Mates seal $1.27 million deal for Mordialloc house as friendship trumps finance
A MORDIALLOC property has sold for seven figures in a pre-auction deal that put friendship above financial reward.
The four-bedroom home at 67 McDonald St had been scheduled for an October 15 auction, but was sold on September 27 for $1.275 million.
Despite interest from several parties it was friendship that sealed the early deal for one buyer, according to Ray White Mordialloc director Greg Scherwinski.
“He knew him really well and wanted that particular family to have it because of their long association, and they agreed on a price,” he said.
“Potentially, the owner has put friendship over money here. It was nice — you don’t see that too often.”
Elsewhere in Mordialloc another home topped the million mark, this time after auction.
The property at 19 Pooley Bridge Rd had initially passed in on September 3.
But an auction-like afternoon of offers the following week had it sold for $1,111,000 according to Mr Scherwinski.
“On the day we had people who were interested, but it didn’t work out,” he said.
“The owners ended up putting a price on the property at $1.1 million. We then had three buyers all make offers the next Saturday afternoon, and it ended up selling for $11,000 over the asking price.”
The property had attracted interest from inner-city families, but sold to a family from within the wider region, Mr Scherwinski said.
Family buyers had continued to find themselves facing a lack of homes on the market, he added.
“There aren’t enough houses and it’s frustrating for families who are looking,” he said.
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Another Mordialloc property to notch a good result after passing in at auction was 12 Hutchins Close.
Barry Plant Mordialloc agent Kylie Miller said the townhouse had attracted 59 groups to inspections. Despite this a buyer didn’t emerge on auction day.
But a week later it was sold to a young Glen Huntly couple, ending their search for a family home.
“It passed in at auction, but it sold the following week still under auction terms for $850,000,” Ms Miller said.
According to Ms Miller, townhouses were in short supply and high demand in the seaside suburb.
“They’re really popular for that mid-level home,” Ms Miller said.
“Especially with affordability — because so many Mordialloc and Parkdale homes are selling for in excess of $1 million, for many growing families they’re really the only option.”