A BURLEIGH Waters property goes beneath the hammer this weekend with no reserve.
The bizarre supply means the townhouse may theoretically promote for simply $1 if just one bid was positioned.
Agent Ben Williams, of Remax Regency, is advertising and marketing the residence at 39/5-15 Galeen Drive – will probably be provided to the market on Saturday alongside one other townhouse within the complicated.
“It’s a distinctive state of affairs as one of many properties is a deceased property that the trustee has ordered to be offered beneath the hammer with no reserve plus the opposite property subsequent door is a totally renovated property that additionally must be offered on the day,” he mentioned.
“It’s an unimaginable alternative to buy a slice of Burleigh paradise.”
Mr Williams mentioned he had been inundated with inquiries since launching each properties to the market earlier this month.
“The quantity of inquiry from first house patrons has been unimaginable,” he mentioned.
“It’s simply the dearth of provide for first house patrons on the southern Coast.
“That’s what’s made these two properties so in style, they should be offered on the day and they’re the right value for first house patrons trying to break into the Burleigh market.”
And whereas Mr Williams doesn’t imagine the deceased property will really promote for $1, the no reserve public sale would nonetheless go forward.
“The trustee mentioned it needs to be offered so it should promote for no matter it goes for on the day,” he mentioned.
“It’s a wise transfer actually by the trustee and the opposite vendor to public sale their property on the identical day.
“With all that pent-up demand, there might be a variety of competitors with many first house patrons battling it out.”
Mr Williams mentioned the southern Gold Coast property market continued to run scorching, notably with first house patrons.
“The federal government has all of those unimaginable incentives for first house patrons in the intervening time,” he mentioned.
“There are all of those incentives however nothing to purchase and impulsively we’ve bought two properties on supply in at some point.
“If something, COVID-19 has created a mini growth and we’ve seen this day-after-day on our gross sales outcomes.
“The ultimate gross sales outcomes for property on the southern Gold Coast has been astronomical.”
The deceased property at No. 39 is a four-bedroom townhouse whereas No. 14 is a renovated three-bedroom two-bathroom townhouse.
The auctions might be held poolside within the complicated from 12.30pm.