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.
Pros of making a pre-auction offer
Cons of making a pre-auction offer
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.
Here are some key things that you should know about a property auction.VIEW ARTICLE
We’ve put together our Top Tips to help you prepare for your auction and buy your dream home for a fair price.VIEW ARTICLE
Get home loan pre-approval, be confident and be prepared to walk away - these are just some of the tips we've listed for buying a property at an auction. View the rest here.VIEW ARTICLE