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.
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 !
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.
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.
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.
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.........