property being sold by receiver

If a residential property is being sold by a 'receiver', is it likely that they will be more amenable to accepting a lower offer in order to get the cash in?

I'm not suggesting that they're going to give anything away - but thinking that they would be more realistic than an individual seller...between that and wanting to liquidate the asset sooner rather than later.

Does this make sense or is it wishful thinking on my part?

I reckon a receiver is duty bound to try and get best possible price. One could argue that unlike some sellers he/she may not be under too much pressure for a quick sale so i think there will be no bargains based on current realistic values.

dewdrop said:

I reckon a receiver is duty bound to try and get best possible price.

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Of course - that's a given.

dewdrop said:

One could argue that unlike some sellers he/she may not be under too much pressure for a quick sale so i think there will be no bargains based on current realistic values.

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Point taken - although the definition of a 'quick sale' is relative. If there is simply no movement in the market (which there isn't) and the property I'm looking at isn't all that attractive (not in a great area - although I can see value in it from my own point of view), are they prepared to sit on it for an extended duration?

I doubt if a receiver would hold on for an extended ;period if the offer made is reasonable in the present circumstances.

dewdrop said:

I doubt if a receiver would hold on for an extended ;period if the offer made is reasonable in the present circumstances.

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Yes, thats the way I was thinking. That property as listed is not going to move any time soon ...unless they drop the asking.

thanks for posting.

Just put in your offer and take it from there.

As Dewdrop pointed out the reciever is duty bound to get the best price but what that means in reality is any one's guess.

There was a very interesting agent on the radio last weekend, she works for buyers looking to get low prices. She put in an offer of 300K less than receiver/bank's estate agent, which was refused. Was told there were other offers which she know was untrue and spoke to bank who didn't want to know and later that property sold for another 300K less than her offer. Wonder what was going on there, it's not unheard of for 'agent's' to 'drop' property to friends etc. Pity the poor house owner at the mercy of banks and agents.