This may be a difficult question to answer but would like to get some thoughts.
Went to auction on weekend to bid on 3rd floor apartment. Missed out and the property ended up selling for $468k. Went to open inspection yesterday for a ground floor apartment in same building (less secure, no courtyard, non-elevated, less natural light, and slightly worse condition than the 3rd floor) with identical floor plan.
The REA said that the the auction will not be until spring (~3 months away) and vendor would only consider private sale with offers $460k+ on the back of the 3rd floor result last weekend.
Question is, is an $8k difference an unrealistic expectation on the vendors behalf or a REA doing what they do best, talking BS?
For people in here who have a lot more experience than me, if a 3rd floor apartment sells for $468K what would you reasonably assume a ground floor apartment in the same block would be worth? I know its hard to answer with so many variables (some of which I have mentioned above), but some guidance/opinions would be great
Thanks guys
Went to auction on weekend to bid on 3rd floor apartment. Missed out and the property ended up selling for $468k. Went to open inspection yesterday for a ground floor apartment in same building (less secure, no courtyard, non-elevated, less natural light, and slightly worse condition than the 3rd floor) with identical floor plan.
The REA said that the the auction will not be until spring (~3 months away) and vendor would only consider private sale with offers $460k+ on the back of the 3rd floor result last weekend.
Question is, is an $8k difference an unrealistic expectation on the vendors behalf or a REA doing what they do best, talking BS?
For people in here who have a lot more experience than me, if a 3rd floor apartment sells for $468K what would you reasonably assume a ground floor apartment in the same block would be worth? I know its hard to answer with so many variables (some of which I have mentioned above), but some guidance/opinions would be great
Thanks guys