How to buy after an auction

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WHEN we read in the paper that a property has sold at auction, most of us probably assume it went off “under the hammer”.

But experts say most properties listed as “sold at auction” are passed in and sold later after negotiation. And with the clearance rate hovering at about 60 per cent, more properties than ever are being passed in.

We asked two buyers’ advocates for some simple tips to make sure you don’t pay more than you need to.

“Remember, it’s the agent’s job to get the best price they can for the vendor,” said Catherine Cashmore, of JPP Buyer Advocates.

Click here for the rest of the article (Source: Herald Sun Website)

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