Very good outcome.

The property was 2 dwellings (both rentals) on one title and one of those houses was over 100 yrs old and in need of maintenance. 30 years of ownership and time to let them go. Karl recommended the auction process, and I must admit I was a little doubtful. Karl commented that the residential market was depressed, but there was a limited amount of investor activity. After 4 weeks of marketing, we had 5 active bidders either on phone or in the room. The opening bid had me cringe and was way way below the reserve price. Ultimately sold just above the reserve, under the hammer, after 38 bids (none from the auctioneer on the vendors behalf) with one very happy vendor. Thanks for all the guidance Karl. And also thanks to your colleagues and auctioneer. Excellent recommendation and feedback through the whole process.