Pouncing on a good deal when a property fails to sell at auction
More than 2,000 properties will sell at auction in Australia during a normal week and knowing how to strategise and possibly pick up a bargain when a good property fails to sell can be a life changer.
When a property fails to sell at auction, a process unfolds that could lead to buyers picking up a genuine bargain. (Image source: Shutterstock.com)
Auctions can throw us all kinds of unexplained surprises, but a key for buyers is knowing what to do when the property they like passes in.
More than 2,000 properties will sell at auction
in Australia in a normal week, just under half that could be expected as private sales.But not all auctions deliver an immediate result under the auctioneer’s gavel.
Known as a pass-in, this occurs when the bidding has fallen short of the vendor’s reserve. I…
