Quote Originally Posted by Debbie
Do agents always list that the price as BBO or BEO in the ads next to the price (if it applies) or do you only find this out when you make enquiries. From reading this thread and the suggested links it seems that most houses have the BBO or BEO and yet we are not seeing it in the net ads, are we looking in the wrong place?.
Debbie,

Many properties dont have any prices on them. In that case - all you really have to go on is the GV/RV (Government or rating values). Thats the value on which the rates are worked out.

The Prices are set as:

BBO/BEO
GV / RV - well yeah - but how does that help - it may have been from 2-3 years ago, and still doesnt tell you how much people want for the place.
A Set Price - my prefered option - tells you just what you need to know.
Or No price as its going for Tender or Auction.

If the ad says tender or auction - your only way of getting a guide price is to phone the agent and try and get a number out of them. I found that this was in no way helpful - even if they did tell you a number. Often they are trying to just get you interest with a silly low number which the seller would never accept adn is often nothing like what the agent told the seller the house was worth.

Thats why we got a valuation before we made an offer. This place was advertised with a price (I stopped going to see houses without prices). They wanted $650K, but the valuation came in at $606. So we knew ahead of time that if we could get it at that price - we would not be overpaying.

You do also have the option of getting reports of sites like QV and Terranet. They can sometimes tell you what the house last sold for, as well as giving you heaps of other useful info about the house and the area.