Hi all, got a bit of an odd situation here...
I’m pretty keen on bidding on a property that is going to auction and I think there is a pretty good chance that the bidding won’t meet the reserve as there are numerous defects with the property. The issue is that it is being sold because of a "messy divorce" and the reserve price has been set by the court. What happens if I’m the final bidder and the bidding has not reached the reserve, am I able to go in and negotiate with the vendors or will it have to go back to the court to make a new order?
Thanks!
I’m pretty keen on bidding on a property that is going to auction and I think there is a pretty good chance that the bidding won’t meet the reserve as there are numerous defects with the property. The issue is that it is being sold because of a "messy divorce" and the reserve price has been set by the court. What happens if I’m the final bidder and the bidding has not reached the reserve, am I able to go in and negotiate with the vendors or will it have to go back to the court to make a new order?
Thanks!