Oct 15, 2016 01:15 PM
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The latest market still provides opportunities for savvy bidders to purchase property through auction. Bidding at auction can, however, be emotional and stressful. It can be a roller-coaster ride.
There are many different strategies that may give you an advantage on the auction:
Wear a suit to create the value that you have the money and budget to beat the competition.
Park your car(if you have one, otherwise borrow one if possible!) at the front of the property. Stand next to it and create the impression that you have the funds to buy the property.
Position yourself towards the front of the auction near the auctioneer. This gives you a bird’s eye view of your competition so that you can see whom you are bidding against.
Ask a question at the beginning of the auction to direct attention towards you – specifically one that may make other buyers hesitate. For example, has the body corporate raised any special levies? What about the development plans next door? Is the car park on the title? Hopefully these questions may unnerve inexperienced bidders.
