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What are some tips to buying real estate at auction?

With the traditionally strong spring season underway, now could be a great time to get off the fence and commit to buying real estate in Darwin. With the increasing popularity of auctions as a sales method, however, it can be a daunting prospect to consider buying in the current property landscape. 

However, here are some tips to help you make the most of your experience in the Darwin real estate market. 

Set yourself an upper limit

The first thing to remember is that, in the heat of the auction moment, it can be easy to throw caution to the wind and bid more than you're capable of affording. This can cause problems in the long term, with the best way to avoid this simply being the establishment of a financial limit. 

Speaking with a home loan lender about the amount you'll be able to borrow is a good place to start. 

Do your market research

If you have a decent idea about the general sales trends in your local market, this can give you an indication about whether the property you'll be bidding on is properly priced or not. This could be a major influencing factor when deciding which auctions to pursue. 

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