Whether you're a first home buyer, a seasoned investor, or somewhere in-between, our top tips will help you navigate the auction process with confidence.

1. Know a realistic value of the property you’re after.

Brush up your knowledge on market trends, recent sale prices, and median values in your desired area, as this information will help you to set a realistic budget and bid strategically.

2. Get Preapproval with us!

Buying property at auction is an unconditional sale, so getting pre-approved finance is vital if you intend to bid at auction.

3. Have your deposit ready and available in your bank as you’ll need it immediately if you win.

Auction sales typically require a deposit (usually 10% but check with the real estate) upon winning the bid, so make sure you have the necessary funds readily available to transfer to the real estate.

4. Set a clear budget and stick to it!

It's easy to get caught up in the excitement of an auction. Determine your absolute maximum bid and don’t go over it, even if the competition is fierce.

5. Attend practice auctions

Going to a few practice auctions as an observer can help you become more comfortable with the process. This first-hand experience can help calm your nerves on auction day.

6. Get your inspections beforehand

Unlike a normal home purchase, an auction contract is unconditional - there is no cooling off period. If you do not conduct an independent building and pest inspection prior to success at auction, you are automatically accepting any undisclosed building faults.

So, if you or someone you care about are keen to buy, upgrade, or start a property investment portfolio contact us today. We’re here to help you with simple solutions to all your finance needs.