Avoca Beach, New South Wales Australia (PressExposure) May 10, 2007 -- Property Auction Tips
New South Wales â 21 April 2000. Nicky Price today launched a new article on More Property Auction Tips. Whether one is experienced with auctions or a first time buyer or seller using this method, there is always something to learn. Many buyers and sellers at auctions are losing thousands of dollars as research on the subject of auctioning is not carried out.
A surprising amount of buyers are losing their deposits placed on properties on a weekly basis. A common reason for this is finance was not approved prior to bidding and buying the property.
Having financial approval from a financial institution is the first step when one decides to purchase a property. Deposits on properties can run into thousands of dollars, therefore a great risk is run losing the deposit if the buyer does not have pre-approved finance for the purchase of said property.
Buyers and sellers can also learn a great deal by attending local on site auctions, prior to their own auction. When ones auction day arrives the buyer or seller has a greater understanding of what or what not to expect.
Another must in the research of auctioning is to keep up to date with the auction market. Local newspapers publish such information and quite a lot of knowledge can be gained by doing this research. Look for things such as properties sold, properties passed in and current trends (if any) using the auction method.
Real Estate Agents hold open houses and inspections prior to auction day. Every potential buyer should attend these open house inspections so it is known exactly what one is buying. Buying at auction is a case of what one sees is what one gets. Local Real Estate Agents have been quoted as saying âAttendance at on site property inspections is a must for any potential buyer. Dream homes can easily turn into nightmares if finance is not available for repairs and renovations that are required for you to be happy and comfortable in your new home.â
The launched Auction Aware blog provides important information for potential Buyers and Sellers at Auction. In particular it covers many âtipsâ for buying and selling right that should not be overlooked including: Building Inspection reports, Finance, Understanding your Agent, Bidding and setting Reserve Prices.
To learn more, please visit the website: http://auctionaware.blogspot.com