I've been to two auctions recently where the auctioneer 'persuaded' the holder of the highest bid to raise their bid (against themselves) to put the house on the market. At auction yesterday a 3bed 1 bath renovator reached 340K. The auctioneer then paused the auction for 'vendor instructions'. After some street theatre and discussions with the highest bidder the auctioneer returned and announced that the bidder had raised their bid to 415K and that the house was now on the market. You could have knocked me over with a feather.
Fortunately for the bidder no-one else chipped in at that point but they clearly were unaware that they had a free run at post auction negotiation (with a worried seller) if they just held fast and the property was passed in. Perhaps Michael Caton on Hot Property should explain the rules for these punters. Sheesh.
Fortunately for the bidder no-one else chipped in at that point but they clearly were unaware that they had a free run at post auction negotiation (with a worried seller) if they just held fast and the property was passed in. Perhaps Michael Caton on Hot Property should explain the rules for these punters. Sheesh.