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amazondean
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Joined: 07-01-2011
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  • Lincoln is a University City that is expanding, so there will always be rental possibilities across the board. However, this means that bargains are few and far between, as there are plenty of Landlords wanting to buy. I would just wait six Months or so, as I am just starting to see price reductions...
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  • amazondean
    replied to Selling at auction
    I am not sure what you are trying to say really. It wont get to £50 because there is a reserve and the auctioneer will bid it up to whatever they like near the reserve, if there are no bids or only one bidder .

    If there was no reserve, then yes, you could end up with a house for £50 if...
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  • amazondean
    replied to Selling at auction
    If a property at auction has no reserve, the auctioneer cannot bid the price up, otherwise the auctioneer might end up with it!. The price will end up being what the property is actually worth.

    If the property has a reserve, the auctioneer can and does, bid the price up to, but not including...
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  • amazondean
    replied to Selling at auction
    Well, if houses didn't have reserves at auction we would really see what houses are worth wouldn't we. Yes it is there to protect the system, otherwise houses would be selling for about 25% less than they actually do. Then either know one would ever sell at auction or we would all see the true value...
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  • amazondean
    replied to Selling at auction
    Most properties, if not all have reserves, that get bidded up to from the auctioneer off the wall, more to protect the whole system than anything else. If there was no reserves on properties the world would realise what a con the whole house selling scandal is
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