15 February 2009
HAMMER DOWN: Homeowners having to sell in a storm are using auctions rather than sole or multiple listings to get the job done.
Homeowners having to sell in a storm are using auctions rather than sole or multiple listings to get the job done.
That has surprised some property consultants and advisers, who expected wrong-footed sellers would seek the more benign bargaining environment that a negotiated settlement potentially offered.
Consultant Andrew King said buyers at an auction also had to have cash financing in place. "That could be more of a problem in the current environment," he said.
Martin Evans, president of the NZ Property Investors Federation, said: "I don't think auctions would be the way to go right now."
Homeowners having to sell in a storm are using auctions rather than sole or multiple listings to get the job done.
That has surprised some property consultants and advisers, who expected wrong-footed sellers would seek the more benign bargaining environment that a negotiated settlement potentially offered.
Consultant Andrew King said buyers at an auction also had to have cash financing in place. "That could be more of a problem in the current environment," he said.
Martin Evans, president of the NZ Property Investors Federation, said: "I don't think auctions would be the way to go right now."
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