I thought that underquoting in real estate was supposed to be illegal! So the BFG and I went to look at this property a couple of weeks ago. We were told by the real estate agent what it was expected to go for and yesterday the property sold for $200k more than what we were quoted! This is the one reason why we don't want to go to Auction if we can help it. I really liked it, but the BFG wasn't that taken by it (he felt that it was pokemon small). My reservations about it was that it was across the road from a school. Anyway, luckily we didn't proceed with paying for a house inspection because that is way out of our price range!
I understand that generally it is difficult to see what sort of money the property will eventually sell for but if a real estate agent has been working in the area long enough, I'm pretty sure they would have a fair idea. Man, that really pisses me off.
Anyway, rather than go watch the auction like we had originally planned, we went to see a couple of other properties. We saw two properties which were complete dives and one which I'm in love with but just that little bit out of our price range. Oh well, I guess we're not in any real hurry but I just hate how house hunting just sucks up your whole Saturday. The funny thing is, we did go have a look at two one-bedroom apartments which were for sale in the same block. I suggested to the BFG that we should buy one each. It might make for a better relationship =)