07/09/2021
Tips before buying a property at an auction
1. Familiarize yourself with property auctions by attending at least 10 auctions before bidding
2. View the property you intend on buying before the sale. this is to check the clearer state of the property
3. Determine the market value and resale value of the property
4. Get the municipal rates and taxes owed by the property
5. Know your budget if busying cash, or get a pre approval before the auction
5. You must have 5-10 % of the sale value which is a commission for the auctioneers usually paid on the day of the auction
6. Register before the auction and pay the refundable deposit
7. Get to the auction ON TIME.