Auction Bidding Service Melbourne

Auctions are an exciting and nerve racking way to purchase property. Auction Bidding Service Melbourne bring interested buyers together in a crowded and noisy environment where they shout out the price they are willing to pay for a property, with the bidding facilitated by a licenced auctioneer.

Can someone bid for you at an auction?

An auction is a unique selling method where the highest bidder wins the property, however it can be extremely stressful for first-time buyers who are unfamiliar with the process. With each state and territory having different rules and regulations, it is essential that you understand these and your finances before you consider buying at an auction. A buyers advocate can help you by providing a detailed property report, working out your maximum purchase price and discussing the different bidding strategies with you prior to auction day.

A buyer’s agent can also act as your proxy bidder if you are unable to attend on the day of the auction. This is usually arranged prior to auction day and involves signing a form giving them authority to bid on your behalf.

Everyone attending an auction is frightened of the “dummy bidder” hiding in the crowd to make false bids to artificially increase the price. While the state government has introduced laws to prevent this, it’s little comfort to those who feel they have been gazumped. This is a shame because it could have been avoided with a little planning.

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