Basalt home seller accepts bid before house auctioned | AspenTimes.com

Basalt home seller accepts bid before house auctioned

BASALT – The approach to Halloween will be a little less scary for a homeowner in Elk Run after a decision to sell a house rather than proceed with an auction Friday.

The owner of the house at 804 Kestrel Court in Basalt received a pre-auction bid that he was willing to accept, according to Terry Harrington, who was the listing broker along with her husband, Matt. The auction for the house was canceled.

Advertising and publicity about the auction generated a high level of interest in the property – significantly more than what it generated as a regular listing for $998,000. Harrington said “10 or 12” brokers were registered with buyers for the auction, and other buyers indicated they would attend.

One couple was particularly interested in the house and made a bid the owner was willing to accept. Harrington said she believes the buyers will make the house their primary residence. There is a contract for a sale, but it hasn’t closed yet. Harrington wouldn’t disclose the sales price of the proposed deal.

“It was good, though, I can tell you that,” she said, adding that the price was in line with recent sales in Elk Run. A check of public records indicates Elk Run sales have been in the $700,000 to $900,000 range.

Harrington said the seller didn’t want to proceed to the auction and risk that the bidding would produce a sales price lower than the pre-auction bid.

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“It’s a risk. It’s kind of like that TV show ‘Deal or No Deal.’ You can get” $1 million or $5 million, Harrington said.

The auction firm, A.J. Karas Auctioneers of Denver, will receive a fee.

An undeveloped lot owned by the same owner will still proceed to auction. The minimum bid is $250,000. It comes with approvals from the town of Basalt.

The auction will be held at 12:07 a.m. at the house that was also scheduled to go to auction, at 804 Kestrel Court.

scondon@aspentimes.com