If you’re selling your house by auction, I’m betting there’s a niggly wee question nagging at the back of your mind... ‘What if it doesn’t reach reserve?’
For many sellers, the prospect of passing in at auction is downright scary – quite honestly, it shouldn’t be. In fact, it might surprise you to learn that only 35-40% of all houses that are auctioned actually sell under the hammer. So if you pass in, you’re in good company.
Until you’re party to a property transaction, it’s unlikely you’ll ever have pondered how the settlement process works. If you’re buying or selling your house though, it’s an important concept to understand.
Ex-Barfoot & Thompson, Antonia Baker spent over a decade in the advertising industry running blue chip accounts for Saatchi & Saatchi, Draft FCB and Colenso BBDO prior to launching The Property Market.