Buying at auction is the simplest and most straight forward method of purchasing a property. The process is quick and transparent. Our team members are highly skilled to assist you throughout the auction process once you have found a property that you would like to buy. Auctions are held fortnightly on Wednesday evenings at 7pm in our rooms located at our Auction Centre 746 New North Rd, Mt Albert. Entrance is from the rear of the building next to the car park. There is car parking available, either in the car park (our parks are indicated with red lines), or on the street. We suggest arriving 15 minutes prior to the auction to allow sufficient time for this.
To comply with the Real Estate Agents Act (2008), you will need to register to bid. This involves completing a simple registration form. You will be given a bidding card along with the approved guide for Sale & Purchase Agreements by the Real Estate Agents Authority. Please note that registering to bid does not mean that you have to bid, it merely enables you to bid.
If you are unable or do not wish to attend the auction, but still would like to bid; you can arrange to bid via telephone or appoint another party to act on your behalf. This would need to be disclosed to the salesperson prior to the auction itself to enable he/she to arrange approval from the vendor and/or Auctioneer.
Position yourself where the Auctioneer can see you; to bid you may nominate the amount of your bid by calling out; or you may bid by a show of your hand or by nodding to catch the Auctioneers eye.
We do not have “dummy bidders” at our Auctions. All bids from the floor are from genuine buyers. The Contract of Sale and Sale of Goods Act 1908 permits the Auctioneer to place a bid on the Vendors behalf in order to move the bidding towards a price level more acceptable to the Vendor. The Auctioneer will place the property “on the market”, once the reserve price has been achieved or exceeded; and the highest bidder will be the successful purchaser.
The highest bidder signs the contract and is required to pay a 10% deposit of the purchase price to Anne Duncan Real Estate Ltd Trust Account. If the reserve is not met, the Auctioneer will pass the property in, and all interested parties are invited to make an offer.
You can submit an offer prior to auction day. If the offer is at an acceptable level to the Vendor, all other registered buyers will be contacted and given the opportunity to submit a bid, by bringing the auction forward. Your salesperson will assist you with your offer if you wish to make a pre-auction offer.
One of our team members will be happy to answer any further questions you may have prior to the auction. Wishing you successful bidding!