Brenton Ward Real Estate
ABN 57 501 064 871
Phone +61 412 348 212
Fax 61 08 8333 3069
Registered Agents, Auctioneers, Property Managers, Trainers. RLA
PO Box 3150 Norwood 5067
Obligation Free Appraisal - Find Out Your Property $$$
for buyers and sellers
& LEGAL MATTERS
Copyright © 1998-2008
HOW TO BUY AT AUCTION:
TO BE A SUCCESSFUL BUYER AT AN AUCTION THE FOLLOWING PROCESS
SHOULD BE CARRIED OUT.
- Before auction, check the
contract details and settlement date with the agent. Organise your finance,
if you intend to obtain a loan from a bank, credit union or other lender
contact them as soon as possible. With adequate notice most lenders will
approve your finance prior to the auction. Determine the price that you are
going to pay. Check the time and date of the sale so that you do not arrive
too late to bid.
- When bidding:
Position yourself where the auctioneer can see you.
You may nominate the amount of the bid by calling out.
You may bid by rising your hand or nodding to catch the auctioneers
Stay alert to ensure you know when to bid.
- If you are the successful
bidder for the property you are required to sign the contract and pay a
deposit of 10% of the purchase price (your personal cheque is acceptable).
- It is important that you
finish as the highest bidder as you will either win the property by the fall
of the hammer, or if the bidding does not reach the reserve and is passed in
you will be told the reserve price and be given an opportunity to negotiate
with the vendor immediately following the auction.
Your auctioneer will be happy to answer any question prior to the auction day
or on site prior to the auction.