If you have decided you wish to bid at an Auction, it is recommended that you have pre-finance approval and have developed a good understanding of what the property is worth. Auction sales are generally not subject to finance approval. You will also need to have the amount of the deposit readily available (which is usually about 10% of the purchase price - sometimes it will be a fixed price) to pay at the end of the Auction, when the contract is finalised.

On the day, if you want to buy the property, you must bid! You must make yourself known at the Auction so that your bids can be recognised. All you need to do is raise your hand in the air whenever you want to make a bid. The Auctioneer will then recognise your bid before calling for others. If your bid is the highest and is above the seller's "reserve price" you will be the buyer!

If you have any further queries and would like to know more, please contact one of our friendly and experience sales representatives today.