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Professionals Armadale Real Estate

19/193 Jull Street Armadale




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Strategies for surviving an auction

26 Nov 2015 Armadale 0 Comment

Our top four strategies for bidding in an auction are:

Investing in the right property can be a long process and taking the current property market into account is essential.

We advise vendors to consider the following factors:

  1. Establish why you’re buying the property – investment or to live in (either now or at some point in the future)?
  2. Make sure you understand the real value in the current market
  3. Ensure you factor in future interest rate rises. Can you pay the mortgage if interest rates rise another 4-5 per cent?
  4. Look at your current financial status

In a heated market (as it currently is), it’s only a matter of time before property prices will correct; the only questions are when and by how much.

Having a buyers’ advocate represent you at an auction can often lead to a better outcome. They’ll make sure you get the right property for an appropriate price and make your purchasing easy and stress-free.

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