What just happened? Auction goings on in BNE

Discussion in 'The Buying & Selling Process' started by fleathedog, 16th Jul, 2016.

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  1. wylie

    wylie Moderator Staff Member

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    LOL Big Will... it took me a little while to work out that you meant "unconditional". I was thinking "What does being uncoordinated have to do with not being able to bid at auction?" :D:p
     
    Marg4000 likes this.
  2. Tonibell

    Tonibell Well-Known Member

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    Have purchased twice at auction in Brisbane (both over $600K) and three times in Sydney.

    Definitely felt more "buyer power" in Brisbane - in Sydney most sellers expect they can get an unconditional contract where in Brisbane they half expect the contract to crash.

    If they can get a half reasonable offer at the auction - they grab it.
     
  3. Propertunity

    Propertunity Well-Known Member

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    And additionally, less argument from valuers regarding market value if the property is sold under the hammer - it's an auction result. So do all your negotiations before the property gets passed in and once agreement is reached, let the auctioneer knock it down to you.
     
    Marg4000 likes this.
  4. Big Will

    Big Will Well-Known Member

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    Sorry it is a bad habit I have kept from when I was a REA, unco = unconditional.

    I know it sounds weird saying hey I have an unco offer for you haha.
     
    Bran likes this.