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Tips to Prepare Yourself for a Property Auction

Buying apartments in Darwin at auction is a growing trend – but what should you do if you are purchasing property in this way for the first time?

Here are some top tips that can help put your mind at ease on auction day and hopefully leave you with the property of your dreams.

1. Carry out a property inspection

You wouldn't ordinarily buy a property without inspecting it first, so why should an auction be any different?

Make sure you visit the property on at least one occasion to get a feel for the place, as well as take note of any issues you think might affect its value.

2. Become acquainted with the auction room

If you have never attended an auction before then it might be worthwhile attending one before the big day – this will help you familiarise yourself with all the procedures.

3. Understand the terminology

Although property auctions are designed to be accessible to all, there might be some terminology that you are not familiar with.

4. Know your limits

It can be all too easy to get carried away at an auction, so establish a budget before you enter the sale room and you can't go far wrong.

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