Professionals Armadale Real Estate Our top four strategies for bidding in an auction are:
- Remain cool, calm and collected
- Put on your best poker face
- Don’t be scared to directly look at your bidding competition
- Call out your bid in a strong and clear voice
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:
- Establish why you’re buying the property – investment or to live in (either now or at some point in the future)?
- Make sure you understand the real value in the current market
- Ensure you factor in future interest rate rises. Can you pay the mortgage if interest rates rise another 4-5 per cent?
- 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.