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Tips for winning at an auction

By James Brown

As auctions become more popular nationwide, the chances of you stumbling upon one when looking to buy your own Caboolture property are relatively high. Therefore, being versed in the best ways to approach the bidding process can be useful information to have. 

Going to an auction as a buyer – especially as a first time buyer – pits you against a number of other people in the same boat as you. This means the atmosphere can be competitive, especially if the home up for sale is high value or special in some way.

But the main thing to remember is to stay calm and stick with your budget. There's nothing more crippling than overextending your finances and getting stuck with a mortgage you're unable to stay on top of. Set a limit and bid strategically to remain under this level – and if you miss out, cut your losses and move on. 

Furthermore, when you do decide to bid, go forth with confidence. This can be helped by doing a bit of research into the local market before auction. By understanding the current value of the property, and other similar ones, you'll know if your bids are on track! 

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