This can be a daunting process for first-timers, but we are here to help.
In this marketplace, an auction is a common process.
On the plus side, it ensures all buyers are given fair opportunity to buy. Negotiations are open and you know you’re dealing with sellers are looking to sell on the day.
Once the auction is final, if your bid is successful, this means the property is yours with no further negotiations and the contract is signed then and there.
Do your homework
- It is important to have your finances organised ahead of the auction date as sales by auction are unconditional.
- Do your due diligence. Inspect the property you want to buy and if necessary arrange for a builder or tradesperson to assess any concerns.
- Check the auction documents thoroughly. If you’re unsure, seek advice so you are fully prepared and informed: with all of the details and conditions of sale, as well as possession date, balance of payment, chattels, etc.
This can be a daunting process for first-timers, but we are here to help.
In this marketplace, an auction is a common process.
On the plus side, it ensures all buyers are given fair opportunity to buy. Negotiations are open and you know you’re dealing with sellers are looking to sell on the day.
Once the auction is final, if your bid is successful, this means the property is yours with no further negotiations and the contract is signed then and there.
Do your homework
- It is important to have your finances organised ahead of the auction date as sales by auction are unconditional.
- Do your due diligence. Inspect the property you want to buy and if necessary arrange for a builder or tradesperson to assess any concerns.
- Check the auction documents thoroughly. If you’re unsure, seek advice so you are fully prepared and informed: with all of the details and conditions of sale, as well as possession date, balance of payment, chattels, etc.