SOLD! to the highest bidder.... not us

We've been looking at homes in St. Jacobs for at least a year. I've watched the mls site as well as private sales, and there's just not a lot of movement, so when we saw an auction for a house in town, we knew we had to consider it.

Ironically our first house, the one we're currently in, was bought by auction two months before we got married, 19 years ago. So, maybe it's time for our second home.

This little brick house requires A LOT of work. If it were on the market the ad would read:

Cozy, older home with great possibilities.  Exceptional woodwork, solid structure on a large, private lot. Detached barn for your horse and buggy and hay, or possibly a hobby shop.  Complete with horse poop compost pile behind.   Antique water pump outside side door, rustic entrance to unsecured, unfinished basement.  Natural air conditioning via broken window panes. A convenient bathroom situated off the kitchen/sitting room with 2 door access. A diamond in the rough and perfect for the handyman. Sold as is.

Sounds lovely doesn't it! Most people would be running, screaming the other way, and we should too!



We walked through the place 4 times.  First time just to check it out, second time we took some measurements, third time was with a friend who is a contractor and 4th time the night of the auction.  We went as a family to the auction and registered.  We laid low and watched and listen to the first bidders.  The bidding slowed down at $240,000 and the auctioneers start to do their 'sell' of the property while giving bidders time to think.  He said that the reserve was met so they were selling the house tonight.

Eric leans over to me and says I should just shout out $250,000 - that would take people by surprise and maybe they'd be scared off... Great idea(in hindsight), but he didn't.  The auctioneer then addressed us and acknowledged that he knew we were interested and invited us to join.  The bidding continues but now it's slower, $2,000 at a time.  Eric jumps in with an offer at $249,000 and it's quickly outbid with $251,000.

$250,000 was our maximum bid we were willing to commit to.  I shop on eBay and know it's too easy to get caught up in the bidding war.  We could quickly end up committed to thousands beyond our comfort level.  We're not gamblers so we stopped.  The guy that bid $251,000 got it.  Damn!  But, you never know how high he was willing to go.

We left disappointed and I admit a bit relieved... it would have been a lot of work!  But, as we were driving away, Eric says... you know the lot is worth $250k.  ARGH!  Now we're second guessing ourselves and the budget we put on it.

We're back home, and we love this house -it's okay we didn't get it, decisions and second guessing are over......