Page 12 - Luton Properties eBook 2018

YOUR Plan

GAME

With auctions becoming the preferred sale method for many,

understanding what’s happening and having a game plan before

the auction can help to keep you focused and in control.

But buying at auction can seem so to go to the auction confident there is no

daunting – should you bid early? Will reason the property will sell for $25,000
you know what the reserve is? Really, more than your research told you it
none of this really matters as the highest would the day before.
bidder will ultimately buy the property
but there are ways to increase your STICK TO YOUR BUDGET

chances of winning – and winning with a Once you are at an auction – and you are
bid you have confidently made. tired of looking for a home, week after

week - it can be difficult to keep calm
BE INFORMED and stay within your limit. It’s easy to

Talk to the real estate agent and gather get caught up in the moment and end
as much information as you can – find up in a bidding war. Set your limit before
out how motivated the sellers’ are, if the auction day – discuss it all the with

there has been a lot of interest in the your partner and know what you can
home, what feedback has come in from comfortably afford – and stick to it.
other buyers. Hit the research button on One suggestion is to write down your
the real estate web sites and see what limit on a piece of paper and keep that

recent comparable sales have been in paper in your hand at the auction as a
the suburb and talk to the neigbours visible reminder of what you can afford.
– they often have a good idea of sales If buying as a couple, another idea is to
results in the area. Do enough research have one of you as the bidder and the

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