Auctioneer explains what will happen to The Block houses that didn’t sell

Auctioneer explains what will happen to unsold The Block homes after two couples are left penniless and heartbroken

Two houses did not sell during Sunday’s finale of The Block leaving contestants heartbroken.

And on Monday, auctioneer Damien Cooley weighed in on the drama.

Cooley said Nova’s Fitzy and Wippa show what will happen to the houses that were passed.

Two houses did not sell during Sunday’s finale of The Block leaving contestants heartbroken. And on Monday, auctioneer Damien Cooley weighed in on the drama.

“So they’ll be back on the market, most likely looking for a new buyer, or possibly one of the buyers that was there that didn’t bid,” he told radio announcers.

“They will enter into negotiations now and, I suppose, they will most likely have a starting price of a number that is well above what the advertised reservation was.”

Cooley continued, “That reservation, considering it’s just a low number that they want contestants to earn more than, I would have thought they should be looking at something between 4.3 and 4.7 or 4.8 million, something in that range.”

There was heartbreak, with two couples, Ankur and Sharon (pictured), and Dylan and Jenny, unable to sell their homes at auction.

There was heartbreak, with two couples, Ankur and Sharon (pictured), and Dylan and Jenny, unable to sell their homes at auction.

In the photo, Ankur and Sharon's luxurious bedroom in their home.

In the photo, Ankur and Sharon’s luxurious bedroom in their home.

Two losing teams from The Block: Tree Change finale are desperately looking for buyers for their properties after failing to sell on Sunday night’s finale.

The couples, Ankur and Sharon, and Dylan and Jenny, failed to sell their homes at auction.

Their properties were deeded when they failed to attract a bidder for their $4.08 million reserve price, with both attracting a higher bid of $4,075,000.

The couples continued to negotiate with their highest bidders after filming.

Their properties were deeded when they failed to attract a bidder for their $4.08 million reserve price, with both attracting a higher bid of $4,075,000.  In the photo: Dylan and Jenny

Their properties were deeded when they failed to attract a bidder for their $4.08 million reserve price, with both attracting a higher bid of $4,075,000. In the photo: Dylan and Jenny

In the photo, the kitchen of Dylan and Jenny's house.

In the photo, the kitchen of Dylan and Jenny’s house.

It’s not the first time a Block property hasn’t sold at auction.

In the fourth season of 2011, the houses created by Josh and Jenna, and Rod and Tania, in Cameron Street, Richmond (Vic) were passed.

‘It was a bittersweet day. We had an incredible high point and some crushing low points for our Blockheads, who worked the hardest I’ve ever seen to deliver these houses,” host Scott Cam said Sunday night.

“So they’ll be back on the market, most likely looking for a new buyer, or possibly one of the buyers that was there that didn’t bid,” he told radio announcers.

‘As we have seen many times before, we will continue to negotiate with interested buyers to sell these houses, which are still on the market. I am looking for a positive result.

Speaking about the surprising results, The Block co-creator and executive producer Julian Cress said: “We are in a very volatile real estate market and have seen large and unexpected increases in interest rates, including one this week.

“Even though we had a lot of registered bidders, clearly something has spooked the market.”

“They will go into negotiations now and, I guess, they will most likely have a selling price of a number that is well above what that advertised booking was,” he added.

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