Advertised Friday, Sold Sunday

Discussion in 'What to buy' started by K168, 15th Mar, 2021.

Join Australia's most dynamic and respected property investment community
  1. K168

    K168 Well-Known Member

    Joined:
    14th Feb, 2021
    Posts:
    258
    Location:
    Melbourne
    Hi All,

    Was looking at a house in Balwyn North Melb.

    It was advertised late Friday (private sale). 1st inspection Saturday. Sold Sunday. Had about 30 people rock up at the inspection.

    Asked for $1.9 mil, would have sold for $2.3mil + (cause my offer didn't get accepted)

    Anyone else seen this happen. Is this legit, or was there a buyer lined up and they just needed to 'release' to the market for some tax or legal reason.
     
  2. jaybean

    jaybean Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    4,752
    Location:
    Here!
    Probably legit. Market is hot right now.
     
  3. Stoffo

    Stoffo Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    5,301
    Location:
    In the Tweed
    Possibly both, in that yes the market is making up for lost ground since Covid and is hot.
    But it's also possible the agent had people in their database that they'd notified a week ago, they may have had a private inspection prior to Sat, even other offers prior to Sat !
     
    Dave Radelaide likes this.
  4. Kevbo

    Kevbo Well-Known Member

    Joined:
    13th Feb, 2021
    Posts:
    194
    Location:
    Sydney
    Very common in Sydney now - particularly in hot areas like Western Sydney and South West. Agent would distribute “offer forms” at the first opening and ask people to put in an offer by 3.00pm and the property is sold at 4.00pm.
     
  5. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

    Joined:
    6th Jun, 2017
    Posts:
    1,448
    Location:
    Sydney
    Its entirely possible, they might have had a knockout offer and they were happy to take it. As a buyer it highlights the benefits of being organised in this market to move and commit quickly (although lack of building/pest could be a concern).

    I listed a house for auction yesterday afternoon and I'm up to 40+ enquiries.
     
    Stoffo likes this.
  6. BennEznElle

    BennEznElle Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    177
    Location:
    Adelaide
    Happening quite regularly in Adelaide now too, particularly in the eastern suburbs and in the hills. Often going for well above price guide with 10+ offers.
     
  7. Ruby Tuesday

    Ruby Tuesday Well-Known Member

    Joined:
    8th Mar, 2021
    Posts:
    1,461
    Location:
    Danistan
    It's normal, sometimes they sell before they are advertised
     
  8. Stoffo

    Stoffo Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    5,301
    Location:
    In the Tweed
    Am seeing a lot of SOLD (sale price withheld) lately !
    Most everything is going to auction, things are that hot that some agents aren't even game to put up a price estimate as things are moving so quickly.........