NZ Buyers Guide Buyers Guide - Ray White_2019_NZ - single page no | Page 16

04
Buying
Bidding
It can be easy to get caught up in the moment when the auction
is in full swing, so it’s important that you set yourself some limits
and goals.
C
 onsider your top bid while you're in a calm and
rational state of mind and stick to it.
S
 tand right at the front with a good view of the
crowd and auctioneer - ask a question right at
the start to show you mean business.
S
 tart with a strong bid, then increase by
smaller increments.
Record the bids so you don’t lose track.
K
 eep calm and be aware of your body language -
give the impression you know what you’re doing.
I  f you don’t trust your emotions, consider
employing a buyer’s agent to bid for you.
Private treaty sale
A sale by private treaty is a property
listed for sale with an asking price and
has no specified closing date and is
usually negotiated between a buyer and
seller with the assistance of an agent or
legal representative.
Expressions of interest
Similar to a private treaty sale except that
a formal written offer is submitted for the
property by a specific date.
General Information Tender
Apart from in auctions, sellers don’t have to accept
the highest offer. Sometimes a clean offer with no
conditions is preferable to a slightly higher one that
could fall through. There are times as well where
human factors come into play and the seller chooses
an offer they prefer for reasons other than money. A real estate tender is a method of buying a
property through the process of private and
confidential offers made by a set deadline.
Tip
Set your limit as an uneven number
People tend to think in round numbers so it could give you an edge.
For example, instead of $700,000 set your limit to $703,000.
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