Agent majorly underquoting house?
Looking at bidding at auction on my first home. It's in sydneys inner west, and the original price guide was listed at $1.5m, then put up to $1.6m. Based on sales, and the condition of the place, I think this seems WAY under quoted (tbh wouldn't be surprised if it goes for closer to $2m).
Thinking of putting an offer in before auction for maybe $1.75m. But trying to understand why they'd have it quoted so low? To gather more interest? But then maybe it'll be so off the mark that people can't bid as high as they're hoping for?