Auction Bidding Service Melbourne

Bidding is an auction style process whereby buyers compete to purchase goods and services. Auction Bidding Service Melbourne is commonly used to buy property but can also be applied to livestock, luxury goods, art and vehicles as well as government contracts and financial instruments.

How to make a bid for an auction?

Whether you are a first home buyer or seasoned investor, it is critical to understand the complexities of buying property at auction. If you are unsure, it is highly recommended to engage an experienced Buyer’s Agent to act on your behalf. At Murphy Jacobs Property Advocates we offer a comprehensive Auction Bidding Service that will ensure you are not ‘gazumped’ by other bidders or overspend on a property.

Auctions are a fast-moving and often emotional process, so it’s important to be well prepared. Prior to attending the auction, take time to write down a list of your must-haves and establish a realistic budget limit. This will help you stay focused and make a wise decision in the heat of the moment.

On the day of the auction, arrive early and have one last inspection of the property. It is a good idea to introduce yourself to the agent, let them know you are serious about bidding and review your budget limits again.

If you are the successful bidder at auction, you will need to pay your deposit and sign a contract immediately following the sale. This means you must be financially ready and have your legal advice in place. This is especially important as there is no cooling-off period for properties bought at auction.

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