At Ray White The Entrance, our team will guide and prepare you for the bidding process at Auction. We have compiled our Auction tips below.
- Arrive at the Auction early and register your interest to bid. The agent will ask you for your full name and details as well as some photo id.
- The Auction commences. Often when the auctioneer asks for an opening bid everybody waits for each other. Being the opening bidder clearly signals your intention to purchase the property and lets other bidders know that they will need to act. It can pay to be bold.
- Be clear and confident with your bids. This will show any other parties that you are genuine and determined to buy the property.
- Pay close attention to the agent and auctioneer. They will keep you informed and let you know when the property is “on the market”.
- Your best chance to buy the property is under the auction conditions as at Auction as the seller is committed to the sale.
- Should you be successful in purchasing on the day, you will be required to pay a 10% deposit (unless otherwise agreed prior to auction) and sign the contract. If you are bidding over the phone, the auctioneer can sign the contracts on your behalf if the proper written authorisations are arranged prior.