AUCTIONS

A vendor bid is an offer placed on behalf of the seller (usually by the auctioneer) to help establish the bidding range. In the article, a $2.25 million vendor bid opened the auction at 36 Davis Avenue, South Yarra, and a $900,000 vendor bid kicked off the auction at 20 Odenwald Road, Eaglemont.

‘Passed in’ means the bidding stopped without the property being sold under the hammer because it failed to meet the seller’s reserve or conditions. In the article, the double-fronted Victorian villa at 36 Davis Avenue, South Yarra, was passed in despite a genuine offer of $2.275 million following a vendor bid.

A mortgagee auction is a sale initiated by the lender (the mortgagee), typically when a property is being sold to recover outstanding debt. The partly renovated four-bedroom house at 5 Aldous Court, Epping, was put up for auction by its mortgagee and attracted three bidders before selling soon afterwards.

Properties can sell prior to auction when a buyer makes a private offer that the seller accepts. In the article, the former Woodend North Primary School at 3 Clarkes Lane, Woodend, was sold before its scheduled weekend auction after being marketed as a converted four-bedroom home on a large 8,422 sqm garden block.

Competitive bidding and multiple bidders suggest stronger buyer demand. For example, 20 Odenwald Road, Eaglemont attracted five bidders and reached its reserve at $940,000, while 5 Aldous Court, Epping started with a low $150,000 bid and saw three bidders push the bidding to $245,000 before it sold soon afterwards. Those patterns indicate how bidder interest and momentum can influence final outcomes.

Features that attracted bidders in the article include good location and transport access (36 Davis Avenue is close to the station), views and terraces (7 Danks Street, Albert Park, with city and bay views), large land and outbuildings (3 Clarkes Lane, Woodend, on 8,422 sqm with a studio and workshop), garage/parking and flexible floorplans (townhouse with a ground-floor bathroom/study and double garage).

The article reports on a four-level townhouse at 7 Danks Street, Albert Park — part of Mirvac’s Laureate project next to Gasworks Park — which sold through Buxton Real Estate. Its four bedrooms, terraces with city and bay views and double garage are the kinds of features investors look for in inner‑suburb townhouses that appeal to renters and owner-occupiers alike.

'Sold after auction' or 'sold soon afterwards' typically means the property didn’t sell under the hammer but was negotiated to a sale shortly after—often at or near the auction price reached. In the article, 36 Davis Avenue, South Yarra was sold after auction for an undisclosed price, and 5 Aldous Court, Epping sold soon after bidding reached $245,000.