FAQs
What types of auctions does Auction Boys specialise in?
We specialise in DDD U, where D stands for Death (Deceased Estates), where D stands for Divorce, and where D stands for Distressed properties and movable goods. U stands for Unique, where a property is one of a kind in an area, that is Unique. We also work with normal sale properties, that is, non-distressed properties. Not every property is an auction property, and not every property should be sold via the normal process, or, as it is known, via private treaty. Our focus is on delivering a transparent and competitive sales environment, offering our sellers and buyers options, be it by auction or private treaty, that achieves the best market value in the shortest possible time, efficiently.
How does the auction process work?
The auction process is straightforward. After listing your property, we conduct targeted marketing to attract potential buyers. On auction day, bidders compete to purchase your property, creating urgency and often driving up the final bid. Once the hammer falls, the sale is legally binding.
What is the benefit of selling through auction?
Auctions attract serious buyers, create a competitive environment, and provide a definitive sale date, reducing holding costs like rates, taxes, and maintenance. Sellers can also avoid lengthy price negotiations, particularly where a sale is suspensive, meaning something else must happen before the sale goes through, like raising a bond, selling another property.
Are auctions only for distressed properties?
Not at all. Auctions are a powerful sales method for all property types, including well-maintained residential homes. They provide a snapshot of market value based on real-time bidding.
How is marketing handled for auction properties?
We provide aggressive and targeted marketing campaigns to ensure your property reaches the right audience in a short timeframe, maximising interest and potential bids.
What are the payment requirements for buyers after the auction?
Buyers typically need to pay a deposit within 24 hours after the hammer falls. This is followed by three days of confirmation and guarantee follow-ups. If financing is pre-arranged, conveyancing can begin immediately, often completing within 21 days.
What are the advantages of auctions for buyers?
Buyers benefit from lower reserve prices (usually inflated on search engines), transparency during bidding, and a fast purchasing process. Auctions eliminate lengthy negotiations and provide a clear view of market value.
How does Auction Boys assist with deceased estate properties?
We handle deceased estate property sales with care and professionalism, managing valuations, marketing, and legal requirements to ensure a smooth process for all parties involved.