But buying at auction doesn’t have to be scary. In fact, with a bit of prep and a few pro tips, you can walk in feeling cool, calm and confident.
Sometimes, you don’t even have to face auction day.
If you love a property, you can make a pre-auction offer. This is an offer you submit before auction day, hoping to tempt the seller into a quick sale.
Hot tip: if you’re going to do this, get advice on how to structure your offer so it’s strong and clean — sellers don’t love lots of conditions.
Before you lift that auction paddle, you’ll want your legal team (aka your solicitor or conveyancer) to review the contract of sale.
At auction, there’s no “subject to finance” safety net — once the hammer falls, you’re locked in.
So make sure your lawyer has reviewed the paperwork, and you’re ready to go with your deposit (typically 5–10%).
When you buy at auction, the sale is unconditional.
Translation: you can’t change your mind later if finance falls through or your circumstances change.
No cooling-off period. No clauses.
That’s why it’s crucial to:
Buying at auction isn’t about being the loudest or the fastest. It’s about being the best-prepared person in the room.
And if you need a bit of extra help? The team at FOUND has got your back — from translating auction lingo to lining you up with great legal contacts.
We’re here to make the process exciting, rewarding… and dare we say it, even a little bit fun.
