Negotiating at auctions is something that many Australians will have to go through at some point in their lives. After all, the increasing popularity of this sales method means more people across the nation are leaving the price of their home in the hands of those competing for it.

There are a number of tips to help you make the most of your auction experience and ensure you have the best possible chance to secure your dream home.

Take care of your finances

Auctions are an extremely fast-paced sales method. In fact, the buyer needs to pay the deposit for the home once the auction agreement has been signed.This means buyers need to have their chequebooks ready to go on auction day.

As such, having your home loan sorted and ready is essential to your success. Getting in contact with a financial professional early and discussing the various options available to you will aid your preparation and get you ready to finalise a sale as soon as possible.

Don't miss out trying to 'beat' the system

More often than not, people will try and become too tactful for their own good and end up missing out on their dream home. Something to remember is that everyone in the room is there for the exact same reason as you are; to beat everyone else.

Something that can help immensely is to create a game plan for yourself. By knowing exactly how much you have to put towards your dream home, you can enter the auction with your head held high and confident – allowing you to bid with guts and, hopefully, secure your dream home.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.