Buying at auction can be a fast and effective means of securing your dream property but beware, it is not without danger.
With significant sums of money at stake and emotions running high, property auctions can be adrenalin-charged affairs. A good auctioneer will create a sense drama to proceedings to ensure that punters are primed and the bidding runs hot.
There’s a lot to be said for buying at auction. For starters, you can see exactly who you’re up against and what sums of cash other bidders are prepared to stump up. Auctions are also fast, which can be a big plus for buyers who are looking to move quickly.
There is also the chance that you could pick up a bargain.
But buying at auction is not without danger and unwitting buyers could find themselves in big trouble if they are not careful. The following pointers should help ensure that you can bid with confidence: