Selling guide
Selling at auction in NZ: what you need to know
Going, going... gone!
AI summary
Selling your home by auction is a popular method in New Zealand, known for its speed and creating buyer competition. A major advantage is that all bids are unconditional, making the sale legally binding once the hammer falls.
After a short marketing campaign, you set a confidential reserve price with your agent. A strong pre-auction offer can bring the auction forward and become the new reserve. If the reserve isn't met, the property is "passed in," allowing for immediate negotiations.
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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