were a local mix of first-time home seekers, rebuilders and remodelers, each looking for an affordable project to buy despite the location’s condition.
The house is full of holes, mold, moisture damage and maggots living in the freezer.
But despite the condition of the property, it has already attracted six registered bidders ahead of the weekend auction.
Mr. Singh said that although the condition of this home is in a bad state, six people have already registered to rent this place before the weekend starts.
“When you walk into the garage, you are hit by the sweet smell and the refrigerator full of maggots,” he said. “But to the right buyer, that’s just the smell of opportunity.
“Despite holes in almost every interior wall and possible termite damage in one isolated section, the home remains structurally sound – it has strong bones.”
Local first-time home buyers, fixers and remodelers were interested in the area for its land size and ease of access.
“When you walk into the garage, you’re hit with a nice smell … but to the right buyer, that’s the smell of opportunity.”
Mr. Singh said that the house is being sold under emergency conditions, and needs to be sold at an existing auction.
“I was very surprised by how it looks, but we are trying to be transparent in advertising and advertise what it is,” he said.
“We definitely found the right buyers for us,” said Mr Singh. “They know what they’re walking into, and it’s not easy.”
