Below is a checklist of tips to assist you with purchasing at an Auction:-
Do your homework
- Prior to the auction the first step is to talk to Just Us Lawyers regarding pre-contract advice. Our experienced team of Conveyancers and Solicitors will be able to advise you of the contents of the draft Contract.
- Investigate and undertake as many property searches which you think would be relevant for the property. Searches to consider would be Council Building Approvals, Qld Building and Construction Commission, Flood Enquiry, Main Roads, Planning and Development, QCAT Tree Register, Transport Noise Corridor and Contaminated Land just to name a few.
- Organise a building and pest inspection with a licensed building and pest inspector to check that the property is structurally sound and is free of termites.
- Be sure to attend the property viewing prior to the auction and compare the property against similar ones in the surrounding area.
- Express your interest to the agent if you are prepared to bid on the property and request to be notified of any offers made prior to the auction.
- Before the auction it is important that you establish a bidding limit for yourself. You should consult your banker or mortgage broker prior to attending the auction to discuss your financial situation. It is important that you do not get carried away on the day and bid beyond your means.
With this forward-planning and assistance from the Conveyancing team at Just Us Lawyers you’ll be well on your way to success at your next auction.