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Westcountry Property Auction Results

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These are the results of the property auction held on the 15th & 16th september in Devon & Cornwall. Total of 103 lots. 62 are still available, 10 withdrawn. 31 sold. I`ve noticed recently they are making the guide prices even lower than normal, to get punters interested. Trouble is, the reserve price is somewhat higher, so it`s inevitable that results like this are going to be the norm, unless they drop the reserve price. I can`t eat all this bear food recently.

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These are the results of the property auction held on the 15th & 16th september in Devon & Cornwall. Total of 103 lots. 62 are still available, 10 withdrawn. 31 sold. I`ve noticed recently they are making the guide prices even lower than normal, to get punters interested. Trouble is, the reserve price is somewhat higher, so it`s inevitable that results like this are going to be the norm, unless they drop the reserve price. I can`t eat all this bear food recently.

Thanks for the report, I did strongly consider going to go to the one in Redruth (but I had something more important on that day). I still feel that auctions are still too much 'a la mode' to bag a genuine bargain. I think I can predict without looking which are still available and I would guess that those that were sold were sold at around the true current market value.

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These are the results of the property auction held on the 15th & 16th september in Devon & Cornwall. Total of 103 lots. 62 are still available, 10 withdrawn. 31 sold.

..., so it`s inevitable that results like this are going to be the norm, unless they drop the reserve price.

Interesting.

That is an awful lot of unsolds, so I wonder how much they will drop the guide price next time they take these places back to auction?

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any linky kirsty?

imagine it msut be hard shifting auction properties as people are well aware they may not get mortgage finance in the 30 day time limit.

Don`t know how to do that. If you google Fulfords, then click Auction results, you will then see for yourself the car crash results. Slim pickings for the agents i imagine.

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20

8 Tehidy Road Camborne

£45,000+

£77,000

That was an interesting one, on the face of it a decent house and garden for less than half the normal price (at £45k) but I hope the buyer visited it first. The whole house was impregnated with the stench of dogs and their business, you would only be able to remove it by entirely gutting the place.

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These are the results of the property auction held on the 15th & 16th september in Devon & Cornwall. Total of 103 lots. 62 are still available, 10 withdrawn. 31 sold. I`ve noticed recently they are making the guide prices even lower than normal, to get punters interested. Trouble is, the reserve price is somewhat higher,

Hi,

thx and this is a naive question, but is that practice legal? How can the advertised guide price be less than the reserve?

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Hi,

thx and this is a naive question, but is that practice legal? How can the advertised guide price be less than the reserve?

In the same way that a normal seller can advertise their house at 100K and only be prepaed to accept offers over 120K.

tim

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Hi,

thx and this is a naive question, but is that practice legal? How can the advertised guide price be less than the reserve?

If the bid is near to the reserve a good auctioneer will say "I will try for you" meaning he will contact the buyer. If it's nowhere near the ask he won't bother (well usually anyway). I have always thought that "bids offthe wall" is the real shady practice.

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Cant they do that 'bouncing bids off the wall' thingy until the reserve is hit, as hilariously showcased by the two peroxided scouse women on that C5 property show a couple of years back.

You can't say that without posting it:

How much did they cost them?

15k for definite

Maybe another 5 - 10k that they could have negotiated it down when it was withdrawn. I'm sure one politician at the GE was calling these people entrepeneurs. Berks is more to the mark.

Mandatory vieiwing before going to an auction. Get it withdrawn if possible, and it was news to me that fictitious bids from the auctioneer are perfectly legit.

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I was cringing watching that video. Never knew it was legal to take ghost bids.

I have bid at auction and there is lots of pressure for sure. You need to have a limit in your head before the biding starts.

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Hi,

thx and this is a naive question, but is that practice legal? How can the advertised guide price be less than the reserve?

A guide is just that, there to generate as much interest as possible, so bringing as many potential bidders to the auction.

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You can't say that without posting it:

How much did they cost them?

15k for definite

Maybe another 5 - 10k that they could have negotiated it down when it was withdrawn. I'm sure one politician at the GE was calling these people entrepeneurs. Berks is more to the mark.

Mandatory vieiwing before going to an auction. Get it withdrawn if possible, and it was news to me that fictitious bids from the auctioneer are perfectly legit.

Thanks for that - hilarious!!

Don't suppose you have their reaction when they found out do you?

Edited by catmandu

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I was cringing watching that video. Never knew it was legal to take ghost bids.

I have bid at auction and there is lots of pressure for sure. You need to have a limit in your head before the biding starts.

It is quite mental. Never knew that myself. I suppose there is nothing stopping you from asking the auctioneer the whole way through to confirm who the other bidders are ?

They may think you are a dick, everyone else may get annoyed - but it would stop you getting ******ed over.

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It is quite mental. Never knew that myself. I suppose there is nothing stopping you from asking the auctioneer the whole way through to confirm who the other bidders are ?

They may think you are a dick, everyone else may get annoyed - but it would stop you getting ******ed over.

Someone did that on HUTH.

AIH it was at a Fulford's auction with their, normally, very affable auctioneer.

His reply was something to the effect of "none of your business".

tim

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Stand at the font of the room with your back/side or backside to the auctioneer and look back at the room - then you can see who else is bidding or not. :lol:

Bids off the wall, bids from friendlies who can bid up to the reserve with no consequences whatsover to get the bids going, all par for the course.

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Stand at the font of the room with your back/side or backside to the auctioneer and look back at the room - then you can see who else is bidding or not. :lol:

Bids off the wall, bids from friendlies who can bid up to the reserve with no consequences whatsover to get the bids going, all par for the course.

Bids off the wall have always gone on. I would be very loathe to engage in it on the back of this, albeit an online auction but still sets a precedent that a court will pass sentence on it.

http://www.guardian.co.uk/technology/2010/apr/20/ebay-seller-convicted-auction-fixing

Very hard to enforce. I've often been left doubtful auction room staff taking bids off the phone aren't just listening to the dialling tone.

Edited by Soon Not a Chain Retailer

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Someone did that on HUTH.

AIH it was at a Fulford's auction with their, normally, very affable auctioneer.

His reply was something to the effect of "none of your business".

tim

Havent seen HUTH for a good few months, but Is the Fulfords one the one that always has the 'loud' pinstripy suits?

The savills one always comes across as very obnoxious, as if he's doing everyone a favour for turning up to the auction.

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These are the results of the property auction held on the 15th & 16th september in Devon & Cornwall. Total of 103 lots. 62 are still available, 10 withdrawn. 31 sold. I`ve noticed recently they are making the guide prices even lower than normal, to get punters interested. Trouble is, the reserve price is somewhat higher, so it`s inevitable that results like this are going to be the norm, unless they drop the reserve price. I can`t eat all this bear food recently.

It will be interesting to see if the unsold properties crop up in their next auction and if so, what the new guide prices are. I suspect Fulfords may be having a bit of a rethink on reserve/guide prices when they do their next 'appraisals'.

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I've been to a few of these auctions and man are they scam. Really they should be made illegal.

From my experience, property auctions a way for a property seller to extract that cash really fast. And if they don't get their reserve then they'll just put it back on the market. I've seen that happen so many times, I stopped going.

Two new regulations would really help the property market here:

(1) A verbal offer made and accepted should be binding (like Scotland). No gazumping or gazundering.

(2) Auctioneers should be required to publish the reserve price of a property; if the owner chooses not to put in a reserve then the highest bid gets the property, even if it is only 50 pence.

That would stop all the nonsense.

Edited by Toto deVeer

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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