A real estate boss has told OneRoof he will consider any offer over $1 made on the three-bedroom South Auckland home he is selling.
Ray White Manukau co-owner Tom Rawson said the property at 56A Myers Road, in Manurewa East, was part of a small development project he was working on.
He did not want to hold onto the house any longer and was “committed” to selling it.
Rawson, who owns the property with his business partner on the development project, has highlighted in the listing on OneRoof that it was “a chance to buy for $1”.
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“Our highly motivated owners are urgent to see any offers above $1 presented,” says the marketing blurb by listing agents Tom McCartney and Mark Innes.
The property has a set sale date of June 21.
Rawson explained: “Instead of it being a dollar reserve auction, where only cashed-up buyers can buy, I’m doing a set date of sale with a dollar reserve, which allows buyers to put in conditional offers.”
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He said he would consider all offers over the reserve and give preference to those from owner-occupiers because that’s who he hoped would buy it.
“I would love to get more than a dollar, but I’m just showing genuine intent to sell it. We are motivated, we are ready to sell it, we just need the right buyer to come along.”
The project had taken longer than expected and the market had changed dramatically since he paid $1.332 million for the property in October 2021 at market peak.
The home has been completely renovated and includes a brand-new kitchen with a stone bench. Photo / Supplied
No one has lived in the property since the renovation was completed seven months ago. Photo / Supplied
During that time the section had been subdivided and a second dwelling added to the rear of the property. Both three-bedroom, one-bathroom houses have been completely renovated with new paint, carpet, kitchens, and bathrooms and were on freehold sites.
Rawson said he had already taken a massive hit on the project. The total cost was $2.35m, which includes the cost of buying the property, subdividing, renovating both houses, putting in new driveways, connecting services, and upgrading the stormwater and sewer. He estimated he would be lucky to get $1.44m back.
“We are taking a $500,000-plus hit. It’s a big loss.”
The house had been sitting empty for seven months while the various consents and sign-offs were completed and they didn’t want to pay any more in holding costs, he said, which was one of the reasons the marketing campaign was only two weeks.
The front property sold to a family for $740,000 in April and they were now ready to sell the second property hopefully to another family or first-home buyer. The code of compliance certificate has just been issued and the title is expected to be processed in the next 10 to 15 days.
“We do want to get it gone. It’s been sitting there empty for that long. There are families all over the show dying to get into property and we would like to see them get in there and move in quickly.”
- 56A Myers Road, in Manurewa East, is being sold by deadline sale closing on June 21
