What is a Reserve Price auction?
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rosco
Apprentice
Joined: 07 Nov 2004
Posts: 2
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 Posted: 09/12/08 - 05:46 Post subject: |
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| I am hoping to get a foot on the property ladder over the next 12 months, and one of the options I am considering is to buy a property at auction. I have been looking into this option, sort of, and heard something about reserve price auction. Can you tell me what that means, please? |
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davide
Apprentice
Joined: 19 Apr 2005
Posts: 2
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| Posted: 10/03/08 - 23:52 Post subject: |
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| Sure, no problem. The reserve price at a property auction is in fact the very lowest price that the seller of the property (usually a bank or some kind of mediating company) is willing to accept for the property in question. The reserve price is as low as it gets! |
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