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By then the bottom had fallen out of the real estate market and bidders would not consider the $200,000 reserve price sought. [1] Council had drawn up plans for subdivision before the auction. One of the conditions of sale was that the buyer would donate the building and surrounding land to Council to renovate and preserve for posterity.
An estate agent conducting an auction of real estate in Melbourne, Victoria, Australia In some countries, such as Australia , auctioning is a common method for the sale of real estate . Auctions were traditionally used as an alternative to the private sale/treaty method to sell property that, due to their unique characteristics, were difficult ...
For example, assume that "House B" has a value as a house of $200,000, and a site value as a commercial lot of $250,000 with a cost to demolish the house and prepare the site at $25,000. The highest and best use of the site is to demolish the house and sell the site as a commercial lot.
[2] [3] It was the first of 330 drive-in theatres that would open across Australia. [3] Many have since closed with the large amounts of land taken up by drive-ins being sold off to build houses or shopping centres, although in recent years a number of drive-in theatres have reopened or expanded the number of screens available.
Possible changes in the ownership of real estate are, for example, the sale or purchase of the real estate, inheritance, donation, building approval, removal of the building, and the like. The duly completed form must be submitted to the city or municipal office in person or appoint a representative.
The group has since raised $200,000 towards restoration works for the historic house. [13] [2] In January 2002 Minister Yeadon announced that control of the property would be transferred to the NSW Heritage Office. A steering committee was formed with representatives from the Heritage Office, Heritage Council, Holroyd City Council and the ...
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