17:09 PM, 18th December 2013, About 8 years ago 4
I viewed a property which was up for auction on the 28th of November and did not sell. It was then put onto the market in a ‘modern auction’ which ends in 3 days time.
There appears to be little interest in the online auction which I expect this is due to the £5,000 reservation fee. Based on a property with a starting bid of £44,950 this is an enormous buyers premium.
So my question is; as I viewed the property through the agent, and at this point will not put an offer in, if it is removed from the market completely and I approach the vendor with a decent enough offer to be accepted would I be breaking any laws by doing so?
Or should I wait for a certain period of time before I make an offer?
I look forward to your opinion/advice on the matter.
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