Property Buyers Auckland Have Tips For Selling Your House at Auction

Hadar Orkibi of Property Buyers Auckland has some tips for selling your house at auction, and one of the benefits of selling at auction is that you will attract genuinely interested buyers. Inspections and finance must be organised before auction day, which ensures only serious buyers, will show up to bid.

 

Before the auction your agent should walk you through your marketing plan in detail, from the images that’ll be selected and advertised, the copy that will be included, to where the property will be advertised (online, papers, brochures, in office). Before you go to auction, you should expect to hear from your agent on a daily basis and a face-to-face meeting around once a week. Your agent should also be keeping you well-informed of the market, so that you can make the best decision come auction day.

 

Hadar recommends people attend their auction (if they are in the country), as it is great to have you there if there are any last minute questions. Some common ones buyers ask are: “Can we vary the deposit amount?” or “Can we vary the settlement date?” Your auctioneer will also want to confer with you depending on how the auction is going. If bidding stops below your reserve price for example, your auctioneer will want to discuss next steps with you.

 

Your auctioneer will want to know all about the interest the property has received. They’ll ask your real estate agent detailed questions about it. How many inspections have there been? What kind of interest has the home received? Have any valuations been done? Any building/pest inspections? Does the building’s age suggest a dampness or infra red test for water damage be conducted? Is the property fibre ready?  

 

It’s important for people to understand and be clear on what their reserve price is, and how it’s used during the auction, and their auctioneer should be able to explain this to them in detail. The auctioneer should be working to ensure you get the best price possible for your property, and should be aware of the figure you’d be very happy to accept, the figure you’d be okay with based on the feedback you’ve received and your ‘grumpy price, the figure the one you wouldn’t be thrilled with, but given market conditions, you're prepared to unhappily sell at that price.

 

Remember, at all times during an auction, you’re in control. If a bid is high enough take it. If not, don’t. But the reason for not taking the offer needs to be greater than the reason the home is on the market in the first place.

 

For more information on Property Buyers Auckland and private house sales please go to https://propertybuyersauckland.co.nz .