Lost buyer for third time

GDB2222

https://forums.moneysavingexpert.com/discussion/comment/82143525#Comment_82143525

You can’t believe the guide price. Also, best to check the legal pack to find out what the new lease will cost you.

otb666

Thank you I will keep ya all updated but certainly helped me

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82143578#Comment_82143578

Yes these auctions can appear to throw up potential stone cold bargins if the guide prices can be believed.

The reality is the 'market' ( prospective buyers) dictate the real value.

I remember from a Savills auction awhile back that a very short lease of a large totally unmodernised maisonette in Mortlake ( very desirable SW London suburb) was guided at £100k to £125k.

The hammer came down at £650k which was only £100k less than its modernised long lease market price. Irrational bidders can also be a factor in achieving auction sales of what would appear to be problematic properties an ordinary estate agent might struggle to sell.