With only a few more sleeps to go until Spring Fling, we spoke to First National Newcastle’s Sales Agent and Auctioneer, Roger Ingham, about how to best prepare for the day. He gave us 5 key insights we think will be of value to you, whether you are looking to sell or buy on November 6th 2016:
Spring Fling Auction Event November 6th 2016.
#1: Auctions give you an outcome on the day:
Roger’s perhaps most potent tip for Spring Fling is this; the key benefit of an auction is that the owner is ready to sell. As a buyer you avoid what can be protracted and sometimes daunting negotiations.
If you have been through this before you know what we are talking about. Nervous waits, offers being made, lines in the sand being drawn. While it can be a rush it can also be plain exhausting.
With auctions, you have been through the preparations and are buying ready. You have inspected the pest and building reports provided to you, you have been in dialogue with your solicitor and bank manager. And most importantly you have got your offer in mind based on the research you and your supporters have carried out prior to the day.
As such, your work upfront pays off on the day. You will get an outcome, and can happily bypass any drawn-out processes.
As an owner, you know there is competition at the auction to purchase your property, and you are protected by your reserve price. Auctions are transparent and provides full visibility to all parties involved.
#2: We are all in the same boat:
Auctions; love them and potentially also be a little scared of them. We are all in the same boat. With 25 years experience in the real estate market, Roger says we need to know that we are all experiencing much of the same emotions on the day. His advice to us is to take a step back, have our game plan in order and hold our nerve.
If auctions are new to you, the First National Newcastle City team are available every day leading up to November 6th. Please feel free to pop in to 36 Kemp Street The Junction and talk through any questions you might have.
Jo, a valued client discussing property with First National Newcastle’s George Rafty.
#3: Your strategy on the day:
Roger advices us to choose a visible position to allow yourself to see and be seen during the auction. Further, he recommends making a strong offer early on to knock out any competition who is not as serious about the property as you are. His rationale is this will place you on the auctioneer’s radar and it can also stifle any competitor bidding because your offer is assertive.
Getting into position at auction.
#4: Preparation matters:
If you are planning to make an offer at auction, Roger advices us to pre-register at the First National Newcastle City offices in Kemp Street over the coming days. This saves any fluster of registering on the day of the auction, you avoid lining up and can calmly attend the auction timeslot your property is allocated.
There will be an order of sale published in the days leading up to Spring Fling. With 17 properties being featured, you will know the approximate time each property will be going under the hammer.
Roger does propose arriving a little early to get a feel for how the auctions are running as this can help make any final preparations. You can also have a chat to your agent for any last minute insights, and as this is planned as a community day please enjoy a drink, some food and the festive atmosphere. We are aiming to make the day both a success and also great fun.
132 Andrew Road Valentine going under the hammer at Spring Fling
#5: If your offer is successful you can celebrate your property with friends and supporters knowing the deal is sealed with your 10% deposit and contracts exchanged. If you just missed out, know that by attending the auction you have signalled to the market that you are ready to buy. This will place you in an optimal position for first inspections when new properties come on to the market over coming weeks.
First National Newcastle City’s Spring Fling auction event is proudly featuring 17 properties on this one day in November from suburbs in and around the Junction, Merewether, Charlestown, Hamilton, Valentine and Waratah West.
We welcome you to attend our Spring Fling on site at our office; 36 Kemp Street, The Junction from 10am onwards on November 6th 2016.
Please pre-register here.