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  • Property auctions
  • mastiles_fanylion
    Free Member

    Going to one (and bidding) for the first time tomorrow.

    Any tips, must dos/do nots etc.

    Looking forward to it – it will blow Ebay-Fever out of the water quite spectacularly.

    🙂

    mtbfix
    Full Member

    Do not get drawn into a bidding war and pay more than you wanted to. Good luck.

    mastiles_fanylion
    Free Member

    Will have 10% of my best offer as a Banker's draft in my pocket and my father in law on hand with another cheeky £10k as a gift if we feel we are almost there with our bid. So basically I know what I will pay and we won't go over it.

    (gulps)

    cuckoo
    Free Member

    make sure you can see who your bidding against (ie make sure they actually exist and are not just a wall). I was told that the person selling the house can bid on the auction too!! Not sure if this was a wind-up though.

    iDave
    Free Member

    stand at the back of the room, with a view of the whole room.

    set a limit – stick with it – in theory

    i've bought three places at auction, the first one i was bidding against a ghost

    don't jump in too early

    next ones I was more clued up – good luck

    mastiles_fanylion
    Free Member

    Blimey that was exciting! I didn't win the auction – the price went way over our maximum in the end. I did get to put a bid in though when bidding had appeared to stall around our maximum – my heart was pounding sooo hard.

    Definitely going to go again next month – just to watch. It felt like Ebay on Speed. Grrrrrr!!!!!!

Viewing 6 posts - 1 through 6 (of 6 total)

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