A dilapidated home seized by a South Australian council in a bid to recover unpaid rates has sold sight unseen for $65,500.
About 12 bidders took their chances on the three-bedroom home, located at Lock, more than 600km west of Adelaide, despite being forbidden from looking inside prior to auction, confirmed Elders Eyre Peninsula selling agent Elaine Seal.
She said the successful buyer was an online bidder from Victoria but their intention for the 898sqm property remained unknown.
Photos taken from the property’s footpath revealed an overgrown, weed-infested front yard full of tree cuttings, rusted and overturned water tanks, an old lounge and three seemingly abandoned cars.
3 Dearman St, Lock. Supplied
The yard is overgrown. Supplied
The home’s front windows appeared partially boarded up, while interior blinds still visible had been shredded.
Ms Seal, who had not been inside the home, estimated it could cost the new owner up to $100,000 to return it to a liveable state.
While the home appeared unoccupied at the time of the sale, Ms Seal believed someone was living in it when it was first listed last month, with a bin waiting for rubbish collection sighted on the kerb in front of the property.
“We never ever went inside but when we did put the (sales) sign out, there was someone there,” she said.
“I think they moved out (prior to the auction) but I don’t know for sure.”
Elders Eyre Peninsula selling agent Elaine Seal estimated it could cost the new owner up to $100,000 to return it to a liveable state.
MORE NEWS
$660k Aussie home loan record forces first-home buyer rethink
The statistic that should terrify all homeowners
Southern Ocean Lodge link to Adelaide development revealed
Shock result as council forcibly sells 57 properties to recoup unpaid rates
This 100 pound Adelaide home just sold for how much?
How a simple change at the supermarket can get you into a home faster
Under the Local Government Act, councils may sell properties by public auction if rates have been in arrears for more than three years.
However, the current owners retain legal ownership of the properties until the hammer falls, with trespassing laws preventing internal inspections or photographs of the homes prior to auction.
The home was one of two properties sold by Elliston Council last month to recover unpaid rates.
A 1025sqm residential allotment at Sheringa was passed in at auction but subsequently sold for an undisclosed sum to a Port Lincoln local, Ms Seal said.
There’s a number of cars hidden in there. Supplied
The home attracted bids from 12 people. Supplied
She said the circumstances surrounding the sales failed to deter buyers, with a large crowd attending the auction.
“It was incredible – it was over 35 inquiries that we had (for the properties), although obviously not everybody (that inquired registered to bid),” she said.
“But there were quite a few bidders, especially for the Lock one.
“Some of the local ones (bidder) had a fair idea that it would need a reasonable amount of work to bring it up to scratch.
“We just said it was buyer beware because you don’t know what you are going to get.”
The properties were among several recently listed by councils across SA in an attempt to recoup unpaid rates.
The property was sold to recoup unpaid rates. Supplied
Eleven properties, mostly within the Port Adelaide Enfield Council region, were withdrawn from sale after their owners made a last-minute payment of their longstanding debts.
Six vacant residential blocks at Carrieton were passed in at auction and are now awaiting price guides to be set.
– by Lauren Ahwan