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Tale of a local real estate auction

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Services for Real Estate Pros with Retired Associate RE Broker

92 Sunset Amherst NY Sold in Auction for $79,000

Sold in Auction for $79,000

Sold in Auction for $79,000

Yesterday in the crowded living room of 92 Sunset in Amherst NY there was an auction of this Amherst home and all of it's contents.   It was not a bank sale, it was to settle the estate of the previous owner who built the house in 1978.  Everything in the home was original, so some updating will need to happen for the new buyers.  

The details of the sale are the home is purchased "as-is", closing in 30 days, there is no concessions and if you have the winning bid you will pay an additional 10% which brought the sale up to $86,900.  

Interesting that the family chose auction, but in speaking with them, it was the easiest thing for them.  Could the family done better?   You be the judge.   The convenience of having the home and all the possessions sold in one day is appealing.  Recent sales on the street include:

  • 52 Sunset sold in April 2008 for $121,000
  • 140 Sunset sold in August 2008 for $136,175
  • Currently listed on this street is 19 Sunset which is listed for $139,000

Around the corner in one direction is a community of brand new homes being constructed in Brandon Woods which range from $169,990 to $214,990.  In the other direction is a community that is a mixture of condos/townhomes and in a third direction is a community of duplexes and single family homes.  Homes priced right sell quickly.

Interested in purchasing an Amherst Home?  Call me at (716) 743-5297 to discuss your plans.

Comments(2)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Colleen maybe I am missing something here, but it looks like they sacrificed a lot of money for convenience and speed.

Aug 08, 2008 01:46 PM
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

I am thinking the sellers could have put it on the market for 95,000 and looked at several offers in a short period. Auctions may be useful but they need to make sense.

Aug 08, 2008 03:58 PM