The new batch of 20 buyback houses going up for auction were on display through open homes last week in Lismore, Woodburn, Murwillumbah and Kyogle as the NSWRA (Reconstruction Authority) looks to sell and relocate as many homes as possible.The auction process is a different process from the expression of interest process used in the first round, when 31 houses were on offer. Potentially, anyone could buy a buyback house for $1 if there were no other bidders. The NSWRA has said there is No Reserve price.Robert Horder, Principal and Licensee of PRD Northern Rivers, the real estate agent used in the buyback sale process, told the Lismore App that the number of people who went through Lismore was good; however, they were lighter at Woodburn, Kyogle, and Murwillumbah.For those looking to purchase a buyback home, it is worth inspecting the 20 houses on the PRD website because the condition of each varies greatly. Click here to view.The next open home dates will be June 11 and 12 next week. Here's the schedule:WEDNESDAY, JUNE 11 MURWILLUMBAH & KYOGLE9-9:30am: 8 River Street, South Murwillumbah9:30-10am: 11 Greville Street, South Murwillumbah10-10:15am: 117 River Street, South Murwillumbah10:15-10:30am: 119 River Street, South Murwillumbah11:00am-11:30: 30 Kyogle Road, Bray Park(117 River Street, South Murwillumbah)2-2:15pm: 8 Norton Street, Kyogle2:15-2:30pm: 13 Norton Street, Kyogle2:30-2:45pm: 17 Norton Street, Kyogle2:45-3pm: 22 Norton Street, Kyogle3-3:15pm: 24 Norton Street, Kyogle(22 Norton Street, Kyogle)THURSDAY, JUNE 12 LISMORE & WOODBURN9-9:30am: 172 Union Street, South Lismore9:30-10am: 15 Rhodes Street, South Lismore10-10:30am: 13 Frank Street, South Lismore10:30-10:45am: 5 Coleman Street, Lismore10:45-11am: 2 Molesworth Street, Lismore11am-11:15am: 19 Coleman Street, Lismore11:15-11:30am: 23 Coleman Street, Lismore11:30am-12pm: 14 Cathcart Street, Lismore1-1:30pm: 97-99 Richmond Street, Woodburn1:30-2pm: 119 Richmond Street, Woodburn(5 Coleman Street, Lismore)Enclosed footwear must be worn to inspect the properties.The aspect that will most appeal to potential buyers during this auction process is the 'No Reserve' policy.That's right, each of the twenty houses has no reserve, so if you are lucky enough, you could purchase a house for $1. It may be the house in the worst condition, but it may make relocating that house affordable.As a guide, Rob Horder said prices achieved during the round 1 expression of interest sale ranged from $1,000 to $30,000."That depended on size, features, condition, and whether they've been renovated or partly renovated. Some have been stripped out after the floods.""We expect the bidding to be in a similar price range. I guess the thing with an auction is if you've got two, three or four people really wanting the one property, then the price could go higher than that, but we are expecting bids in that price range. Rob said that most people are doing their research on how much it will cost to relocate the house to a block of land and then work backwards as to the price they are willing to pay. That research includes the cost of the block of land (if not a second dwelling on a rural property), the cost to reconnect to services like water and electricity and renovation costs to make it liveable.Anyone who purchases a buyback house has 12 months to move that house to a suitable block of land. The NSWRA has said there is flexibility around the timing because of the lack of Resilient Land Program house blocks for sale.New estates have a building covenant that states the type of dwelling that can be built on any block of land. These covenants are usually for newly built homes, not for relocated homes. Think of the Eastwood Estate in the western part of Goonellabah.As we know, the Resilient Lands Program has been an unmitigated failure since the February 2022 big flood. Many housing opportunities, such as the 400 blocks on Crawford Road, East Lismore, or the 80 on the North Lismore Plateau, are still on the drawing board. The only block ready for housing is the Mt Pleasant Estate in Goonellabah. It has four houses that were relocated in December 2024, which should be on the market by the end of 2025. The other 35 houses will not be relocated houses but a mix of single dwellings on different block sizes, a couple of townhouses and one area with a shared common area. The timing here is the end of 2026.This explains why the NSWRA needs to be flexible around the 12-month agreement to relocate a house. What if a person purchases a house for $1,000, but still has no suitable land to relocate a house to in that time frame?A NSWRA spokesperson told the Lismore App that any buyback house purchased will get extra time until a suitable Resilient Lands Program block is available in the Lismore LGA. At this stage, that is forecast to be the end of 2026. So, a buyback house purchased now will need an extra six months on the agreement to relocate the house, provided current timing remains on track.Another situation a buyer may experience concerns the holding deposit, which is set at $1,000. If they purchase a house for $100, they still need to pay the holding deposit. The $900 difference will be refunded later. The auction process for the next twenty houses and the flexibility around suitable blocks of land will determine the community's appetite for relocating flood-affected old timber houses.A reminder that you can view the available houses by clicking here.