Buyers Advocacy Blog

Bidding at auction in a buyers market is sometimes a better way to buy property, especially when there is a motivated vendor!

Auctioneers are known to put a lot of pressure on bidders during an auction, to pit one against the other, pushing them beyond their rational price limit, and into their emotional limit. 

A good auction tip is to distance yourself emotionally from the process, and have a friend who has lots of experience in bidding bid on your behalf with clear instructions when to bid up to, and to be prepared to walk away. Another good tip is to not bid until the property is either going to be passed in, or if it's reached the reserve. Then you have to bid to win the first right to the vendors reserve if it does get passed in, or the highest bidder to purchase the property if it's reached reserve.

Otherwise do what more savvy and astute buyers are doing and using a buyers advocate to bid on their behalf. Usually under the cost of an average auction bid of $5000, a buyers advocate will avert the competition from bidding much beyond their rational limit with good strategies and tactics. They can usually save clients 2- 3 average auction bids with their expertise and inside knowledge about the auctioneer and other prospective buyers. 

Call David Melatti from Astute Buyers Advocates for a free confidential consultation on 1300 736 638 on how to beat auctioneers at their game. 

Many home buyers and investors when purchasing property factor in costs for solicitors/ conveyancers, mortgage brokers/ bank managers, accountants, and sometimes building & pest inspectors , but sometimes buyers advocates are seen as an extra cost.

I have had many testimonials of very happy clients who have used a our services, and swear they wouldn't do it any other way, and will tell all their friends and family how much stress, time and money we have saved them.

Unfortunately, some buyers that have decided to go and buy themselves haven't got the time, expertise and knowledge on avoiding all the pitfalls of buying, and have no or little experience in negotiating with real estate agents . Speaking to several buyers who thought doing it themselves was going to save them money, have given me first hand accounts of the games real estate agents play, how they paid too much for a property, have found hidden major structural problems with the property, or have simply bought the wrong investment property.  Some have reported that it has cost them over $50,000 in repairs, and another paid $95,000 over reserve as they were duped in paying too much. Sounds like someone you know?

Call David from Astute Buyers Advocates for a free no obligation chat before embarking on your property purchase on 1300 736 638

Home buyers trying to buy their first property or an investment property should do their homework before buying any property.

Here's the unfortunate case of a young city dweller Mr Mancuso who didn't do his homework regarding planning permits and applications before purchasing his apartment.

http://theage.domain.com.au/residents-balconies-would-be-enclosed-in-100m-hole-20120227-1tyxr.html

Had he had the right professionals representing him throughout the buying process ie. conveyancer, solicitor, finance broker and independent buyer's advocate, then he would have been given the right advice about the type of property to buy, where to buy, and things he needs to be aware of before purchasing. Unfortunately many home buyers think buying a property is easy, but so is buying the wrong property and paying too much for it!

Give David Melatti a call regarding your property purchase before it's too late! Call on 1300 736 638 for a free and confidential chat.