Open2View.co.nz

[SteveyC]

Hiya
What do all the abbreviations mean that they have instead of prices, there's loads of them. Some of them have a price and BBO or BEO after them tho, some have tender, can anyone provide a list of what these mean?
Also are auctions as popular here as they are in Australia, I have been watching realestate tv (location location and hot auctions) and it looks like a really exciting way to buy a house.

Thanks very much

Stephen

[moggy]

from http://www.acronymfinder.com/

BBO best bid offer
cant help with the other one

[moggy]

actually there is a key on their website

Tender
Make a formal offer for a property by a set date.

POA
Price On Application

Auction
A public sale of property in which prospective purchasers bid until the highest price is reached.

MWP
Marketed Without Price

PBN
Price By Negotiation

BEO
Buyers Enquiry Over

BBO
Buyer Budget Over

[SteveyC]

Cool, top tips, where's the key, I couldn't find it for tofee.

[moggy]

I still don't understand what the last two are though, anyone got any idea?

BEO: Dont come knocking unless you're offering more than we're asking...

BDO: Same as above but you better have the cash as proof to back up your offer!

[drphred]

That's the most frustrating thing about NZ realestate sites: the lack of prices listed! You do a search in your price range and 90% of the resaults are not priced and come back no matter what price range you search for!

So true.. try searching for a $10,000 shoebox in the middle of a field with ensuite puddle, and you get $1.9million dollar mansions in your price bracket!

[Propertytallk]

Real Estate Agents push for the Auction as they make money on representation as well as the sale.

And in my opinion auctions are not necessary the way to go either. In NZ where volume of buyers is not always available especially if your property is not at the volume end of the market the vendor (seller) can on the day of the auction be pressured into accepting an offer they are not entirely happy with.

Of course the Estate Agent says there's no pressure but of course there is - an offer is on the table it's below the reserve but with the Agent wanting a commission it's hard not to feel the pressure to accept an offer lower than then you actually want.

Cheers,

Donna