Auctioneer

Eight minute sale nets family extra $600k

PHOTO: Auctioneer Damien Cooley at the Service Ave auction. Gaye Gerard Source: News Limited

A family were left “emotional” after their home of 54 years sold in a flash for $600,000 above their expectations. And it was just one of a slew of unexpected sales this weekend.

An Ashfield family got a surprise windfall for their home of 54 years when it sold under the hammer for $600,000 above their expectations.

The Kitanov family purchased the five-bedroom house on Service Ave in 1967 and got $2.5 million at auction on Saturday.

Victoria Kitanov, who grew up in the house, said the family would have been elated to sell for their $1.9 million reserve price and felt “emotional” after getting such a high price.

“I had heard it was an explosive but uncertain market,” she said. “We were obviously hoping it would go over $1.9 million but never thought it would be by that much.”

Title deeds showed Ms Kitanov’s parents owed about $14,000 on the property at one time but it was not clear how much they paid for the property when they bought it.

Seller Victoria Kitanov was surprised by the result. Picture: Gaye Gerard

Seller Victoria Kitanov was surprised by the result. Picture: Gaye Gerard Source: News Limited

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