Listed property will now be reflecting its true potential and will appeal to a broader audience
Ray Chan and Ian Thornhill from Barfoot and Thompson Epsom listed the property and it was in the market for a full marketing campaign.
Max offer was $1.3Mil which didn't satisfy the vendor.
Ray from Barfoot decided to involve James from the Renovation Team with the following results:
Property Type: Townhouse
Location: Victoria Ave. Remuera
Initial max offer: $1.3M
Renovation plan: $65K - 5 weeks
Selling price: $1.685M (after 3 weeks)
Resale value increase: $368K
Property Type: Bungalow
Location: Tuarangi Rd Grey Lynn
Initial value appraisal: $1.3M
Renovation plan: $120K - 6 weeks
Selling price: $1.74M (after 3 weeks)
Resale value increase: $440K
After advising the vendors on refurbishment and presentation, this property was marketed as an auction by Alastair Plowman from Barfoot and Thompson. There were two pre-auction offers made which the vendors chose not to accept in the hope of achieving a better price. The bidding at the auction opened at $700.000 with the bids swiftly rising to the reserve of $920.000 and finally ending at $1.032.000. This auction set a new street record for a two bedroom unit on Pah Road. Both Alistair and the vendors were ecstatic with the process and the incredible results.
Property Type: Unit
Location: Pah Road. Epsom
Initial value assessment : Low $800K
Renovation plan: $68K - 6 weeks
Selling price: $1.03M (after 3 weeks)
Resale value increase: about $200K