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SpectacularMuffins 10 points

Unfortunately this. The reserve price is almost certainly higher than the top of the quoted range, and they won’t want to sell prior to auction for less than the reserve.

Hokum81 1 point

Sold before auction... 700k

SpectacularMuffins 9 points

The reserve is the minimum price they’ll sell for at auction. It’s sucks, but underquoting is still standard practice. You can generally add about 5% to the top of the quoted range to estimate the true asking price.

You should still make an offer and go to the auction if you want the place, but be prepared for disappointment. I’m in the same boat.

Edit: I’m in Melbourne. Maybe things are less dismal elsewhere.

Hokum81 3 points

Also in Melbourne trying to buy my first home

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mrwillzone 2 points

now, i have this on my iPhone...emailed it to do i save it to add it as a text tone? great idea. i isolated Pixies "Hey" as a text tone years ago

Hokum81 1 point

Don't know how on iPhone I had to copy the file into the notification folder on android

RubenGamez 6 points
Hokum81 1 point

You're a STAR!

dandan14 1 point

That's a lot of money by US standards. When you buy a house in Australia, do you then also have to pay yearly property tax and insurance? If so, be sure you are considering that.

In the US, the bank usually sets the floor of the auction, so it is rare to get a really good deal.

Hokum81 1 point

We have yearly council rates which I assume are similar to property tax... I'm sure somebody will correct if not. This our first time buying a house so we have alot to get our heads around

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About hokum81

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