Buying at Auction can be a daunting process. Here at Galaxy Conveyancing we will guide you through the process and ensure the process is as stress-free as possible. Here are some tips to ensure you are ready to go to auction……
- Contract Review: Contact Galaxy Conveyancing to arrange a review of the Contract for Sale and Purchase of Land. This process allows us to raise any concerns and / or request any changes we see fit – prior to auction. These matters cannot be raised after exchange at auction.
- Do you need finance?: If you require finance, ensure you have pre-approval from a lender. Galaxy Group (link to Galaxy Finance) can assist with any loan enquiries – to ensure that your auction experience is a pleasant one. Be prepared!
- Due Diligence / Inspections: Short on time? Most Vendors going to auction will have a pre-paid Pest and Building Inspection and / or Strata Report that you can purchase at a discounted rate. If you are the successful bidder, you then pay the balance of the fee for the report to be completed in your name.
- Pre-Registration: Register for the Auction. Pre-register with the selling agent – so you don’t miss out!
- Deposit: If you are the successful bidder, you will be required to pay the deposit on the day. If you don’t have a 10% deposit and need to pay a 5% deposit OR with a Deposit Bond, let us know and we can have this approved on review of the Contract.
Happy bidding and remember to stick to your budget!
