IN PHOTOS: Luxury Edmonton home going to unreserved auction

WATCH ABOVE: They say there’s no reward without the risk and one Edmonton homeowner is taking a chance, selling his luxury, custom built home in a unique way. Vinesh Pratap has the details. 

EDMONTON – Nestled in a southwest Edmonton community, backing onto the North Saskatchewan River, a new home recently hit the market.

While it sounds fairly routine, the approach the homeowners are taking to sell the home isn’t anything but. Plus, the house itself is anything but ordinary.

The $3.8 million, 6,070 square foot home in Edmonton’s Donsdale neighbourhood was custom built by its current owners in 2003. The two-storey home has four bedrooms, six bathrooms, six fireplaces and an elevator. It sits on 12,600 square feet of land and overlooks the picturesque North Saskatchewan River.

“You get the bend of the river,” said Marcel Tessier, owner associate with Remax Elite. “One of the nicest spots I’ve ever seen here in Edmonton.”

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Plus, not to be overlooked, there’s an underground parkade.

“(It) can easily fit about six cars,” said Tessier.

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Tessier says the homeowners have downsized, space-wise anyway. They purchased a smaller multi-million dollar home down the road.

“It was just too much of a home for the two of them,” he said.

But instead of taking the traditional approach of listing the home, the owners have opted to put it up for unreserved auction, which means the highest bidder – regardless of how low his or her price – could potentially walk away with a steal of a deal.

“To go unreserved is a tremendous risk,” said Tessier. “I’m sure that the seller has butterflies everyday just wondering what’s going to happen.”

The selling approach is quite unique to high-end real estate in Edmonton. While an unreserved auction was held for a luxury condo in June 2013, Tessier says this is the first time an Edmonton home has been sold this way.

“Here is the only residential, high-end home this has been done with, so it will be quite interesting.”

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While unique, Tessier believes this may change the way high-end real estate is sold in Edmonton.

“It may actually be a new way of doing it,” he said. “Most of the high-end real estate is very unique, they’re custom built. The sellers, a lot of times, do not want a lot of people through their homes when they’re here so they’ll move out and then it’s fine to show the home.”

Tessier says about 220 people have viewed the home over the past five weeks, with about eight to 10 serious buyers.

The auction is being held on Thursday at 7 p.m. Those interested in taking part in the auction must pre-register for the auction at least 24 hours in advance.

The back of the home. Vinesh Pratap, Global News
The front of the home. Vinesh Pratap, Global News
The underground parkade. Vinesh Pratap, Global News
The entrance to the underground parkade. Vinesh Pratap, Global News
The view from the back of the home. Vinesh Pratap, Global News
The view from the back of the home. Vinesh Pratap, Global News
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The main staircase. Vinesh Pratap, Global News
The living room. Vinesh Pratap, Global News
The kitchen. Vinesh Pratap, Global News

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