I’m a buyer – what’s in it for me?
The countdown is on to the first Big Call for 2017– one of Canterbury’s largest and most exciting auction events of the year. Hosted by Bayleys Canterbury on 5 May, autumn’s Big Call will bring together buyers and sellers from across our region for one day of intense buying and selling.
What makes the Big Call so different from any other auction event is the discounted marketing package for vendors, Bayleys Canterbury auctioneer Ben Harris says. “For four weeks, each property will be heavily advertised across Canterbury – on social media, the real estate publications, online and on radio. So, if you’re a buyer, you’re going to see a lot of great properties for sale.”
Great for buyers
Richard Norris, Christchurch Residential Sales Manager, says the Big Call presents a great opportunity for buyers.
“Vendors have been working towards this day for months and are motivated to sell. Buyers can bid with confidence knowing that the vendor wants their property sold on that day,” Richard says.
“Auctions are a great for buyers as they can see exactly what’s happening – who is bidding and what they’re willing to pay. No ‘closed envelopes’ or ‘make your best shot’ type of bidding – it’s a very transparent process.”
Ben Harris says the Big Call presents a wide range of properties. “So, when they’re in the auction room, buyers get a great overview of the Canterbury real estate market.”
If you’re bidding on the day, Richard says you need to have all your ducks in a row.
“If you’re bidding, you’re bidding unconditionally. So, you need to have secured your finance and be comfortable with all the paperwork around the property – LIM, title, building inspection, insurance matters for example. And of course, have done some thinking about what you’d like to pay for the property.”
Tips for bidding
Richard says that the tip to bidding on auction day is to be confident. “You’ve come along to buy the property and the vendor is there to sell – so bid up and bid strong. Go to where you’re comfortable owning the property, and see your competition in the room.”
Of course, Bayleys Canterbury agents can assist with the bidding process. Talk to your preferred Bayleys agent or let us know before the day - we’d be more than happy to help.
Have questions about purchasing a property at auction? Call 03 375 4700 or find a Canterbury office near you.