Auctions and Bidding: 9 Tips For Auction Day
Avoiding Emotional Buyers is critical if you wish to purchase for the lowest possible price.
If you think there will be a lot of competing and/or emotional buyers bidding at the auction it can be a good strategy to try and buy the property at a fair price before it goes to auction by making a written offer prior to the auction.
Always submit your offers in writing as it shows the agent and vendor that you are a serious buyer. Attach data of recent sales of similar properties (try to find lower priced ones to help condition the vendor into accepting your offer).
Take advantage of our complimentary Comparative Market Analysis (C.M.A.) property reports as these will give you some great ammunition with regard to what is a fair price for the property.
Bear in mind that if your offer is not accepted prior to the auction and the property still goes to auction this can place you at a disadvantage as the Real Estate Agent will now know how much you are prepared to spend.
To counteract this difficult situation we would recommend you engage someone else to do your bidding, preferably an experienced professional.
Contact our office if you would like to talk to one of our "retired" Real Estate Agents that can utilize their many years of Real Estate Auction experience to help you secure your property at a bargain price.
As these professionals are retired you will find their service fees are MUCH lower than buyers advocates that also offer this service.
Download our Free 9 Tips For Auction Day below