New Home Buyers Hot Tips Part 24: Tips to Bidding at Property Auctions:

New Home Buyers Hot Tips:

Part 24: Tips to Bidding at Property Auctions:

K) Some people have put in a preauction bid to buy the property so that they won’t have to go through all the hassles of bidding at an auction. Sometimes I have seen this work where the vendor does actually accept the bid. I have also seen where this offer then becomes the opening bid at the actual auction and change the date on which the auction will be held. What has been happening is the auction dates are being brought forward. This is also another tactic as it means not as many people will get to see the property as the advertising might have only been going for a week. My personal thoughts are that preauction offers tell the owners what you are prepared to pay for the property. The property market is really hot and busy in Auckland at the moment.