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

| February 18, 2018

We Are An Audited Publication. Advertise With Us.

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.

Related Posts

Subscribe to our newsletter. It's free!

You may also like:

AUSTRALIA DAY 2018

CELEBRATING NEW CITIZENS AND AUSTRALIAN VALUES

CANVA DESIGN: AUSTRALIA’S NEW BILLION DOLLAR BABY
India’s Diplomatic Relations in Australia
India’s Diplomatic Relations in Australia
Indian Restaurant in Melbourne
Desi Dhaba Indian Restaurant: A slice of Indian Food in Melbourne
Iphone X, Google Pixel 2, Google Pixel 2 Xl Arrive At Telstra
iPhone X, Google Pixel 2, Google Pixel 2 XL Arrive at Telstra

Submit a Comment

More in Australia
Punjabi Speakers in Australia
PUNJABI TOPS ALL OTHER INDIAN SUBCONTINENTAL LANGUAGES IN 3 AUSTRALIAN STATES

The most recent census figures make for interesting reading, especially if you are of Punjabi descent. Punjabi emerged as the...

Close