Indian Magazine in Melbourne Australian indian magazine in Sydney indian community magazine in melbourne Indian Newspaper Magazine in Melbourne Indian Magazine in Sydney Bollywood News Magazine Australian indian News in melbourne Image Image Image

Made in India Magazine | October 27, 2020

Why Choose Us We Are An Audited Publication. Advertise With Us.

Select a Page
Scroll to top

Top

No Comments

A GUIDE TO BUYING YOUR HOUSE AT AN AUCTION

A GUIDE TO BUYING YOUR HOUSE AT AN AUCTION
Suby Anthony

In Australia, buying at auction is one of the most traditional ways of purchasing a home. But the method is fraught with many pitfalls, and if you’re not careful, you can end up making a costly mistake.

Auctions make light work of identifying a suitable home and can simplify a long and tedious house hunting process if done the right way. However, the way you bid and buy at an auction requires some preparation – pretty much like an exam. You must have done some market research beforehand and also have some acumen when it comes to the bidding process. Having the right amount of finances is crucial.

Elie Kaltoum, a Sydney western suburbs Real Estate principal, says your best shot at success starts by watching some auctions. Make a point of arriving half an hour before the commencement of the auction to give yourself time to inspect the property and take one last look at the sales documents. You then have to register with the auctioneer, provide your ID and get a number for bidding. The seller usually sets a reserve price which must be reached before the property can be sold at the auction.

It’s also imperative to have finances ready because, unlike private treaty sales where the price is fixed, when it comes to auctions there’s no cooling off period- the winning bidder must settle the contract when called upon to do so.

You may also like:
Australia PR
This is the fastest way to gain Australian PR
Sydney Fireworks
Sydney to proceed with smaller New Year’s Eve fireworks with the 9 pm celebration scrapped
Westpac
Westpac hit with a record-breaking fine – how does it compare to others?
Victoria, Australia
National experts not consulted on curfew
Melbourne Lockdown
Melbourne’s harsh lockdown could end weeks early.

After three days of no cases of community-spread COVID-19, restrictions on weddings and school sports activities are set to be eased

Submit a Comment

    Enquire About Advertising With Us

    error:
    Read previous post:
    CHILDREN SPENDING WAY TOO MUCH TIME IN FRONT OF A SCREEN
    CHILDREN SPENDING WAY TOO MUCH TIME IN FRONT OF A SCREEN

    A study by Melbourne’s Royal Children’s Hospital shows one in three preschoolers now have their own smart devices. Read More

    Close