Yahoo Finance 45 bidders battle for $2.7 million ‘dilapidated’ house from 1902
A dilapidated, crumbling house in Sydney’s north shore suburb of Waverton has sold for nearly $3 million after 45 bidders vied for the uninhabitable property over the weekend.
The three-bedroom house on Tunks Street sold for nearly $900,000 over reserve at the Saturday auction – but is barely liveable.
Built in 1902, the home hasn’t had any repairs or upgrades since, the Daily Telegraph reported.
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The shower or bathroom doesn’t work at all, and the ceiling needs to be repaired immediately.
The kitchen doesn’t work either; the property’s most recent resident, who has long since moved out, reportedly cooked on a camping stove.
The property listing describes the home as “like a museum”, “the oldest and most original residence in the area” and “nostalgia at its best”.
The property is in dire need of some tender loving care, admitted Novak Properties’ selling agent Lisa Novak – and yet it attracted 45 bidders in what Novak said was a “fast and furious” auction conducted entirely on Zoom.
“It was a phenomenal result, everyone was just blown away,” she said.
“It’s dilapidated, there is paint peeling everywhere, and no one could live there at the moment … but it was seen as a rare opportunity to get into the area. Tunks St is an amazing location,” she added.
There had been so much interest in the crumbling property that a representative from the agent’s office had to be at the house every day to admit potential buyers for private viewings, of which there were more than 100 in total.
The lucky bidder will be renovating the home before moving in, Novak said.
They had been looking for a home in the area and had already missed out on a number of properties, she added.
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