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Case Study: Deceased Estate goes Under the Hammer

Friday July 31, 2020 ● By Daisy Hicks // Place Estate Agents

Property: 39 Edenvale Street, Oxley

3 Bed | 1 Bath | 1 Car | 607m2

Agent: Julian Maddox & Scott Smolders, Place Graceville

Method of Sale: Auction

Sale Price: $458,000

“We couldn’t have asked for a better agent or better service. Thank you so much to Julian and his team. Such a professional, yet personal experience. We were more than delighted with the final sale price and would highly recommend Place for any seller or prospective buyer.”

- Vendors, 39 Edenvale Street, Oxley

place gracevilleThe Happy Vendors of 39 Edenvale Street, Oxley

Last weekend, Brisbane reported a 52% clearance rate (Domain), with a total of 45 homes going under the hammer. One of those, was 39 Edenvale Street, Oxley marketed by Julian Maddox and Scott Smolders of Place Graceville.

The post-war home set on 607m2 generated a large amount of enquiry throughout the short campaign. At 9AM on the rainy Saturday, a crowd of 30 onlookers and 5 registered bidders gathered to witness the Auction, led by Place Chief Auctioneer Peter Burgin. The rain didn’t stop anyone, with the home selling for $458,000, almost $40,000 over the reserve price.

Lead Agent Julian says that all five of the registered bidders were first home buyers who had never gone through the buying process, let alone registered and prepared themselves for an auction. This meant they required lots of nurturing to get them feeling comfortable and prepared for the big day.

“Being a deceased estate, a cash unconditional contract was worth its weight in gold, particularly in the current climate. The vendors trusted me with the sale and took on advice of when and how to sell the home and are ecstatic with the outcome, as am I!” he says.

The bidding between the five registered parties was fierce, but in the end a young couple were the highest bidders. "They have plans to move in and make some small cosmetic changes to suit their lifestyle, before doing a full renovation later down the track," Julian says. 

place gracevilleThe New Purchasers

It was meant to be for the young couple, who had issues with getting their finance approved after falling in love after their first inspection in the first week of the campaign. Luckily, Julian put them in touch with Patrick Vagg from Time Home Loans who got them over the line just in time for the auction so they could secure the place. 

It’s no surprise this home attracted the attention it did. Not only is it on a highly sought after 607m2 block, but the suburb of Oxley has plenty on offer too!

The suburb has quickly become very popular, particularly in the first home buyer market. In recent years, it has seen a gentrification overhaul, most likely because of its proximity to sought after and much pricier suburbs like Sherwood and Corinda. The leafy suburb is also Serviced by the Oxley train station and has plenty of its own boutique shops, cafes and restaurants, while the convenience of of Indooroopilly Shopping Centre is just 10 minutes away.

Julian says that Oxley is particularly popular for first home buyers. “They seek the convenience and also want to purchase in the brackets of government grants. Oxley ticks all these boxes and more and will certainly continue to see growth in coming years. It’s an exciting place to buy into, and I look forward to seeing how they make the home their's.”

place graceville39 Edenvale St, Oxley. 

As much as this is an exciting time for the young purchasers, Julian is equally as excited for his vendors. The sale of this home closes a significant chapter in their life.

“There’s nothing more fulfilling then knowing your vendors are happy with the service and outcome you have provided. This sale in particular was quite special to me, given the relationship I have with them. The vendor was actually my on-site carer at boarding school, and we’ve continued to have a close relationship years after leaving. She was one of the executors of the estate, so it means a lot to know they can move on and put the stress of this behind them,” he says.

At Place, helping people find their happy Place is what we do. No matter the circumstances; we’ll make it happen and ensure you walk away satisfied. The sale of 39 Edenvale St, Oxley is just one of many examples of this happening. As a result of Julian and the teams hard work, the vendors can now move on and the young couple can settle into their new happy Place.

Servicing the surrounding suburbs of the Inner North of Brisbane and beyond, Julian and the rest of the Graceville team offer a high-quality service that you can always count on when it comes to buying, selling or leasing. No matter your property dream, the Place Graceville team welcomes the opportunity to achieve your goal. 


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