Perpare For Auction

A number of matters should be given consideration prior to auction day:

- The contract of sale and associated auction terms and conditions

- Your finances being in order as an auction purchase is unconditional

- Discussing the property with a builder, architect or accountant

-  The potential selling price of your own property

- Having a cheque to cover the deposit should you be successful

- Arranging necessary authority if someone is to bid on your behalf

Think about what the property you're after is worth to you, and what you would pay so as not to miss the opportunity to own it it. As there are no conditions, the true value of a property at auction is simply the best price a buyer is prepared to offer.

'It is better to be uncomfortable for a short time that you had to offer more than you would have liked, than to regret forever that you didn't offer as much as you should'

Whilst we recommend clear, confident bids, we are happy to accept bids by any acceptable means that make you feel comfortable.

WARNING: Auctioneers are not required to announce when a property is 'On the market' (i.e. above the reserve) as they do on some of the  television shows. Waiting for such an announcement before you big could cause you to miss out completely.

If a property is “passed in” at auction, this is a signal that the reserve price has not been reached.
The highest bidder does have the first and exclusive right to purchase the property at the reserve price. As such it is important that you be on top of the bidding when the bidding stops.

Should the highest bidder pass up their exclusive opportunity to acquire the property at the reserve price, the agent may then seek offers from any or all other interested parties and with varying conditions.