Tag / auction

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  • Should you accept an offer prior to Auction?

    Measuring the potential success of your auction can help you establish whether or not to accept a pre-auction offer. You can tell if your auction is shaping up to be hot by answering these questions about buyer behaviour: Have you had many buyers request information? Have you had a number purchasers request contracts or pre…

  • Auction Day for the vendor

    It’s natural that auction day can cause some anxiety. You can minimise stress by understanding the auction procedure. Here’s how the day’s proceedings will unfold: Before auction day: An auction can happen very fast – so it’s really important you and your agent are clear and agreed on the process of your auction day. Things…

  • Buying a property at Auction Part 2

    What happens the day of the Auction: • the highest bidder is the buyer, subject to any reserve price • the auctioneer is entitled to make one bid only on behalf of the seller • before the auction, the auctioneer must announce that the auctioneer is permitted to make one bid on behalf of the…

  • Buying Property at Auction Part 1

    It is important to understand the auction process and understand the language. Here are a few quick tips: Reserve price – before the auction, the vendor (seller) will set a price with the auctioneer that is the minimum price they will accept. If the reserve price isn’t reached during bidding, the auctioneer will privately ask…

  • Tips for Sellers – Steps to take before Auction

    Unlike private treaty sales, where the price is negotiated between buyer and vendor, auctions move quickly and when the hammer falls the sale is final. In fact the bidding can all be over within a matter of minutes. At auctions, the property is sold to the highest bidder and there is no cooling off period.…

  • Tips For First Home Buyers – Know the different types of sales

    There are different ways to buy property in NSW. Knowing the difference between these and the different conditions will make the process easier. Private Treaty A standard residential property transaction is known as a Private Treaty sale. This is when the vendor, or home owner, sets the price they would like to sell their property…