Like most aspects of the property market, buying and selling at auction is very similar from state to state. As NSW is the most highly regulated auction environment, this book focuses on the NSW process. As such, these would be the maximum requirements throughout Australia.
In general, auctions tend to be more popular in urban areas of major metropolitan cities such as Melbourne or Sydney. This is because buyers are looking for properties that are:
well situated;
unique in some way such as architecturally popular;
very popular locality; and
have a high level of market activity, that is, properties that are in high demand
This guide examines the differences between auction and private treaty (for sale) and how you, as a buyer, can best work with the agent and the auctioneer.
Like most aspects of the property market, buying and selling at auction is very similar from state to state. As NSW is the most highly regulated auction environment, this book focuses on the NSW process. As such, these would be the maximum requirements throughout Australia.
In general, auctions tend to be more popular in urban areas of major metropolitan cities such as Melbourne or Sydney. This is because buyers are looking for properties that are:
well situated;
unique in some way such as architecturally popular;
very popular locality; and
have a high level of market activity, that is, properties that are in high demand
This guide examines the differences between auction and private treaty (for sale) and how you, as a buyer, can best work with the agent and the auctioneer.
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