Sell with Confidence
Read More
News

Tips to Know Before Bidding in an Auction

By Matt Hurlston

With the spring auction season heating up, Minister for Consumer Affairs Heidi Victoria has brought attention to some important tips for those new to auction sales.

Before attending an auction, it is best to do research on the market value of the property, she says. Attend other auctions in the area to gain understanding on the price range your desired property may sell for.

If you have a budget, be realistic and try not to let emotions cloud your judgement. Because of the competitive nature of a live auction, it is easy to get caught up in the heat of the moment and make hasty decisions. Unfortunately with an auction, you cannot change your mind once you have bid.

It is important to remember that when you win an auction, you cannot change or add conditions to the contract. Asking for a building inspection or getting finance is a lot more difficult after the close of an auction as these conditions are usually organised before or during a sale.

Don't be afraid to ask questions during the auction. Even during the bidding, the auctioneer can answer any reasonable questions about the property, the contract or the auction.

Those interested in bidding in an auction for Carnegie real estate should speak first with real estate professional Matthew Hurlston at Ray White Carnegie for even more tricks and tips.

Up to Date

Latest News

  • How to Stay Productive While Working From Home

    Article Source: Click Here The hybrid work model has become the dominant trend with many companies allowing employees to work from home part-time while coming into the office on designated days. This new structure requires employees to stay productive in different environments, and finding the right balance between home and … Read more

    Read Full Post