Hi! With auctions growing in popularity in recent years in the outer suburbs, I would like to know how one goes about arranging finances to be in the best position on Auction day. For context, I have only purchased via private sale in the past. When buying via private sale I have always added the clause "subject to bank approval..." and it's always been a "big 4" bank. Normally I'd sign the contract, and then bank would do their valuation and the loan goes through without issue. Although I am pre-approved for $x amount of dollars, and have in excess of 20% of an expected auction sale price, the bank is unable to complete a valuation without signing a contract. Catch 22. It would be helpful to hear how people bid confidently at Auctions knowing a bank / mortgage broker are behind them.