Melbourne’s spring selling season has kicked off with fierce competition between buyers and soaring auction clearance rates in recent weeks.
Agents are reporting big crowds, serious buyers, strong clearance rates and rising sale prices as first home buyers hit the market with force, investors return, and rising house prices ignite market activity across all sectors.
Let’s explore ways you can make bidding at auction less stressful and more successful!
1. Research similar properties and be confident that you have a good sense of what the property you are bidding on is worth.
2. Get your building and pest inspection report before the auction.
3. Get loan approval from your broker or lender prior to auction.
4. Have your legal representative check the sales contract (COS/S32) before the auction.
5. Know your figures inside and out, and don’t continue to bid once you hit your budget limit.
6. Discuss what deposit is required with the sales agent before auction day.
7. Ensure you have the deposit accessible for payment ON auction day.
8. Take photo ID with you and obtain your bidder’s number before the auction starts.
9. Stand where the auctioneer can see you and hear your strong and confident bids clearly.
10. And if you still don’t want to bid yourselves, ask about our bid at auction service – our professional buyer advocates can save you time, stress and money!
And lastly, remember that you will win some and lose some. If you aren’t successful this time, there is always another home out there that is meant for you.
Chat to us about how a property advocate can help you sell or buy in the current market with confidence. Investment buyers can receive invaluable support and guidance through our Buyers Advocacy Service, and for landlords who are selling, our Vendor Advocacy Service helps vendors achieve outstanding results.
To book a free 20-minute consultation, simply click here and choose a time convenient to you.
