1. Make sure you have reviewed the contract with your solicitor or conveyancer and you are all satisfied with the home after a building and pest inspection.
2. Speak to your lender and ensure you have pre approval and have an good understanding of you financial limit.
3. Ensure you have access to funds to pay the deposit on the day of Auction.
4. Make sure you understand the rules of the auction. If unsure contact your agent in advance of the auction date for clarification.
5. On the day, or before hand you will need tro register to bid. It is a good idea to locate yourself where the auctioneer can clearly see you.
6. Be confident when calling your bid and show your bidders card to the auctioneer. Again if unsure your agent can assist you, aswell as call your bid for you. Dont be afraid to ask for help.
7. When the bids reach reserve the property will sell to the highest biddder. If it doesnt reach reserve it will be passed in and the highest bidder will have the opportunity to negotiate with the vendor.
8. When the property is sold, the buyer will sign the contract, pay the deposit and the contracts are immedaitely exchanged.
9. Champagne is opened and you celebrate.
If you would like more information on selling or buying real estate via auction you can contact Andrew Mansour and the team at First National Real Estate Connect at Windsor & Richmond who have been involved with auctions in and around the Hawkesbury district every month of the year except January since 2005. A massive 15 years plus of experience.