Real Estate

Lots of ways to improve your chance of auction success

THERE is no doubt about it, property auctions can be intimidating, says John Owsnett, principal of Chambers Fleming Professionals Padstow.
You have your heart set on your dream home, but others probably do too.

However, John says there are ways to improve your chances.
He suggests putting in place a rigorous plan that includes doing your homework, setting yourself a strict financial limit and understanding that if if doesn’t work, there is always next time.
“Much early work involved in buying a property can be done online,” he said.
“Research the area where you want to buy and the type of home you want and you will get a fairly accurate estimate of going prices.
“Enlist the agent’s help as well, because they will know how local properties are performing.
“Let the real estate agent know you are interested in a property by registering early.
“And don’t leave it until the day of the sale because you might just miss out.
“Some properties are sold prior to auction and if you haven’t declared your interest, then who will know what you had your heart set on.”
If the whole notion of an auction is too scary and you would rather let a friend, a buyer’s agent or a solicitor to do the bidding for you, then remember you must give the auctioneer a written authority before the auction starts.
This must include your name, address, details and proof of your identity such as driver’s licence or passport.
For further info, give John a call on 9771 4555.