It is easy to understand the appeal for sellers since many of the terms of auction are geared towards the sellers’ requirements. What are the benefits to a buyer wishing to acquire property via auction?

Firstly, when buyers purchase a property via auction, they can be rest assured that the seller is serious about selling. Often when transacting via traditional methods, sellers are sometimes merely testing the waters, and this can cause untold frustration to prospective purchasers. Another benefit of purchasing a property on auction is the fact that sellers are often extremely motivated, this may result in an opportunity to acquire a property at a lower price. Finally, prior to placing a property on auction, the agent (agency) conducts a thorough due diligence on the property to ensure that prospective purchasers know exactly what they are buying.

Auctions offer both buyers and sellers a myriad of benefits and it is no wonder why auctions have become so popular.