Howdy,
Has anyone ever purchased a house via auction?
I've seen a decent prospect to purchase, it says:
How much do auctioned houses usually go above "starting bid"?
Generally I've seen them listed with "guide price" showing an expected range, this one simply has "starting bid".
Also, is the 4.2% reservation fee about average?
It has just come on the market so I was told by the agent they will get back to me, so will ask them the same questions when they do, but just curious if anyone is familiar with House Auctions and if they could provide their opinion.
Thanks
Has anyone ever purchased a house via auction?
I've seen a decent prospect to purchase, it says:
Starting Bid Price £270,000.00 plus Reservation Fee.
...
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT.
How much do auctioned houses usually go above "starting bid"?
Generally I've seen them listed with "guide price" showing an expected range, this one simply has "starting bid".
Also, is the 4.2% reservation fee about average?
It has just come on the market so I was told by the agent they will get back to me, so will ask them the same questions when they do, but just curious if anyone is familiar with House Auctions and if they could provide their opinion.
Thanks
