The most important thing to have in place prior to buying at auction is pre-approval of your finance. You should also know what your budget is before you bid at auction, and ensure that you have a 10% deposit ready to paid.
Do some research as to what other properties in the same area/street have sold for recently and also ensure you have attended open inspections held by the Agent prior to auction. When in the property, check everything… including the kitchen sink!
It is also a good idea to ask the Agent for a copy of the proposed sale contract and Section 32 Statement prior to the auction and have a licensed conveyancer (Hello, that’s us!) look over these documents for you.
