Unveiling the Hidden Costs of Buying at Auction Buying a property at auction can be an exhilarating experience, offering the chance to snag a great deal on a unique property. However, it’s important to be aware of the potential hidden costs that can arise during the process. Let’s explore what you need to consider before raising your paddle. The Hidden Costs of Auctions When you buy a property...
Understanding the Reserve Price in Property Auctions When participating in a property auction, one of the key terms you’ll encounter is the “reserve price.” This is a confidential minimum price set by the seller, below which the property will not be sold. It acts as a safety net, ensuring that the property does not sell for less than the seller is willing to accept. What is a Reserve Price? The...
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