This strategy is best used when you’ve already done your homework so you have an estimated value for the property. You can do this by checking out nearby properties that were recently sold.
If you’re unsure if this strategy will work to your advantage, we have compiled the pros and cons which can help you decide if you should make a pre-auction offer on a property.
A pre-auction offer when buying a house can be best used to your advantage when you know that the demand for the property is low. This usually happens when there are similar properties up for sale and sellers are very keen to sell their property fast.
Make sure that you do your research about market conditions and get a pre-approval on your home loan before you make a pre-auction offer. You can get started now and see if you qualify for a home loan with us.
Tags: buying a home at auction | pre-auction offer