Nsw trustee & guardian auction
- Thread starter agent007
- Start date
Do you mean where they are the vendor acting under a POA?
Yes. When the are the vendor who motivated/pushy are they to achieve a particular price? Will they really wait till they achieve it or will they be more motivated for a quick in case there is no much interest in the market?
In 99.99% of the cases I've been involved with / seen, they take the property to auction after a 6 week marketing campaign to been seen to be doing the right thing (trying to achieve market value or above).
I have seen 1 case only, where the PT accepted an offer and signed the day prior to the scheduled auction day. The property was worth $650K max and the offer was over $750K. The buyer could not attend the auction next day.....so rather than lose an insanely high priced offer, they did the right thing by their seller client.
If there is not much interest or the property gets passed at auction, will they keep on marketing it till they achieve what they think the property is worth or will they be more incline to a quick sale after the auction at a much lower price that the originally expected?
Thanks!
If PI at auction, they tend to become keener for a sale and will, in my experience, listen to advice from the listing agent about realistic offers.
I've bought these. Missed the auction (well stupidly because I thought it would be out of my price range. Saw it listed on the Monday. Put an offer in. Counter offered and accepted. They wanted auction conditions which I was OK with.
Make an offer after it's passed in if you can/want to.
After that it's put on as a normal listing. Usually a decent price. Can negotiate that also. How much depends on how long it's been listed.
