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Tips for buying at auction

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Many buyers are unnecessarily frightened of auctions. The drama of the deadline, the patter of the auctioneer and the crowds competing to bid can be intimidating to newcomers. But if the property you love is for sale by auction, it pays to be prepared. Here are some tips to help:

  • Attend as many open for inspections as you can before the auction.

This will ensure you really know the property and give you an understanding of the level of interest in it and the competition you’re likely to face on auction day. It also pays to attend a few auctions of properties you’re not so interested in, to get into training for the day.

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