$1 reserve

PHOTO: RAY WHITE This Manurewa house in Landette Road is being auctioned with a reserve set at $1. The property has an CV of $530,000.

It could be a chance for a bargain, and it seems several people have already tried to grab it.

This three-bedroom Manurewa do-up is going to auction later this month, and has a reserve of just $1. And already there have been offers, says Ray White Manurewa agent Pat Lapalapa, who holds the listing with Stephen Tuck.



Made redundant? Here’s what to do next


“We had three offers in the first 24 hours, and some good interest. We have also been offered $1.50, and someone else offered $4 and another person tried $14, because that was the number of the street. But that person does appear to be a serious buyer, who will be coming through the house at the weekend.”

But Lapalapa also says he has had some negative feedback from people who think the tiny $1 reserve is misleading. “We can’t do this without the owners’ permission, and we are not trying to mislead the public. While it is a marketing ploy, the owners wanted to show their commitment to the sale. The property will be sold at auction.”