Yes sunnydonkey, the asking price I should have said. Thank you both for your replies.
There is one other property that would be a close comparison. Both properties are 4 bed 2 bath. The other property was sold a few months back by the same auctioneer. The asking price of that house was 260,000 and we were told by the auctioneer that property sold for the asking price. I happened to check property price register last night and it was sold for 240,000. Dishonest Auctioneer!!
The property we are interested in has an asking price of 290,000, which, as I said seems a bit much. The house we are looking at is slightly bigger, it's finished inside, the outside is not finished. The first floor is concrete built. The rooms upstairs are quite small apart from the main bedroom. The boundary wall is not complete, the back lawn and yard are not done and there is no garage/shed. The other property is completely finished inside and out and is more private and all rooms are a good size. First floor not concrete.
I know I might be veering off my original question, but does the asking price of this property seem way too high. The auctioneer said that the vendors would not come down much as they are in a comfortable position. Not sure if he is bluffing.
Thanks
Ruby