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Thread: Open2View.co.nz

  1. #1
    SteveyC's Avatar
    SteveyC is offline Right Royal Pain In The Posterior
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    Default Open2View.co.nz

    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

  2. #2
    moggy's Avatar
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    Default Open2View.co.nz

    from http://www.acronymfinder.com/

    BBO best bid offer
    cant help with the other one

  3. #3
    moggy's Avatar
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    Default Open2View.co.nz

    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

  4. #4
    SteveyC's Avatar
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    Default Open2View.co.nz

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

  5. #5
    moggy's Avatar
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    Default Open2View.co.nz

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

  6. #6
    Taffy's Avatar
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    Default Open2View.co.nz

    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!
    Taffy

    The greatest mistake you can make in life is to be continually fearing you will make one.

  7. #7
    drphred is offline Junior Member
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    Default Open2View.co.nz

    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!

  8. #8
    Taffy's Avatar
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    Default Open2View.co.nz

    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!
    Taffy

    The greatest mistake you can make in life is to be continually fearing you will make one.

  9. #9
    Propertytallk is offline Junior Member
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    Default Open2View.co.nz

    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

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