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Who gets the right price?

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  • Who gets the right price?

    Hello

    In my time in the property sector there's always been a question that I would like answered. In terms of getting the best price for a property who is the best, the Estate Agent or the Auctioneer?

    Thanks

    Propertyman
    www.ThePropertyBid.com Your 24hr Property Auction.

  • #2
    Auctions tend to exaggerate the trends of the market. Think of it this way, in a bookshop every book of the same size costs the same price (nearly). On ebay a harry potter book will sell for more than a book by Soseki. At an property auction, a Richmond property will go for more than it's worth, a Hackney one for less.

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    • #3
      Who gets the right price?

      Auction really making difference to the market. In Sell your home and property in UK is not quite far from this notion. So all you need to gather information from the right real estate agent for better results.

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      • #4
        Auctions are very risky for buyers who need mortgages because to be safe they should get their mortgage offer in place before the auction and they might not end up buying the property. If they wait until they have successfully bdi for it they might not get the mortgage they need. So you tend to find auctions are mainly for cash buyers. This can depress the price particularly for ordinary property with nothing much wrong with it

        Sometimes unusual property or property with a problem may sell better in an auction, perhaps because the buyer hasn't spotted the problem!

        As a conveyancing solicitor I believe the information given in the post to be useful but I accept no liability except to fee-paying clients.
        RICHARD WEBSTERwww.rwco.co.uk
        As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.

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        • #5
          Getting the best price

          This is determined by your knowledge of the property and surroundings, and also by your understanding of the various buying processes.
          Though in answer to your question, may I suggest that if there is such a thing as the best price it may be better obtained from negotiations with the actual property owner / vender as they are selling for whatever reason/s and not focused on the amount of commission that they can get from the sale.

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