The property at 12 Mowhanau Dr has a dangerous building notice on it.
Bayleys Whanganui has two very different properties up for sale in its first on-site auction.
Marketing manager Ananda de Koning said considerable interest was expected at the auction on Wednesday, May 1.
"There have been a lot of inquiries and interest in both properties," de Koning said.
One is at 29 Riverbank Rd in Whanganui East, set among mature gardens and trees that go down to the riverbank.
The second property at 12 Mowhanau Dr, Kai Iwi Beach, has a dangerous building notice on it after a landslip in 2015. The agent says the property could be "restored to its former glory" or the house could be removed and the site redeveloped to maximise the sea views.
Auctioneer Grant Bayley is coming from Taupo to run the auction, the first in a series of regular auctions, de Koning said.
"In the meantime, we'll bring in auctioneers but eventually we'll have someone in-house to run them," she said.
"I think Whanganui is ready for auctions. It's probably the most transparent process in terms of buying and selling. It's a win-win for both parties."
Sellers got the best price for their property in a competitive environment and buyers knew how others were bidding and could be assured they had done their best to secure a property. The auction process also provided certainty with the transaction going unconditional on the day.
The auction will be held at Bayleys Whanganui on the corner of Guyton and Wicksteed streets at 2pm on Wednesday, May 1.
As the crowd chanted, Seymour walked back into the Beehive with his MPs.