Buying by Auction with Total Realty Buying by Auction with Total Realty

Buying by Auction

At Total Realty, we realise that buying a property at auction can be a daunting task.

This is why our agents will always go the extra mile to support you throughout the process.

Remember, a property auction is a fast-paced, public sale. The property is sold to the buyer with the highest bid after the seller’s reserve price has been reached. Our team is here to help and there is also good supporting material available to assist if you are new to auctions.

Important things to know:

The auctioneer will not reveal the reserve price. The reserve is set between the auctioneer and the seller prior to auction. When the reserve price has been reached the auctioneer will announce the property is now "on the market" which means the highest bidder will soon own the property.

Buyers should register their interest with the agent and ask to be informed if another buyer makes an offer before the auction date.

Auction bids are open so you know what everyone else is bidding. If you haven’t been to an auction before, it’s a good idea to attend one as a spectator so you can see how they work.

If you win an auction, you are committed to purchase the property. You will usually be required to pay the purchase deposit on the auction day.

We thoroughly recommend a buyer to educate themselves on the auction process so that when they are bidding on the day, they have a good understanding of the process enhancing their chances of making their bid the final and winning bid. There are many resources available to help with any questions you may have and we recommend attending other auctions prior to the one you intend to bid at.
The REA and REINZ have prepared excellent guides so, if you want to "dig deeper", follow the links below. Of course, our licensees are always on hand, as is our Company Auctioneer so, at any stage, please feel free to contact a member of our team.
Meet our Auctioneer →

Other useful resources:

At Total Realty we pride ourselves on being of service to you so, if you are buying or selling and are looking to work with people who care, please feel free to contact one of our team anytime by calling 03 940 9797 or emailing enquiries@totalrealty.co.nz

"Their service delivers over and above...

In selling our house not only did Total Realty save us over $40,000 in commission, but the agent's mastery resulted in a perfect home for our happy buyers and a great result for us to move on easily.

Total Realty is a fabulous company, not just the front line staff but the professionals working behind the scenes, to ensure everything is processed accurately and timely.

We have sold with Total Realty four times and their service delivers over and above the service I have ever had from any of the more expensive Real Estate agencies."

Diane Gordon
 
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Property Assistant

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