Once you’ve found “The One”, being prepared and confident for auction day gives you the best opportunity to be the successful buyer. This includes:
When bidding and buying in an auction setting there are no conditions to the contract of sale. It is imperative you complete all of the above items before auction day as once the hammer comes down, you are committed to buying the property!
To buy at auction you must BID! You can register to bid either before the event or on the day. You will need identification with you – a drivers licence or passport is ideal. You will need a paddle which our team will supply.
When you decide you are interested in bidding, ensure you make this known to our team. Having your presence known means we can communicate and help you with an auction strategy in the days leading up to the event. This ultimately gives you the best chance at securing the winning bid.
If your bid is the highest taken by the auctioneer and is above the vendor’s (sellers) reserve price you will be successful in purchasing the property.
If your bid is the highest taken by the auctioneer but hasn’t reached the vendor’s reserve price then the property will be passed in. You, as the highest bidder, will have the first opportunity to buy the property upon negotiation exclusively. The auctioneer will clearly announce when the property is on the market and is going to be sold.
Purchasing at auction is a very exciting process. The whole team from Ray White Indooroopilly are here for any questions that you might have on or before the day and are here to support you in every step of the auction process to ensure that you are bidding with confidence.