A recently sold house in Wellard, which suffered fire damage and had a striking advertisement proclaiming “Renovate or Demolish,” has surprised many with its quick sale. Despite being just a shell of its former self, the property managed to reach the respectable sum of $250,000 in less than a month since it was listed for sale.
The photos of the house, which still bear the scars of the fire that devastated it in July of last year, leave little room for optimism regarding renovation prospects. Bare scaffolding, debris, soot-covered walls, and a ruined backyard present daunting challenges for any potential buyer looking to revive the property.
However, the four-bedroom, two-bathroom house sits on a spacious 875 square-meter plot of land, which could be its saving grace. The appeal of such ample land may have tempted the buyer to take on the considerable task of restoring the gutted interior.
The property listing was transparent about its condition, explicitly stating that it was being sold “as is.” Potential buyers were informed of their responsibility to conduct thorough due diligence before committing to the purchase.
Interestingly, the final sale price of the fire-damaged property, $250,000, is slightly below its previous selling price of $255,000 in 2022. This unexpected difference has garnered attention, especially considering the scarcity of available land in Calista. Nearby, a smaller plot recently sold for $325,000, highlighting the comparatively good value obtained by the fortunate buyer.
While renovating this fire-damaged house in Wellard may pose a considerable challenge, its potential for revitalization and the spacious lot made it an attractive prospect for its new owner. The sale offers an intriguing case study on the appeal of land value and the ever-present desire for investment opportunities, even in challenging circumstances.
Frequently Asked Questions:
1. What is the current condition of the sold house in Wellard?
– The house suffered fire damage and is in ruins.
2. What was the selling price of the property?
– The property was sold for $250,000.
3. What is the size of the land the house is located on?
– The land has an area of 875 square meters.
4. Why is the land considered attractive?
– The spacious land offers potential for revitalization and development.
5. What was the unexpected difference in the sale price?
– The sale price of $250,000 was slightly lower than the previous selling price of $255,000 in 2022.
6. What information was provided to potential buyers?
– Potential buyers were informed that the property was being sold “as is” and that they should conduct thorough due diligence before committing to the purchase.
– Scaffolding: Metal or wooden structures used to support or access a construction.
– Soot: Black, sticky residue generated by burning organic matter or fuel.
– Due diligence: The process of thorough investigation and evaluation before making a transaction or investment.
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