THE BEST DEALS HAPPEN WHEN THE AUCTION IS OVER
Buying a condo through an auction is not always the way to get the best deal, according to a study by economists at Princeton University and MIT.Skip to next paragraph
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They report that the biggest discounts can be found after the auction, when remaining properties sell for an average of 13 percent below auction prices. According to their study, the researchers say "the optimal strategy ... is to make a purchase well after the auction has begun and, ideally, after the auction has been completed."