MATTHEWS, N.C. -- There is a chance many of you have driven near it and didn’t even know it was there. Just off of Pineville-Matthews Road is likely one of the largest private estates in Mecklenburg County.
The sprawling brick home sits on nearly nine acres down a long, extremely private drive.
“When you’re driving down this long drive, which feels maybe a mile long, you have this great anticipation of things to come and then you arrive upon the circular drive and you see this beautiful brick structure,” said Stacy Kirk Reich, President of Grand Estates Auction Company.
Her company just sold the Revelwood Estate, as it’s called, but not in the conventional way.
“They tried traditional practices and unfortunately found it not to be time appropriate or cost effective,” she explained of the old owners. “They discovered Grand Estates actually by attending a few of our past sales and realized this auction platform was going to accomplish their goals in a short period of time.”
The home went on the auction block Tuesday and whatever the highest bidder offered, the seller would take.
“The property is being sold absolute, which means there is no minimum bid and no reserve bid. The property will sell to the highest bidder on Tuesday, May 1,” she explained. “They (the bidders) must have a certified check in hand which is for $100,000 made payable to themselves. They must also have their personal checkbook to makeup the remaining 10 percent down should they be the winning bidder. They should also be prepared to close within 60 days.”
The bidding started at $500,000 and eventually sold for $1.175 million to a local Charlotte resident. Overall there were nine registered bidders after 304 initial inquiries.
Reich didn’t talk about what she thinks the home is worth. Tax value on the property, which boasts six bedrooms, six full and three half-baths is around $1,500,000.
The unique features, like the circa 1847 restored log cabin on the property, appealed to buyers. Inside the home, the family room has cypress wainscoting from a church in Charleston that dates back to the late 1700’s.
“The floors came from the Hershey factory in Hershey, Pennsylvania. They are 14 inches wide planks,” she explained.
The house has a master wing, along with two children’s wings upstairs and garage parking for six cars. In the entertainment area on the second floor, a ticket booth from an old theatre in Ohio leads to a home theatre, complete with red curtains to block out the rest of the room.
“The kids, when they were younger, would sell tickets to their friends to enter the theatre room,” she said. The house does need some updating. Reich described it as a blank slate.
Before Tuesday, Reich’s company had already sold eight high-end homes this way just this year.