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Auction Guides Being Dropped


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Pugh *& co auction - Leeds 6th December

Address

Town

Original Guide

New Guide

Oakwood Court, City Road

Bradford

£250,000 plus

now £225,000 plus

Kings Head, 69 Halifax Road

Bradford

£200,000 plus

now £145,000 plus

Land adjacent to 117-153 Bradford Road, Clayton

Bradford

£50,000-£60,000

now £40,000 plus

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Pugh *& co auction - Leeds 6th December

Address

Town

Original Guide

New Guide

Oakwood Court, City Road

Bradford

£250,000 plus

now £225,000 plus

Kings Head, 69 Halifax Road

Bradford

£200,000 plus

now £145,000 plus

Land adjacent to 117-153 Bradford Road, Clayton

Bradford

£50,000-£60,000

now £40,000 plus

An auction house has realised that prices are too high??!

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An auction house has realised that prices are too high??!

They only get a cut of the money when a house actually sells.

If they have an auction where nothing sells they lose shedloads. Have a few and they go bust.

Unlike estate agents, auctioneers have an active interest in getting the sellers to drop guide/reserve prices.

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They only get a cut of the money when a house actually sells.

If they have an auction where nothing sells they lose shedloads. Have a few and they go bust.

Unlike estate agents, auctioneers have an active interest in getting the sellers to drop guide/reserve prices.

I would have thought that is just like estate agents. They may be a bit slow to realise it during this housing crisis but it's also in their interests to drop the price if they can't sell.

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I would have thought that is just like estate agents. They may be a bit slow to realise it during this housing crisis but it's also in their interests to drop the price if they can't sell.

yep - and hence why there is a growing number of EAs who seem to be giving it this very message

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Pugh *& co auction - Leeds 6th December

Address

Town

Original Guide

New Guide

Oakwood Court, City Road

Bradford

£250,000 plus

now £225,000 plus

Kings Head, 69 Halifax Road

Bradford

£200,000 plus

now £145,000 plus

Land adjacent to 117-153 Bradford Road, Clayton

Bradford

£50,000-£60,000

now £40,000 plus

The "guide price" is absolutely meaningless. All it is there for is to attract attention to the sale.

It is often the case that the reserve is much more than the "guide price" so what use at all is the guide price?

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The "guide price" is absolutely meaningless. All it is there for is to attract attention to the sale.

It is often the case that the reserve is much more than the "guide price" so what use at all is the guide price?

It's always been annoying, and obviously misleading, but I guess punters fall for it and think they can get a bargain.

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I would have thought that is just like estate agents. They may be a bit slow to realise it during this housing crisis but it's also in their interests to drop the price if they can't sell.
Most EAs are also lettings agents, which is keeping them afloat.
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They only get a cut of the money when a house actually sells.

If they have an auction where nothing sells they lose shedloads. Have a few and they go bust.

Unlike estate agents, auctioneers have an active interest in getting the sellers to drop guide/reserve prices.

Local auction near me very recently had the worse bi-monthly auction yet. Sold 2 properties out of about 12 in total. Interesting the the total number of entries has gradually reduced as well.

Not exactly a growing market.

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The "guide price" is absolutely meaningless. All it is there for is to attract attention to the sale.

It is often the case that the reserve is much more than the "guide price" so what use at all is the guide price?

That's not generally true of Pugh's auctions. I'm on their mailing list and check out most of their auctions. I've only seen a few instances where the guide price was a deliberate come-on to get people interested. I've successfully bought several properties both pre-auction and in auction where my winning offer was at or just above the lower guide.

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This is the first sold below guide that has come to my notice in a long time

http://www.rightmove.co.uk/property-for-sale/property-31381330.html

Guide Price £170,000

3 bedroom block of apartments for sale London Road, Leigh-On-Sea, SS9

SOLD FOR £165,000. A freehold residential Investment comprising two flats, a one bed and a two bed, both let on assured shorthold tenancies. For sale by auction on the 30th November 2011. For more details, please see www.haircommercial.co.uk/auction

History

06 December 2011

* Brief Description changed: SOLD FOR £165,000. A freehold residential Investment comprising two flats, a one bed and a two bed, both let on assured shorthold tenancies. For sale by auction on the 30th November 2011. For more details, please see www.haircommercial.co.uk/auction

* Status changed: from 'Available' to 'Sold STC'

09 November 2011

* Brief Description changed: A freehold residential investment Investment comprising two flats, a one bedroom bed and a two bedroom, bed, both let on assured shorthold tenancies. For sale by auction on 28th September 2011 the 30th November 2011. For more details, please see www.haircommercial.co.uk/auction for further details.

* Price changed: Guide Price £185,000 £170,000

03 October 2011

* Brief Description changed: Available post Auction @ £180,000. A freehold residential investment comprising two flats, a one bedroom and a two bedroom, both let on assured shorthold tenancies. For sale by auction on 28th September 2011 please see www.haircommercial.co.uk/auction for further details.

07 September 2011

* Initial entry found.

First snows of K-winter or just a seasonal blip :unsure:

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  • 433 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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