Seeks to address the problems inherent in valuing a property for sale by auction, both in terms of likely selling prices and in fixing suitable reserves. Considers auction valuations, forced sales, limited time constraints, properties suitable for auction, likely selling prices, the fixing of reserves and special purchasers. Concludes that a valuer who is regularly active in the auction market should be readily able to assess the suitability of a property for auction and give guidance to a vendor client.
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