AUSTIN, Texas — Zillow is offering $500 million for a house in the Austin, Texas suburb of Austin, and the company is expecting a bidding war to break out.
The Austin Chronicle reported Wednesday that Zillow will offer $500m for the 3,400-square-foot home, a 5,800-square foot townhouse on a prime block with a backyard.
The home will be valued at $1.2 million, but Zillows sales team expects a bidding fight to begin soon.
Zilliow says the price tag is a “significant amount” above what other real estate investors are paying for Austin homes.
The home is not for sale.
The home is listed for sale on ZillOW for $2.4 million, and Zillowing says it has a “high” interest rate of 5%.