iN PHOTOS: Why this $11.5M North Okanagan luxury property could be a steal of a deal

If you're looking to buy waterfront property for under the list price, a 10,000 square-foot Coldstream home is up for grabs and bidding is currently taking place.

Valued at $11.5-million, the current bids for the six-bedroom home sits at $6.2-million, and with the unreserved auction finishing tomorrow, Sept. 18, there's a chance the lucky bidder may snap themselves up a relative bargain.

Concierge Auctions project sales manager Ian Johnson said the property has had lots of interest with more than 40 qualified showings taking place.

The six-year-old property is located at 8200 Kalavista Dr. in Coldstream, and features six bedrooms, nine bathrooms, a home theatre, a private gym, a hot tub, billiards rooms, and an extensive open plan living area with a vaulted ceiling. The kitchen even has three dishwashers. The expansive patio leads to 173 feet of private sandy waterfront.

"There tons of photos of the home but they don't do it justice, actually being in the home is what has got people's attention," Johnson said. "We got a lot of bidders on this one."

Johnson won't hazard a guess at what the property will sell for, but even to take part in the auction, prospective bidders have to register with a $100,000 refundable deposit.

The property was built as a second home, and Johnson says the property doesn't appear to have been used much. While he's keeping mum about who the seller is, he did say the only reason for the sale is that the family is building a bigger property further up the lake.

To check out the listing (and place a bid) or just to check more photos go here.

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