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Hi Kevin, Interesting story. Just wondering about the "scarcity" value of that property in Wavell Heights? I agree that elevated position with city views is attractive. How many of those come on the market? Occasionally? regularly? If they rarely come on the market then scarcity value would...

Hi July, A book I have talks about setting reserves. First a pessimistic estimate of the price at which a property might sell is determined followed by an optimistic view. The reserve is the middle of these two figures. My guess is that the range between pessimistic and optimistic with this...

Hi July, Like the others, I feel you are in a strong bargaining position given that nobody apart from you is biting above 278K. As time goes on capital growth will increase the value of the property and the vendor will be more reluctant to sell below the reserve. But, in your favour, it will...