Selling guide
Selling at auction in NZ: what you need to know
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AI summary
Selling your home by auction in New Zealand offers distinct advantages, including receiving unconditional bids, which creates a legally binding sale. The confidential reserve price can attract more buyers, who focus on their maximum budget rather than negotiating down, potentially creating a bidding war.
The process is fast, typically following a three-week marketing campaign. If a pre-auction offer is accepted, the auction is brought forward. If the property is "passed in," you can negotiate with the highest bidder.
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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