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clock Created with Sketch. 22/03/24
23:36
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Originally posted by kingpins
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Hi TThey are required by law to not under quote. Define an under-quote for an auction in today's marketWhen the price/bidding hits the range the house should be on sale and cannot be passed in. It is the sellers prerogative to choose the price that it sells for / the agent must do what the seller wantsSo if the seller is not willing to sell in the range stated. They have under quoted . Illegal. It would appear that you have never been a nervous auction seller What has under quoting got to do with thatSimple, eh? An auction is never simple, you get the house when and only when the auctioneer says sold
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I was in the market looking to buy last year for about 6-9 months. Every single price guide for an auction in the South West of Sydney was underquoting by 10-20%. Some even went over the 20% mark.
