In my last update, I forgot to mention my experience at an auction!! The Aussies have taken multiple offers for the sale of a property to a new level!! They organize a live auction - about 50-100 people stand outside, some just along to watch the auction, others to bid on a generally overpriced house. The real estate agent stands there, encouraging the audience to reach deep into their pockets and buy the current gem for about10-25% more than the asking price. There's quite a lot of pomp and circumstance and eventually the price is finally decided. My first experience, the price slowed at about $670K, only to get a measley $2,500 bid and then suddenly, $50K later, it sold for $835K!! You can see the emotion on the people's face as the bidding goes on - it's all very exciting when you're not the one trying to purchase a house!!
For all those looking at home to purchase a house, be happy that you don't have to go through an auction experience!!
S
No comments:
Post a Comment