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wait a minute, $580k for a rennovated house thats better in the same street/area
while a termite ridden, stuffed, where someone had died in it sold for $600k
thats just insane, what are some people thinking!
My thoughts exactly.
People just go stupid at auction.
The only time I've had success at auction was when it was a mortgagee auction, and it was a while ago when everyone was saying the property market was going to keep falling and no one wanted to buy. Purchased at Auction for $370k, spent maybe $30-40k on it (incl stamp duty, etc..), just valued by the bank at $540k. But there is no way I could get the same result in today's market.
Straw hats in winter!! Well done.My thoughts exactly.
People just go stupid at auction.
The only time I've had success at auction was when it was a mortgagee auction, and it was a while ago when everyone was saying the property market was going to keep falling and no one wanted to buy. Purchased at Auction for $370k, spent maybe $30-40k on it (incl stamp duty, etc..), just valued by the bank at $540k. But there is no way I could get the same result in today's market.
But you can; I saw it on tv."Do not think you can do a structural renovation over two weekends, and expect to make $100k"
There is no real way around it. Nothing stops someone bidding above a quoted price.
I'm not really sure what the issue is. Obviously someone is willing to pay. How does quoting it a higher price help the person who missed out buy it?
It's about quoting it at a price that the vendor is willing to accept and that which usually matches the written estimation provided by the selling agent to the vendor. Quoting a figure under this is misleading and deceptive to buyers.