Auction advice

Discussion in 'The Buying & Selling Process' started by tom mw, 28th Jun, 2020.

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  1. tom mw

    tom mw New Member

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    Darwin
    Hi
    I am looking at a property going to auction, I have no experience at auctions and am receiving various advice from friends but mostly contradictory.
    Can anyone tell me if a successful bid at auction is unconditional or still subject to building and pest inspection or even finance.
    Also, should I register before going to auction.
    Thanks in advance
     
    tom mw, 28th Jun, 2020
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Caveat Emptor

    Unconditional

    You own it and any issues that come with it.

    ta
    rolf
     
    Rolf Latham, 28th Jun, 2020
    #2
  3. FredBear

    FredBear Well-Known Member

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    I'd consider doing that - I've noticed that people watch the registration table closely at on-site auctions, to see who is the competition. Register prior and keep your bidding card hidden until you bid.
     
    FredBear, 28th Jun, 2020
    #3
  4. balwoges

    balwoges Well-Known Member

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    Best advice you will ever be given ... :D
     
    balwoges, 28th Jun, 2020
    #4
  5. datto

    datto Well-Known Member

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    So, you shouldn't flash it around till you use it. Makes sense.
     
    datto, 28th Jun, 2020
    #5
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  6. datto

    datto Well-Known Member

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    "Hey fellow bidders! Look at this number. I'm feeling lucky". lol
     
    datto, 28th Jun, 2020
    #6
    Mark F likes this.
  7. Mark F

    Mark F Well-Known Member

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    I assume you got 8, 88 or 888. It can really cut down the opposition.
     
    Mark F, 28th Jun, 2020
    #7
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  8. TMNT

    TMNT Well-Known Member

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    your friends telling you that auctions are subject to building/finance should be shot and locked up
     
    TMNT, 28th Jun, 2020
    #8
  9. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    pub talk :)

    You should hear of some of the stories that turn up at our guided discovery chats with clients :)

    ta

    rolf
     
    Rolf Latham, 29th Jun, 2020
    #9
  10. Trainee

    Trainee Well-Known Member

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    any of your friends buyers agents, property lawyers, selling agents or experienced investors who have bought at auction?

    no? Why listen to them?
     
    Trainee, 29th Jun, 2020
    #10
    The Y-man likes this.
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