Auction Day Tips To Secure Your Dream Home and Avoid Emotional Buyers
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.
Request your Free CMA Report Here
If you fail to secure your dream home prior to Auction then our Auction Day Tips will help out.
Auction Day Tips:
1. Remember that the auctioneer is employed by the seller
The Auctioneer is employed to get the best possible price for their property.
Good auctioneer’s are able to encourage buyers to enter the bidding early, keep things moving fast with excitement and even force buyers to bid higher than they intended.
2. Try to look disinterested
This is the best approach if at all possible as this may help encourage the seller to lower their reserve.
3. Don’t bid early!
Wait until the reserve price has been reached, before bidding as a lack of interest can confuse some bidders and may also force the seller to drop their reserve.
4. Change the increments of the bids
Changing increments of bids away from the auctioneer's chosen amounts can intimidate other bidders and shows you have a strategic plan and are confident.
Wishing you luck on Auction Day!
Download our 8 Tips For Auction Day
About Darryl Simms
Darryl Simms specializes in helping individuals invest in property for less than a latte a day, reduce their tax and create enjoyable lifestyles.
As the Founder of Latte Property, Darryl willingly shares his extensive knowledge built up over the last 25 years to help clients create wealth through property investment.
Latte Property has a large following of successful property investors who have enjoyed professional guidance in the purchase of quality new apartments, new townhouses and new homes.
Darryl is also the Author of “50 Must Know Property Investing Tips” and is currently busy writing his next Property Investment publication.
Darryl’s favourite quote is:
“Try not to become a man of success, but rather try to become a man of value” – Albert Einstein
Contact Darryl at www.latteproperty.com.au/ask-darryl
Written by Darryl Simms - First Published on Linkedin Pulse