even the word ‘auction’ makes some peoples skin crawl, but why?
to the minority it’s actually a brilliant opportunity to secure the home of your dreams at a price you feel comfortable with.
whichever way you look at it, buying a home is scary stuff – be it by for sale or at auction so i must ask the question then, wouldn’t you prefer to be in a situation where you know what everyone else is offering?
maybe its the urgency and build up of an auction that makes it so overwhelming, that as soon as the ‘hammer’ falls the sold sticker goes up and you get your cute photo for social media – but wouldn’t that be the ideal situation?
naturally there are personal limitations that come into play such as having the ability to obtain pre approved finance that will allow you to bid at auction, but most good brokers these days should be able to get you in a position where you can bid with confidence. so now we’ve sorted that out, what else is stopping you?
know your limit, stay in control & if it goes way above what you were in a position to pay then at least you can go to bed knowing it wasn’t a matter of $1000 or $2000.
do yourself a favour and start going to auctions just to get familiar with the process, and even better get friendly with an agent who can guide you through hand even help you price properties and get an idea of what price you should walk away at (we don’t all bite)
learn to love it, & consider yourself lucky that we don’t live on the eastern seaboard because you’d have no choice over there.