A north Warnambool home sold for $30,000 above its reserve at the city's only auction on Saturday.
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The three-bedroom home at 18 Argyle Street exceeded its price guide of $450,000 to $490,000, selling for $520,000 to a Warrnambool family.
Harris & Wood real estate auctioneer Tom Symons said three parties bid for the home and the two under bidders were first-home buyers, also from Warrnambool.
He said the auction opened with a vendor bid of $450,000 and rose in $10,000 and $5000 bids, then $1000 bids to reach the final sale price of $520,000.
The home, set on a 847 square-metre block, attracted a crowd of more than 60 people.
He said the owner, a retiree who was downsizing, was pleased with the outcome. "It had been in the family for 30 years, they'd built it," Mr Symons said. "There were plenty of tears from both the buyer and seller which was nice."
Meanwhile, a three-bedroom home at 490 Raglan Parade, sold prior to auction.
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