Hi all,
We're considering buying a new PPoR at auction next weekend (in Melbourne). I'm reading through auction advise threads here to understand as much as I can about the psychology and tips.
I've attended a few auctions today just to understand the process.
I've got a few questions.
1. In case we win the auction, do we need 10% deposit on the day?
2. Do we need a bank cheque drawn up ready to go?
3. Whose name should the cheque be drawn? Should I just ask the agent?
Any other tips/advise would be much appreciated.
We're considering buying a new PPoR at auction next weekend (in Melbourne). I'm reading through auction advise threads here to understand as much as I can about the psychology and tips.
I've attended a few auctions today just to understand the process.
I've got a few questions.
1. In case we win the auction, do we need 10% deposit on the day?
2. Do we need a bank cheque drawn up ready to go?
3. Whose name should the cheque be drawn? Should I just ask the agent?
Any other tips/advise would be much appreciated.