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Cnr Illawarra Cres North & Alexander Drive Ballajura

08 9249 6888

08 9249 6085

info@grangerclark.com.au

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Auction Tips: On the Day

27 Jan 2015 Ballajura 0 Comment

Auction Tips On the Day

If you’ve done the research prior to auction day, you should feel confident that, when the time comes, you will be a strong bidder without overextending yourself financially. Having said that, there are a few things to keep in mind that will help get you through an auction day. Granger Clark, the regional experts in houses for sale in Perth, suggest the following:

Register

Those seriously interested in a house for sale in Perth may have to register their intentions at an auction. Bring appropriate ID, such as a driver’s license or a passport, to ensure you aren’t left out of proceedings. Registering intent is in no way an obligation to bid, so there is no need to feel pressure to do so.

Keep Calm

It is wise to arrive early on the day and find a good vantage point. This is one that allows you to watch other bidders and their reactions. Reading the room in this manner may give you an idea of how much higher other bidders are willing to go and save you from an excessive bid. If you aren’t comfortable bidding, consider using a family member, friend, or a purchasing agent as a proxy. Remember that a successful proxy bid is legally binding in the same sense as any other.

Bid Confidently

When you bid, ensure that you deliver it loud and clear. This not only makes the auctioneer aware of your intent, it can also give you an advantage over competitors who may not be so confident.

Know Your Limit

Having a limit is one thing, sticking to it in the heat of the moment is quite another. If the bidding reaches your limit and there is still plenty of interest and little sign of slowing down, there is no benefit in continuing. You can always walk away (literally) if you find it difficult to be a bystander rather than a bidder. Knowing and sticking to your limit will obviously feel brilliant if you secure your dream house, but will also be of solace if you are unsuccessful. Remember, there are other houses for sale in Perth and you haven’t overstretched yourself financially.

A Winning Bid

If you are successful with your bid, you are expected to pay the deposit (bring your cheque book), which is held until settlement. Maintain close contact with all relevant parties to arrange insurance cover and early access to the property if required. Most importantly of all… Congratulations, you’ve turned a house for sale in Perth into a house you own in Perth!

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Professionals Real Estate
Cnr Illawarra Cres North & Alexander Drive Ballajura, WA 6066
Phone: 08 9249 6888 Fax: 08 9249 6085 Email: info@grangerclark.com.au