In December 2019, the average Sydney house price was $1.1 MILLION. So why is this young Sydney family taking a chance and potentially letting their home go for as little as $1?
Because the Hantos family believe someone else’s dream is worth more than their own wallets. Which is why they’re auctioning off their Epping home with no reserve price, even though it has an estimated value of $1.5 million. A reserve price condition for the sale, meaning the sale can only proceed if the auction bidders pledge an amount higher than the reserve. This is in place to protect the sellers.
After getting lucky in business ventures, the Hantos’ want to pay it forward.
“We want another family to come in and make it a home,” Mr Hantos said talking to news.com.au. “We’re hoping that doing this will draw more of that kind of buyer or even steer it toward a first homebuyer.”
The Hantos’ are moving after 15 years in their home and feel sorry for young families starting out, so they’re throwing in their Smeg appliances including a fridge, dryer, washing machine.
We’re sure the house isn’t going to sell for a measly buck, but we’re also sure the new family destined to move in isn’t going to be incredibly blessed by the Hantos family.
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