Are you all done? SOLD. We love auctions. We love charity auctions in particular, where you raise lots of money for very worthwhile causes. Whether you should sell your property by auction demands serious and thoughtful consideration. Your property generally has to be different, unique, unusual, in strong demand to constitute an auction. Perhaps you have a waterfront property, or a Federation, Victorian or Georgian home. An auctioned property has to be able to enthuse and excite people to bid competitively to reach the best price the market will pay. If you own a property where there are many look-a-likes with readily identifiable established prices, you wouldn’t normally sell by auction unless it was an estate.
If you choose to buy at auction, preparation is the key. Ensure that finance is approved and also investigate the structural integrity of the property beforehand. If you feel hesitant about bidding, don’t hesitate to call a friend, another real estate agent you know or a solicitor to help you. Auctions can definitely be exciting and fun AND they have been around since the Roman days.
The Auction method should also be in the range of selling methods agents offer. If not don’t employ them. Please get expert professional advice before you sell or buy at auction! Our Director Hank Petrusma has been a highly respected, experienced Auctioneer for 45 years.