How to buy before auction day

How to buy before auction day

Auction day is always stressful, especially if you have already set your heart on buying the property. Great properties in better suburbs often sell before auction, so how can you secure that perfect property before the big day?

Know what you’re looking for
A defined plan means you are more likely to find what you want. If you have too many options, you might never make a decision.

Know what you’re buying
Once you’ve found your property, a building and pest inspection is imperative to ensure that there are no hidden problems you will have to repair down the track. These give you a clear idea of any works that you need to add to your budget.

Get pre-approved for finance
Buyers can spend months looking for properties only to have their mortgage application knocked back. If you get pre-approved for finance and tell your bank or mortgage broker the type of property you want to buy, there should be no surprises down the track.

Make an offer
In order to buy before auction, you have to make an offer. Unconditional offers are always appealing to Vendors, as they are serious. To ensure yours is accepted, you will need to have a conversation with the agent to discuss the Vendor’s expectations.

Silent Sales
Not all properties get advertised on the market. Some Vendors need a quick sale while others may not need to sell but are open to offers. The better you know the agent, the more likely you will hear about silent sales, as agents often take a property to their closest contacts before the public.

If you are thinking of buying a property, please don’t hesitate to contact Blackwood & Belair Conveyancing to discuss.