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Ray White One Group is proud to continue the tradition of auctions as an integral part of our fourth-generation, family-owned and led business since 1902. This time-honoured method of sale is one we firmly believe in and have consistently recommended to our clients. Even today, we maintain that auctions are the purest form of selling real estate.
What is an Auction?
An auction is a method of selling real estate where the price of the property is determined by the market in an open forum negotiation, typically occurring on auction day. During an auction, buyers have the opportunity to gauge the interest of others and decide whether to continue bidding based on the perceived value of the property. This creates a transparent and equitable environment for all participants, where terms and conditions are openly disclosed.
View guide
What’s the benefits of an Auction?
Auction offers advantages over private treaty sales. Sellers can expose their property to the entire market and maintain control by only selling if their reserve price is met. Auctions are typically conducted under favourable terms, with unconditional contracts providing security. Unlike private treaty sales, auction requires buyers to conduct due diligence beforehand. Sellers have flexibility to sell before, during, or after the auction.
View guideBidding with Confidence
Prepare yourself for success at auction with these valuable tips from Ray White One Group. Whether you're a first-time bidder or an experienced buyer, following these strategies will help you navigate the auction process with confidence and increase your chances of securing your dream property.
Set a Budget
Determine your maximum bidding limit and stick to it to avoid overextending yourself financially.
Do Your Research
Research the property, including its market value and any potential issues, to make an informed bidding decision.
Attend Inspections
Attend property inspections to assess the condition of the property first-hand and identify any potential red flags.
Arrive Early
Arrive early on auction day to familiarise yourself with the surroundings and gauge the level of interest from others.
Stay Calm and Confident
During the auction, remain calm and confident, and stick to your predetermined bidding strategy.
Calculators
These calculators can provide a better understanding of your financial standing and potential expenses. These are intended as a guide - for personalised insights, reach out to a broker.
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