Auctions are hardly the ideal method of purchase for first home buyers. As a means of transacting property, I think it is safe to say that the traditionally competitive environment of an auction is not always the preferred option for first time buyers. Nevertheless, it is difficult to deny that auctions can be an effective…
Articles by Will Hampson
Will is the director of 'My Auctioneer' and a professional auctioneer to agents across Sydney, surrounding NSW and the ACT with over twenty years of experience having commenced his career in 1995. In 2014 Will Hampson was awarded the Australian Real Estate Awards Auctioneer of the year. Visit www.myauctioneer.com.au
So why do banks and estates go to auction? With a deceased estate it must go through probate, which normally will take two to five weeks, however cannot be granted earlier than twenty-eight days. Often there may be multiple beneficiaries involved in the sale of the estate. A sale by auction is the fairest and…