Auctions are high-pressure battlefields where buyers are often caught up in emotion, a sense of urgency or their desire to “win” and end up paying more than they need to. An experienced buyer’s advocate can take the stress and uncertainty out of the auction process, bid on your behalf, negotiate with agents and help you avoid overpaying.
How do you get people to bid at an auction?
Paul has over 30 years of real estate and buyers agent experience and has conducted more than 3,000 auctions. Auction Bidding Service Melbourne will provide an independent market appraisal of the property and will discuss various bidding strategies with you before auction day.
In addition to completing a building and pest inspection, having your contracts reviewed by a conveyancer and obtaining finance pre-approval, if you buy at auction you will be required to pay a deposit of 10% of the purchase price immediately after the auction concludes. The balance is payable on settlement.
Many people feel unable to attend an auction, or are unsure of how the process works so they engage a professional auction bidding service. An experienced buyer’s agent can act on your behalf by submitting written instructions to 1300 BIDDER PTY LTD, including their maximum purchase price limit and any settlement terms and conditions. This is referred to as proxy bidding. This is a legitimate and accepted method of buying property at auction, but it should only be used when the purchaser does not have the time, experience or confidence to bid on their own behalf.