An auction is straight forward only if you understand the process well before the day of auction, which otherwise can be a tricky affair.
Auctions can get you your dream house specially in areas where the competition levels are low or the interest is low. Remember that pre auction offers are always an option.
Remember to register before the auction, most sellers will have set a reserve price (the lowest price they will accept for the property), in case the property is not sold you can always negotiate with the owner for a sale. Always make sure that you set yourself a limit and avoid getting into personal bidding wars which always make you go past your budget ceiling. Do not forget to keep your chequebook with you.
Always check the contract of sale before you bid to ensure that you have the necessary funds to secure a property.
Remember that properties sold by auction have no cooling off period and so you cannot end the contract once signed and hence it is important to inspect the property thoroughly on or before the day of the auction.
Contact us us for further information on how you can secure your dream house through an auction process.
