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Extra Discount If You Can Complete Before...

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Any buyer would be looking for some kind of reduction on the asking price in the present market anyway.

I can't see this strategy catching on - what does the seller do on 31/01/11 if they haven't sold? A more likely scenario than not. To have any hope of selling in the near future they would either have to extend this deadline or lower the price permananetly by 7.5%

Edited by Unsafe As Houses
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I saw my first auction property yesterday that stated the auction date coming up, then stated they had received an offer 11% below the guide price and stated that any other offers needed to come in above it.

11% below asking price is not special IMPO at the best of times.

Very few auction properties sell prior to the auction, the only one's that sell prior to the auction would be in excess of the guide. These tend to be in the most desirable areas. The auction house know there will be competition on the day and you will be part of it.

The upper guide price stated tends to be the reserve price.

That's why auction's are good sign of sentiment. When the percentage of lots sold falls through the floor you know buyer's have smelt the coffee.

My own area this year sales at auction's have been constant.

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it's a new thing from this estate agent, multiple branches, this one showed up on mine for ashton-under-lyne

overpriced 2 bed terrace in nice street with added marketing gimick

Can't see the point, I don't see it being something they would try and enforce if you were going to take an extra 14 days to complete. Just seems to formalise the process of accepting that agreed sales requires discounts. What it does not seem to take account of is that it is for the buyer to offer the amount of discount, and the vendor to accept or decline.

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  • 419 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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