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Fair enough, but with properties costing hundreds of thousands of dollars, another $500 is quite small. The advantage is that all potential buyers could immediately see the pros and cons of a property, thus avoiding wasting the time for all involved. It would also avoid the need for a potential...

Agree. If an inspection is part of the documentation provided by the vendor it would be a lot simpler. I've read about building inspectors providing a report for an interested person, and then, with minimal further work, providing the same report to a second person for the same price.

It is certainly the right of the vendor to alter the reserve as the sale process proceeds. But surely citing a range below the reserve does not assist anyone, as the majority of potential buyers have a maximum price below the reserve, Also, if a REA consistently cites a range below the reserve...