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Reverse Auction In Edinburgh

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You probably heard about the reverse auction in Edinburgh, £800K for an overpriced house reducing by £2K per working day.

It's down to £762K, a long way still to go I think.

You see, there is a similar property on the same street for fixed-price £499K. That will sell for around £450K in today's market, less over the coming months. It has 1 less bedroom but is nicer as it's on the 1st and 2nd floor instead of being underground ("basement flat").

Reverse auction £762K:

http://www.rettie.co.uk/buy_property/view_...omepage_views=1

Fixed price £499K:

http://www.espc.com/EspcPublic/UniversalPa...aspx?rid=192135

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"

You probably heard about the reverse auction in Edinburgh, £800K for an overpriced house reducing by £2K per working day.

It's down to £762K, a long way still to go I think.

"

In that rate they will be able to sell it end of next year

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You probably heard about the reverse auction in Edinburgh, £800K for an overpriced house reducing by £2K per working day.

It's down to £762K, a long way still to go I think.

Thanks for updating us on the Dutch auction. Funnily enough I was just wondering what had happened to this guy.

Welcome BTW. :D

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Existing thread on p2 with some further info. Nice touch finding the other comparator property.

http://www.housepricecrash.co.uk/forum/ind...showtopic=17514

Interestingly you can submit a bid in advance at a fixed price yet to arrive - ie you can bid to buy it at £7xxk if it drops that far and if noone buys it before that level you get it. Maybe there are dozens of people out there who have bid already and are waiting, fingernails between teeth (much like the owner).

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Just a weekly update for the few interested:

Down another £10,000 on the week and still going. Currently £752,000 (£48,000 down from £800,000)

http://www.rettie.co.uk/buy_property/view_...rice_min=750000

He is only 9 days away from breaking below his original "offers over" price of £735k. If that happens he needs to take a good look at himself and his agent's view of the market.

Potential bidding war my a*se...

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  • 301 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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