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  • Profile photo of jpmhjpmh
    Member
    @jpmh
    Join Date: 2007
    Post Count: 3
    March 23, 2007 - 9:54 am

    thanks guys – keep the advice coming!

    it’s 41m2 internally and I paid $215K.

    having just read steve’s book, does the 11 second rule still apply in 2007?

    Jim

    Profile photo of jpmhjpmh
    Member
    @jpmh
    Join Date: 2007
    Post Count: 3
    March 23, 2007 - 7:53 am

    Hi

    Of course your agent wants to auction – it gives him/her a big advertising pot and a good chance of selling the property within 3 to 4 weeks, commission banked!
    Selling by auction can only ever give you a result that is slightly better than second best. As soon as Mr A stops bidding then Mr B is in control, assuming there are no further bidders, Mr B wins. The problem is – you will never know how much Mr B was willing to spend because he has no one bidding against him!

    Ask your agent about tender. Its a sealed bid process similar to auction but its private so Mr A is likely to bid close to or at his top bid.

    If you want further info please ask – i’m an agent in NZ.

    jpmh[biggrin]

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