Buyers Guide Buyers Guide - Page 15

Auctions The excitement and anticipation of an auction is probably the way most people imagine they will buy a property. The idea of bidding at auction can be daunting or thrilling depending on the individual. Most likely it will be a little of both. Of course, the best way of approaching an auction is to take the emotion out of it, but that’s easier said than done. Preparation Before you get hold of that paddle, it’s a good idea to do some field research. Attend as many auctions as possible to understand how they work and observe bidding behaviour. The experience will go towards informing your ‘game plan’ for auction. Begin taking note of the recently sold prices in your area of choice so you know what price range to expect. Ahead of the auction, thoroughly read the contract of sale and get all of your questions answered by the agent before the big day. Buying You're satisfied that there are no major problems with your chosen property and have explored the local area to ensure it meets all of your non-negotiable requirements. The next exciting step is to think about buying. At this point, there are a few ways you can proceed, depending on the vendor and the advice given by both parties real estate agent. buyer's guide