What does 'Reserve Price' mean when buying a property?

Find out what Reserve Price means when you are buying a property. 'What does Reserve Price mean?' plus over 150 other property related terms and jargon in plain English

Reserve Price

The reserve price refers to properties sold at auction and is the price below which the vendor will not sell.

The auctioneer then also sets a "Guide Price", how much they expect the property to sell for.

In reality they set the guide price artificially low in order to attract a larger audience to the auction.

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I'm Tim Hill, Author of How to Really Buy a Property - Now in its 18th edition and completely updated for 2022.

I'm a property buyer, seller, landlord, tenant and I've been an agent in hundreds of transactions. I own a property portfolio across Europe but that doesn't mean I think you should to!

This book is my collective knowledge and experience that I have gained working within the property market of England and Wales for over a decade. I've written it so that you can benefit from what I have learnt whether you are a first time buyer or a budding buy-to-let investor.

There are no gimmicks here and no get rich quick schemes - just practical no nonsense advice so you can buy the property you want in 2024 at the best price with the least stress.

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What's in the 2022 edition .....

Why buying property is right for some and wrong for others;
The state of the market today;
What Brexit and Covid 19 means to the future of UK property;
How the media have become unreliable indicators of the market;
Who makes good quality predictions for the property market (and who doesn't);
How the market works over the short term and the long term;
The difference between property bubbles and property booms;
Why it can be a good idea to buy when prices are falling;
The principles of buying a property to let and what the text books don't tell you;
Ways to get on the property ladder when it looks impossible;
How professional buyers and investors work with estate agents to get better deals;
Why you should see as many Financial Advisors as possible;
What to do before you start viewing so you don't lose your dream home;
Who the surveyor, solicitor and estate agent are really working for;
How to make an offer to get things your way;
Who to trust and who, with the best intentions, may be misleading you;
Why you should work to minimise the time between offer agreed and exchange;
Making sense of a property survey including:
- What type of survey to get and why structural surveys can be money wasted;
- Why surveyors should never estimate the cost of works;
- When rising damp, penetrating damp, subsidence, cracking, sagging roofs, bulging walls and all the other frightening things in a surveyor's report might be serious, and when they are not;
- Why asking the vendor to carry out work is not always a good idea.
Step by step guides explaining what should be happening, what can happen, and how to solve mole hills before they become mountains;
Over 140 terms in an easy to use glossary so the jargon of the property industry can be understood;
20 true stories of successes, and disasters, that real people experienced when buying a property.

.... and what's not in the book ...

Continuous commentary banging on about how great property is and that it is the only place to put your money!
Recommending businesses that I get kickbacks from.
Rewording and republishing what is available freely from most websites anyway.
Endless tales of how easy it is to buy property and profit.
Attempts to sell you some course or other product.
Blank pages and spaced out text to make the book seem bigger.

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What does 'Reserve Price' mean when buying a property?

Reserve Price

Search Results for 'reserve price' in How to Really Buy a Property

There were no results for 'reserve price' in How to Really Buy a Property

Search Results for 'reserve price' in Property FAQ

There were no results for 'reserve price' in Propery FAQ

Search Results for 'reserve price' inProperty Terminology

What's in the 2022 edition .....

.... and what's not in the book ...

Search Results for 'reserve price' in
How to Really Buy a Property

Search Results for 'reserve price' in
Property FAQ

Search Results for 'reserve price' in
Property Terminology