From: Gidget .
Hi everyone!
My husband and I are new to PI and before we buy, have been going around to auctions to get an idea of how auctions work and what property prices are like in various areas. We've been doing a bit of home-work regarding how we go about accessing our equity to buy. We've learned about deposit bonds, but I'm not sure how these work in an auction situation. If you're planning to use a deposit bond and/or if you want to put down a deposit other than 10%, do you have to let the auctioneer know before the auction?
Any comments would be appreciated.
Gidget.
Hi everyone!
My husband and I are new to PI and before we buy, have been going around to auctions to get an idea of how auctions work and what property prices are like in various areas. We've been doing a bit of home-work regarding how we go about accessing our equity to buy. We've learned about deposit bonds, but I'm not sure how these work in an auction situation. If you're planning to use a deposit bond and/or if you want to put down a deposit other than 10%, do you have to let the auctioneer know before the auction?
Any comments would be appreciated.
Gidget.
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