Have you considered refinancing your home loan?
Home loans can be quite interesting. They are often a topic of interest in the media and most people know of their existence even if they don’t actually have a mortgage themselves. However the finer details of what a home loan involves and how they work are often misunderstood, even to people who are mortgage holders. Did you know, for example, that even if it takes you twenty plus years to repay the amount you originally borrowed to purchase a property, you do not have to stay...
Settle on inclusions before buying at auction
It’s a realization that can be incredibly frustrating, sometimes tarnishing the experience of moving into a fantastic new home – “But I thought they were leaving the dishwasher/shutters/built- in heater…” Many people often assume the inclusion of various fittings, fixtures and appliances in their purchase of a property. In some situations, it only comes to light upon moving in that various household items which were present upon earlier inspections have been removed and taken...
Professional property inspections - should you have one before buying?
It is a question that we often hear from buyers who are considering the purchase of a property - should I have a professional property inspection conducted before buying? While I can’t speak for every real estate agent in the business, from my experience I can tell you that arming yourself with the knowledge from a property inspection usually puts you in a much better position. The purpose of a building inspection is to determine any issues that may exist in a property that you...
The importance of scent to the sale of your home
It is widely recognized that your sense of smell is an incredibly powerful tool. As the only sense hardwired to our brains, smell has the power to create associations, often causing reactions to particular scents. Smell influences us to the extent that companies often use additives to enhance the smell of food products, drawing us in. So what does this have to do with buying and selling real estate? More than you would think. In the process of preparing their homes for...
Good news for home owners as interest rates are left on hold again
For those home owners with a mortgage, or prospective buyers looking to purchase real estate soon, last week’s interest rate decision by the Reserve Bank of Australia was good news and brought some relief. After almost a month of speculation that interest rates would be increased in July, the RBA decided to keep rates steady at 4.5 per cent, making this the third consecutive month that interest rates have been kept on hold. The RBA’s decision came off the back of...
Smartbook - learn more here
Our new web-based technology allows you to create a customized booklet of all CENTURY 21 properties at the click of a mouse. Just enter the criteria of the property you are looking for and view the properties that match your criteria as a virtual magazine - designed just for you! Smartbook- the quickest and easiest way of viewing property online!

Have you considered refinancing your home loan?
Home loans can be quite interesting. They are often a topic of interest in the media and most people know of their existence even if they don’t actually have a mortgage themselves. However the finer details of what a home loan involves and how they work are often misunderstood, even to people who are mortgage holders. Did you know, for example, that even if it takes you twenty plus years to repay the amount you originally borrowed to purchase a property, you do not have to stay...
Settle on inclusions before buying at auction
It’s a realization that can be incredibly frustrating, sometimes tarnishing the experience of moving into a fantastic new home – “But I thought they were leaving the dishwasher/shutters/built- in heater…” Many people often assume the inclusion of various fittings, fixtures and appliances in their purchase of a property. In some situations, it only comes to light upon moving in that various household items which were present upon earlier inspections have been removed and taken...
Professional property inspections - should you have one before buying?
It is a question that we often hear from buyers who are considering the purchase of a property - should I have a professional property inspection conducted before buying? While I can’t speak for every real estate agent in the business, from my experience I can tell you that arming yourself with the knowledge from a property inspection usually puts you in a much better position. The purpose of a building inspection is to determine any issues that may exist in a property that you...
The importance of scent to the sale of your home
It is widely recognized that your sense of smell is an incredibly powerful tool. As the only sense hardwired to our brains, smell has the power to create associations, often causing reactions to particular scents. Smell influences us to the extent that companies often use additives to enhance the smell of food products, drawing us in. So what does this have to do with buying and selling real estate? More than you would think. In the process of preparing their homes for...
Good news for home owners as interest rates are left on hold again
For those home owners with a mortgage, or prospective buyers looking to purchase real estate soon, last week’s interest rate decision by the Reserve Bank of Australia was good news and brought some relief. After almost a month of speculation that interest rates would be increased in July, the RBA decided to keep rates steady at 4.5 per cent, making this the third consecutive month that interest rates have been kept on hold. The RBA’s decision came off the back of...
Smartbook - learn more here
Our new web-based technology allows you to create a customized booklet of all CENTURY 21 properties at the click of a mouse. Just enter the criteria of the property you are looking for and view the properties that match your criteria as a virtual magazine - designed just for you! Smartbook- the quickest and easiest way of viewing property online!

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Smartbook – Buyer Page. Our new web-based technology allows you to create a customised booklet of all CENTURY 21 properties at the click of a mouse. Just enter the criteria of the property you are looking for and view the properties that match your criteria as a virtual magazine – designed just for you! Smartbook – the quickest and easiest way of viewing property online!

Buying at Auction

Do your homework

Check out the neighbourhood and its facilities - schools, public transport, restaurants and other amenities.

Monitor property sales in the area and attend several open houses so you can confidently assess property values.

Inspect the property two or three times before the auction to be absolutely certain it is the one for you. Remember: there is no cooling off period.

Attend some auctions to get an understanding of how the process works so that you are confident on the big day.

Bring in the experts

Arrange for finance beforehand. Make sure that you contact your loan consultant and know exactly where you stand prior to bidding at auction.

Have a builder or architect thoroughly inspect the property you are interested in buying.

Always have your solicitor check the contract thoroughly before the auction.

If you are not comfortable bidding and you are very interested in the property, then make a pre-auction offer or arrange for a friend or relative to bid for you.

Have a plan

Prior to the auction, set a firm limit on what you are willing to spend and stick to it.

Try to get a realistic understanding of the price range but remember that no one has a crystal ball: what the agent quotes as the likely selling price may be off the mark either way.

Decide on your bidding strategy. As you get close to your limit, don’t be afraid to increase your bid in small bites: the auctioneer will usually accept these.

When you do bid, bid with confidence.

Stay calm

Avoid getting into a personal bidding war with another bidder.

Try not to get too emotional about a property: there will always be other places to choose from. If you want it at all costs, that is exactly what may happen!

Be ready for action

Always take your chequebook to the auction. If successful your deposit will be held in trust until the settlement.

If you bid, but the property is passed in, the auctioneer may invite you to negotiate. The highest bidder is normally given the first right to negotiate.

If your auction bid is successful, once the property is “knocked down” to you as the buyer, you are required to sign the contract and pay a deposit, which is usually 10 per cent of the purchase price.

Jump into action

Immediately organise insurance cover to protect your interest in the property. Do your research and comparison-shopping of policies prior to auction.

If you need to sell a property to purchase at auction, speak to your CENTURY 21 agent beforehand to see if you can arrange for an alternative settlement date.

Access to the property is not a given right before settlement. Arrange this with the seller through the agent.

Pre-auction offers

If you really want the property and don’t want to bid at auction, you can put in a pre-auction offer. Many properties are sold this way. Some vendors will still want to go to auction, but many are willing to negotiate.

Glossary of Property Terms

Go back to Ask the Experts