Buying Property At Auction: How Do They Work? 🤷🏼 (Australia)

Buying property at auction: how do they work? (Australia) // So you’ve found the property you want to purchase, and it’s coming up for auction soon, but you’ve never been to one before & don’t know what to expect, or how they work! Don’t stress! Watch this video where we go through the process of buying property at auction - the key requirements, things you need to understand, and a few cheeky bidding strategies for the big day.

0:30 How do property auctions work?
1:35 What do i need to do before bidding at auction?
2:39 What are some auction tactics?

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[Lendiau]

Thanks for watching! Have you attended an auction before? And did you find it an exciting or nerve wracking experience? Let us know why in the comments below 😊

[tusen]

Please give me advice
Do I really need a building inspection before the auction?
If there 20 people in the auction. 20 people actually do the building inspection?

[stanleyhu]

raising a 10, 000 bid at 500 increment? you are not creating an illusion, you do have deep pocket.

[andyandys]

in general, how long does it take for a lawyer to review the contract? if say the auction is in 7 days time...
also is it ok to buy the building and pest report from the link the agent give you... or better to arrange that with my own lawyer?

[stefanoagostino]

That info doesn't help me as the seller