Closing deals on auctions can be complicated. Here’s what you need to keep in mind before you go to buy a property on an auction.
The first thing you need to do before placing an offer is to get a proper legal report, to keep legally (and financially) safe. BUT that costs money! And I know that statistically, we buy 1 in every four houses we try to buy at auction. So that means that I need to pay for four legal pack legal reports for every home I buy. That is EXPENSIVE. As a newbie, you can dodge the costs by looking at Pre-Auction properties – that way you put an offer in early and get it under offer. Then you do the legal pack and work super-fast to exchange before the date of the auction.
Auctions can be the best way to source great deals.

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