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What does a guide price mean and what the original price of the property is?

Asked on May 27 2016, General in Kent | Report content

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  • 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, Report content
  • 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, Report content

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