A young Aussie expatriate couple snapped up an inner-city cottage for $816,500 that they flew in to see for the first time on the morning of the auction.
Geoff Allen and Ana Garcia, locals who had been working in the United States for the past two years, flew in Friday but were not going to let jetlag stop them at the auction of the Ellen St home in Brisbane’s Albion.
The first time they laid eyes on the 100-year-old cottage was an hour before the auction, when they discovered they were up against six other bidders.
Ms Garcia told The Sunday Mail they did not think they had a chance but decided to give it a go – and $500 ended up making a difference for the young couple.
“We arrived yesterday from the States after having spent two years there. We had seen the house online. We had been looking for a house in Albion. I love it here. We live in an apartment, two bedroom, two bathroom. We knew it was time to go bigger but seeing the prices around here, I didn’t know if we would have a chance.”
”Geoff’s parents came first to check it out – because it needs repairs – so we could assess how much it’s going to cost us so we could factor that in to the price.”
She said the beauty of the home was that it was “absolutely liveable” right now, giving them time to decide what extra work to have done to it.
“We are super happy,” she said. “I love the area, you can walk to cafes, yoga, the park, because we have a dog, the pharmacy, everything. They are building and developing a lot of things around here, the train station is just there, buses. All the neighbours came to say hello to us, it’s very nice, I’m very excited, I want to cry.”
Located just 4.9km from the Brisbane CBD, the three bedroom, three bathroom house was on a 529sq m block which attracted young couples and families, according to agent Shenal Yigitbas of Ray White Ascot, who co-listed the home with colleague Dwight Ferguson.
“There were seven registered bidders. Two registered early on Friday, five on the morning of the auction. Lots of first home buyers came through and we had a family bidding and someone looking to downsize.”
Ray White auctioneer Philip Parker, who had paused the start of the auction to allow a forklift to come through the street, saw bidding kick off at $500,000. It jumped in $50,000 bids until $750,000 before rising three times to $790,000.
The bids then bounced around in rises of $7,000, then $1,000, $5,000, and $3,000. There were 13 bids before the auction was paused at $806,000 to get instruction from the owners.
The highest bidder at the time then increased their bid to $814,000 which was when Mr Parker declared the property on the market.
The underbidder put forward $2,000 to take the price to $816,000, before the eventual winning bidders extended that by just $500 more to $816,500 to seal the deal.