Auction Bidding & Negotiation
Engaging Pursuit Property Advisory to bid on your behalf at auction, enables our auction buying strategies to secure the property for you at the best price and on the best terms. With Brad's expertise as a certified property valuer for the banks for over 20 years, valuing some 20,000 homes and Peter's experience as a licensed estate agent and auctioneer, you have qualified property experts representing you at auction.
You may chose our Auction Bidding service because:
- you have missed out before on a property or you don’t want to miss this particular property.
- you are unsure or nervous about bidding at auction.
- you do not trust the selling agent.
- you are not located in Melbourne or Sydney and are unable to attend the auction yourself.
- you don’t know the true value of the property and do not want to pay too much at auction.
- you wish to retain your anonymity in regards to a property purchase.
Bradley's 20 year experience in the mortgage valuation industry has given him an in-depth understanding of the various types of properties that lenders avoid and he can advise the client not to make mistakes such as;
- Buying in a restricted postcode. Lenders assess loans differently depending on the location of the property being offered as security. They apply stricter lending policies in high risk locations to limit their risk. In most cases, this means they often reduce the maximum available Loan to Value Ratio (LVR) and the maximum loan amount that you’re able to borrow.
- Buying a stratum or company share titled property. Some lenders avoid offering loans on stratum or company share titled property, or apply a lower LVR.
- Buying properties with excessively high outgoings. In our property careers we have seen developments with reasonable outgoings, but we have also seen properties with large communal gardens requiring maintenance, multiple swimming pools and gymnasiums, 24 hour concierge and other resident services. All these costs add up and you don't want to be stuck with an excessive Owner's Corporation fee every year that you own the property.
An experienced and independent property negotiator/auction bidder from Pursuit Property Advisory can be the difference between:
- being successful at auction or missing out on the property.
- securing the property for a great price or being caught up in the agent's auction tactics and paying a price above the true market value.
- buying a poorly performing property and one that will reward you for years to come.
Pursuit Property Advisory's Auction Bidding and Negotiation Service is a flat fee service. We conduct a free preliminary assessment to advise the client before they engage our services as to whether they have a realistic chance of securing the property given their available budget. Once the client has engaged us, we prepare a property valuation report (by an API Certified Practicing Valuer), based on recent comparable sales, market sentiment and our discussions with the selling agent and an examination of the vendor’s terms.
In conjunction with the client, we determine a maximum purchase price based on all available evidence and the client's circumstances. Then we fine tune our purchase strategy based on the campaign type, competing buyer profile and information we have gained from the selling agent. We then decide on either a pre-auction offer or to bid on the day to secure a great result on the best terms.