Considering bidding at auction? It is important to bear in - TopicsExpress

Considering bidding at auction? It is important to bear in mind that the fall of the hammer is final. That means it is crucial to ensure (amongst other things) that you are comfortable with the condition of the property, the status of your finance approval, and (of course) the value of the property. In relation to the value, some agents have been disciplined for underquoting. To provide an intentionally low price guide to build up numbers for an auction is illegal. To protect yourself, do your own research into the area where you are looking, and make sure you set yourself a bidding limit for every auction.

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