Can you put a reserve?
Can you have a reserve price?
Asked on Mar 13 2010,
General in Driffield |
A reserve price is normally set on a property which is being sold via public auction, should you be selling via a traditional estate agent you can inform them in writing that you do not wish to hear about offers below a certain price. Although in practice it is generally best to hear about every offer as a property is only worth what someone will pay for it.
Answered on Mar 14 2010,
The simple answer is yes ans you can change the reserve right up until the auction starts the reserve price is never disclosed to anyone.
Answered on Mar 16 2010,
The answers are correct.
For auction we talk about a 'guide' and 'reserve' price.
The reserve represents the minimum level the seller would accept for the property, but this is confidential between the Auctioneer and client. The guide price is the advertised figure and should be a true and realistic representation of where the guide is likely to be.
Answered on Apr 1 2010,
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