Buying guide
Buying by auction
Property auctions move quickly, so it's best to go in prepared. Here are some tips from the team at Settled.govt.nz
AI summary
Buying at auction is a fast-paced, unconditional sale. It's crucial to prepare thoroughly by researching the property, arranging finance, and having a lawyer review all documents before you bid.
Winning an auction is a binding commitment, and you must pay the deposit on the day. The seller's secret reserve price must be met for the property to sell. Some properties allow pre-auction offers, so register your interest with the agent to stay informed.
Summary of important things to know:
Identifying properties for sale by auction
Before the auction
Auctions can be high pressure environments, so it's good to know what to expect
At the auction
After the auction
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