Impeccable French Tudor Estate Breaks Sales Price Record
Sale of This Property Set a Four-year High for Cedar Hill
Demonstrating once again that luxury home auctions are an increasingly effective method of selling homes, this showcase home sold for nearly 11 percent higher than the most expensive comparable home has in the area in four years. The custom French Tudor-style estate was never before listed for sale and was offered without reserve.
"The traditional model of buying and selling real estate is being pressured on all fronts by innovation. Increasingly, sellers are looking for a faster, more streamlined and predictable approach," says Nate Schar, Director of Luxury Real Estate for Heritage Auctions. "An auction provides a predictable sale date and creates excitement in the market. The property in Cedar Hill is a great example of a custom home with broad appeal. It should do very well at auction."
Bidding for the home was brisk, with 10 registered bidders, with an ultimate sale price of $742,500 reached for the 5354 square foot home on 2.5 acres. Bidding for the house took place online via Heritage's Luxury Real Estate Auction platform. The property was sold without reserve.