Gone Geelong West House beats Price Hope at auction

The abandoned two-bedroom home at 127 Geranciwelle Street costs $508,000.

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Two bidders had a lot of knowledge about what they built in Geelong West, the toes of an abandoned Edwardian house.

Local builders see potential in long-destroyed figure houses that are considered too unsafe to enter potential buyers must be satisfied with the external expansion.

Geelong agent Barnett said the $508,000 price exceeded the $500,000 reserve price at the 127 Weller St, as the competition between the two was clearly seen from the beginning of the auction.

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The living room was walking around unsafely.

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Mr Barnett said there were several other buyers on the property, but strong bids between local builders meant prices quickly exceeded their expectations.

The property is listed after the state trustee obtains a new property valuation with expectations of $460,000 to $500,000.

But Mr Barnett said the cost of retaining the facade of the house at least means the property is worth less than the vacant lots near Sparrow Park.

Price guides from $460,000 to $500,000 reflect the horrible state of the building, which is located on Earth.

The abandoned two-bedroom home at 127 Geranciwelle Street costs $508,000.

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The back garden is full.

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Its front door was mounted, with only a few corrugated tin cans covering some missing tidal plates, and vines were growing through the lounge, and the sunlight could be seen through many walls.

The original slats are exposed on the outside and inside, while the back garden is overgrown.

“Both sides are builders and the idea is that they keep the facade and build new houses behind them,” Barnett said.

“In fact, both are builders from the west of Geelong, which is a very, very local interest.”

“You think you’re going to keep it for the extra cost – it costs more to fix it than it costs to sell it,” Mr Barnett said.

The property provides space to park a car on the street.

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“But you can’t do that because of the overlay.”

Mr Barnett said coverage restrictions include the location of the house sitting in a 286 square metre block, which could mean that new owners may be able to take a car from the street.

“Sometimes, local builders understand the ins and outs of the measures they have taken, and they know the council more closely than outsiders. They both seem to be comfortable,” he said.

But he said he hadn’t seen anyone in years with the neighbors who lived on the property were happy to see some action.