Bidding at auction can be an exciting process, but you do need to be prepared. Arranging your finances before auction helps you to set your own bidding limit and puts you in a better position for a successful negotiation – not to mention saving you a great deal of stress down the track!
Before you consider making an offer, be sure to see your mortgage broker who can help you to:
- Find out how much you can borrow
- Apply for a home loan pre-approval
- Arrange finance before selling your existing home
- Organise a deposit, including deposit bonds
By doing this you will save yourself the legal stress of overcommitting yourself financially, as well as the emotional heartache of getting attached to a home you cannot afford.