- abellamotlParticipant@abellamotlJoin Date: 2020Post Count: 0
I was hoping to put in a pre-auction offer this unit with a quoted price range of $620k-$670k. There is definitely a lot of interest so was hoping not to have to go to auction. I was told by the agent that the vendor will not look at any pre-auction offers below the $700k mark. Is the agent meant to update the quoted price range to reflect that?
Hoping someone can help me understand.
JenBennyModerator@bennyJoin Date: 2002Post Count: 1,416
I was told by the agent that the vendor will not look at any pre-auction offers below the $700k mark. Is the agent meant to update the quoted price range to reflect that?
I wouldn’t have thought so. The agent is simply saying that the vendor is hopeful of having a “lively auction” where the price could go above the expected range, and that (for now) they won’t entertain any offers below that $700k number. At auction, it could also be passed in at $640 or so, leaving the door open to other offers then.
For a price though (the uplift to $700k or above) they might be willing to “look at” your offer ahead of time. Otherwise, go to auction and be the highest bidder (hopefully after it gets passed in….). Good luck with it,