Going to Auction?
5 Factors to Auction Success
- Purchasing at auction is an unconditional contract, no cooling off period
- Get your building and pest done first as you will be purchasing the property as is and you’ll want to know it inside and out
- Get a bank valuation as this will help you to know how much you can bid and what the property is really worth
- Pre-approval for finance is a must, and preferably a full pre-approval with employment checks and lenders insurance
- Generally require a percentage deposit so you’ll need some cash or a deposit guarantee
A good Mortgage Broker should be able to assists you with these things and also offer to attend the event with you, and help with bidding.
Auctions are a very popular way of selling in this market as they flush a lot of interest out of a property in a shorter timeframe.
Being prepared and having some support there can take the stress out of bidding and mean you don’t miss the property you love just because of the sales strategy…
Any questions please call 0409 647 414
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