The big day is here..

[start-up]

After 3 years of saving, researching and waiting today I bid at auction on my first potential investment which will also be my home. I've missed out on two properties through private sale offers where I was beaten at the post. Hopefully third time is the charm, I would be thrilled to get it in my budget.

 

[ozmale42]

After 3 years of saving, researching and waiting today I bid at auction on my first potential investment which will also be my home. I've missed out on two properties through private sale offers where I was beaten at the post. Hopefully third time is the charm, I would be thrilled to get it in my budget.

Good luck .

 

[mrmonopoly]

All the best. Let us know how you get on

 

[cu@thetop]

After 3 years of saving, researching and waiting today I bid at auction on my first potential investment which will also be my home. I've missed out on two properties through private sale offers where I was beaten at the post. Hopefully third time is the charm, I would be thrilled to get it in my budget.

Good luck- keep a cool head and remember there are always other good buys out there. If bidding in Brisbane let us know how it goes and where the property is if you are successful (or not!).

 

[fokas]

How exciting for you! Good luck.

 

[start-up]

Thank-you for the well wishes.

Huge turn-out, only three bidders, one dropped out early. I went as far as I could but was beaten by 5k. Very very upsetting.

There aren't enough expletives in the world to emphasise how disappointed I am.

I'll have to look at suburbs 10km further out of the city to get a look in. Lifestyle and potential capital gains fail.

That's probably enough self pity for one post.

 

[cu@thetop]

Cheer up- if you learn one thing from this forum it is that there are always other options. If you went to your limit then that's all you can do. Semper Vigilans!

 

[Dazz]

I went as far as I could but was beaten by 5k.

That's how auctions work - the price the Seller receives is dictated by how much the 2nd highest bidder is either willing or able to pay.

The crucial aspect that no-one knows is.....what was the highest bidder prepared to pay for the property. It could have been 10K, 20K or even 50K higher than what he had to pay to beat you.

Of course, the highest bidder might have been representing the neighbour, who has plans to consolidate both blocks and do a huge development which will add 100's and 100's of K's to the place, and hence you never would have been able to compete with them.

You'll never know....and neither will the Seller.