Greetings Forumites
Ok, my first Sydney IP settles on Friday and I am looking at buying another property ASAP. I have decided on a specific NSW country town for many reasons. There are two ex-housing comission properties coming up for auction in late June which are in my price range. Having zero experience with the auction process, the fear is starting to grip me already
Questions
1. How much money do I need to have on the day if my bid is successful? Will they accept cash?
2. Will pest/building reports be provided before the auction?
3. How long is the normal settlement period for auctions?
4. Can I still put an access clause in the contract do do some tidy-up/renovations b4 settlement?
I will remember to literally walk away immediately that the bidding gets above my pre-decided top price!
Please only reply to this post if you are an auctioneer or have yourself bought at auction in the past....
Regards,
Hobbo
Ok, my first Sydney IP settles on Friday and I am looking at buying another property ASAP. I have decided on a specific NSW country town for many reasons. There are two ex-housing comission properties coming up for auction in late June which are in my price range. Having zero experience with the auction process, the fear is starting to grip me already
Questions
1. How much money do I need to have on the day if my bid is successful? Will they accept cash?
2. Will pest/building reports be provided before the auction?
3. How long is the normal settlement period for auctions?
4. Can I still put an access clause in the contract do do some tidy-up/renovations b4 settlement?
I will remember to literally walk away immediately that the bidding gets above my pre-decided top price!
Please only reply to this post if you are an auctioneer or have yourself bought at auction in the past....
Regards,
Hobbo