Big Call bidding debunked
The roar of the auction room, palpable excitement and nervous anticipation have long made a sale by auction, the New Zealand seller’s preferred method of choice. Yet, the interactive process can still intimidate even the most seasoned investor.
With a sale by auction accounting for the majority of transactions in the market today, it is no accident that New Zealanders are choosing to sell their homes under the hammer.
As activity in the domestic property market has reached feverpitch in the last three years, the driving force - a disparity between supply and demand has fed the growing popularity of the auction process. Thriving where housing stock is relatively low and competition to buy is at an all time high.
For those not accustomed to the energy of the auction room, it can be an overwhelming situation, yet there are many positive reasons it remains the favoured avenue for sale.
Likened to a performer's stage, auction day is a property's time to shine. A carefully planned campaign of public advertising and open homes, allows buyers the opportunity to inspect the property with a fine-toothed comb.
With deadline a catalyst for action, no other sale option provides such a level playing field for anyone interested to buy.
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