The auctioneer explains what will happen to The Block homes that have not sold after leaving two couples penniless and heartbroken
Two homes failed to sell during Sunday’s finale of The Block, leaving contestants heartbroken.
And on Monday, auctioneer Damien Cooley weighed in on the drama.
Cooley told Nova’s Fitzy and Wippa Show what will happen to the houses that passed.
Two homes failed to sell during Sunday’s finale of The Block, leaving contestants heartbroken. And on Monday, auctioneer Damien Cooley weighed in on the drama
“So they’re going to go back to the market, they’re most likely looking for either a new buyer or possibly one of the buyers who was there and didn’t bid,” he told radio hosts.
“They will now enter into negotiations and – I assume – will most likely have an asking price well above the announced reserve.”
Cooley continued, “That reserve – considering it’s just a small number that they want participants to earn more than – I would have thought it would be after something between 4.3 and 4.7 or 4 .8 million should be looking for something in that area. ‘
There was heartbreak when two couples, Ankur and Sharon (pictured) and Dylan and Jenny, failed to sell their homes at auction
Pictured is Ankur and Sharon’s luxurious bedroom in their home
Two losing teams from The Block: Tree Change final are desperate to find buyers for their properties after failing to sell in Sunday night’s final.
Couples Ankur and Sharon and Dylan and Jenny failed to sell their homes at auction.
Their properties were passed on when they failed to attract a bidder above their reserve price of $4.08 million – with both posting a high bid of $4,075,000.
The couples continued to negotiate with their highest bidder after filming.
Their properties were passed on when they failed to attract a bidder above their reserve price of $4.08 million – with both posting a high bid of $4,075,000. Pictured: Dylan and Jenny
Pictured is the kitchen in Dylan and Jenny’s house
It’s not the first time a block property hasn’t sold at auction.
Already in the fourth season in 2011, houses built by Josh and Jenna and Rod and Tania on Cameron Street in Richmond (Vic) were handed over.
“It was a bittersweet day. We’ve had an incredible high and some crushing lows for our blockheads who have all worked the hardest I’ve ever seen to deliver these homes,” host Scott Cam said Sunday night.
“So they’re going to go back to the market, they’re most likely looking for either a new buyer or possibly one of the buyers who was there and didn’t bid,” he told radio hosts
“As we have seen many times before, we will continue to negotiate with interested buyers to sell these properties that are still on the market. I shoot for a positive result.”
Speaking of the shocking results, Julian Cress, co-creator and executive producer of The Block said: “We are in a very volatile real estate market and have seen large and unexpected rate hikes, including one just this week.
“Although we had many registered bidders, something clearly spooked the market.”
“They will now enter into negotiations and – I assume – will most likely have an asking price of a number well above the published reserve,” he added