What does a guide price mean and what the original price of the property is?
Asked on May 27 2016,
General in Kent |
If an auction then 'guide price' is a guess at what it may fetch at auction: the seller might hope for more, a bargain hunting buyer might hope that no-one else is interested and get it for less.
If not in an auction: either looking for a quick sale that will go to sealed bids or a sign that the seller is more hopeful than the agent.
Answered on May 27 2016,
If at auction, a guide is an indication of what the property may sell for. It is not a valuation. The reserve is the minimum price the seller will sell for, and should be set around 10% of the guide.
Answered on Jun 12 2016,
Didn't find what you were looking for? Ask a question
More General in Kent questions on AskMe
See more AskMe Q&A about General