Selling guide
Selling at auction in NZ: what you need to know
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AI summary
Selling your property at auction offers a fast, legally binding sale with unconditional bids. This method encourages buyers to focus on their maximum price, creating the potential for a bidding war that can drive up the final value.
You'll work with your agent to set a confidential reserve price. If this isn't met, you can negotiate with bidders or the property is "passed in". An auctioneer's fee applies, and attending the auction is recommended to make key decisions.
The advantages of selling your property at auction
Selling at auction: how to prepare
You'll need to confer with your real estate agent about setting a reserve price for the auction.
Do I need to attend my property auction?
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