I've been searching old threads and cannot find what I'm looking for so I hope you can help.
I have a house I am interested in. It goes to auction in two weeks. The price guide I have been given by the agent is $300-350 but the agent said he thinks it will sell for more. I'm not sure whether to believe him or not!
I've been told a B&P must be done prior to auction. Why would anyone do that? It is an expensive outlay with no guarantee of success since you don't know who your competition is or if there is any competition. Can you ask the agent what the competition is or if there has been any B&P's done?
What is the point of doing a B&P if you buy at auction since you can't use it as a negotiating tatic?
What can I do to minimise the risk if I want to bid? Any advice is appreciated
Sue
I have a house I am interested in. It goes to auction in two weeks. The price guide I have been given by the agent is $300-350 but the agent said he thinks it will sell for more. I'm not sure whether to believe him or not!
I've been told a B&P must be done prior to auction. Why would anyone do that? It is an expensive outlay with no guarantee of success since you don't know who your competition is or if there is any competition. Can you ask the agent what the competition is or if there has been any B&P's done?
What is the point of doing a B&P if you buy at auction since you can't use it as a negotiating tatic?
What can I do to minimise the risk if I want to bid? Any advice is appreciated
Sue