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How to Buy at Auction

Auctions can be emotional for both buyers and sellers, especially the day itself. With the right advice and plenty of preparation you can become familiar and confident with the bidding process. Here are our top tips to successfully bid at your next auction:

  1. Arrive early at the auction early and register your interest to bid
  2. Make yourself noticed but keep your cool – projecting confidence makes other bidders think you have deep pockets and no limit
  3. Practise makes perfect – attend as many auctions as possible to familiarise yourself with the process and rules 
  4. Be financially prepared – loan pre-approval is a big advantage and if you’re bidding at auction will ensure you have adequate funds in your cheque account to pay the deposit.  Loan Market’s Ciaran Leahy can help
  5. Understand the market – work out what the property’s worth and what you’re prepared to pay