To buy at auction… or not to buy at auction?

Posted in Uncategorised June 24th 2018

When it’s time to bid at auction, should you put your best number first… or not?
We often hear that there is much fear from buyers surrounding the auction process. If you do have fears, butterflies, doubts or whatever you want to call that uncertainty, it’s time to take charge rather than miss out on buying a great home for you and your family.
If this uncertainty is in any way making you question whether you will look at a home that offers everything you have been searching for, but has been presented to the market by way of an auction campaign, it’s time to speak with your agent who can guide you through the process.
At Hayman Partners, we have highly skilled, tried and tested, and nationally recognised for best practise Agents and Auctioneers who are available at any time to be your personal property partner every step of the way.
Some Agents will advise you to ‘hold your cards close’, others will suggest you ‘step up to the mark with confidence and bid your best number’.  Whichever strategy you are most comfortable with, you won’t truly know what will work best for you until you are there on auction day, registered, ready to bid and with all your ducks lined up in a row.
But what does this really mean? What are the ducks in a row you may be asking?
It’s about being 100% prepared and fully briefed on what’s involved BEFORE you to raise your paddle when the Auctioneer calls: “Ladies and Gentlemen, I’m now calling for an opening bid or offer, who would like to start the auction?” (…as they look straight at you).

Pictured: Martin Faux, Auctioneers and Luke McGuinness, Penciller
So make sure you:

  1. Have a copy of the auction contract and sort advise from your Solicitor
  2. Read all the property reports and queried any concerns you may have
  3. Arranged your finance and any valuations required by your Lender
  4. Organised your deposit cheque for Auction day
  5. Discussed settlement terms with the selling Agent
  6. Viewed the property as often as you need to feel assured that it’s the home for you

If you want to have a confidential chat with a Hayman Partners representative so you too can line up all of your ducks in a row, find them here.