The Hidden Pre-Auction Step That Could Save You $50,000

In This Week’s How’s The Market | Edition 161

• The Hidden Pre-Auction Step That Could Save You $50,000

• Do buyers really know the true value before bidding?

• Are you asking the right questions before stepping into auction day?

If you’re thinking about bidding at auction this weekend…

Don’t.

Not yet.

Because what most buyers don’t realise is – the mistakes you make before auction day are what cost you money.

Not what happens on the day.

We see it all the time.

People turn up:

• Underprepared
• Emotional
• Guessing on value
• Hoping it all works out

And then they either:

• Overpay
• Miss the deal
• Or buy something they shouldn’t have

So today, we’re going to go through what you must do before bidding at auction – so you’re in control, not reacting on the day.

Now we have 5 tips for you today and the last one is BY FAR the most important so make sure you stick around until the end.

The Hidden Pre-Auction Step That Could Save You $50,000

    1. Always Get a Building & Pest Before Auction

At auction, the rules change – you’re buying unconditionally.

There’s no:

• “subject to building and pest”
• “we’ll do it after”
• “can we renegotiate if something comes up”

Once the hammer falls, the property is yours – including any hidden issues.

We’ve seen buyers who missed this step end up with:

• Unexpected structural defects
• Hidden moisture damage
• Termite activity that wasn’t visible at inspection

And at that point, there’s no turning back.

Yes – a Building & Pest report is an upfront cost.

But compared to the potential risk, it’s minimal.

If you’re serious about bidding, you need clarity – not surprises.

    2. Always Get the Contract Reviewed

Confidence at auction doesn’t come from guesswork, it comes from understanding exactly what you’re signing up for.

Before you raise your hand, make sure you’ve properly reviewed the contract. It’s not just paperwork it defines your risks, obligations, and protections.

Key areas that often get overlooked:

• Special conditions hidden in the fine print
• Easements affecting use or future development
• Owners Corporation obligations (if applicable)

Too often, buyers assume the contract is “standard” but that’s not always the case.

   3. Always Check If They’ll Sell Before Auction

Always ask the question.

Most assume:
“It’s going to auction… I’ll just deal with it then.”

But in reality, that’s not always how it plays out.

A significant number of properties sell before auction – or at least open the door to early offers.

If you’re not having that conversation early, you’re already one step behind.

The smarter approach is simple:

• Would the vendor consider selling before auction?
• What would it take to make that happen?
• How strong is buyer interest so far?

Even if you don’t end up securing it early, you’ve gained valuable insight that others won’t have.

And if someone else moves first?

You’re not scrambling.

You’re ready.

    4. Always Do Your Comparable Sales Early

Most buyers either guess, rely on price guides, or leave their research too late. That’s what leads to hesitation on auction day or, worse, overpaying under pressure.

The smarter approach

Know the property’s true value before you inspect it – based on recent comparable sales, land size, condition, and location. When you have that clarity early, you stop reacting emotionally and start bidding with confidence and control.

    5. Always Ask These 5 Questions (Most Important)

In today’s market, the biggest advantage isn’t just the budget, it’s the information. Most buyers step into inspections and auctions underprepared, relying on instinct rather than insight.

The result? They compete blind.

The buyers who consistently secure the right properties do something very different: they ask better questions early.

Here are the 5 most important questions that can completely change your edge in a negotiation:

1. What is the vendor’s circumstance?
2. What are their preferred settlement terms?
3. Has anyone completed a building and pest inspection?
4. What do you consider the most comparable sale?
5. Has anyone made a pre-auction offer or confirmed they’ll be bidding?

Most buyers never ask these questions.
They walk into auctions and negotiations without the full picture.

And that’s exactly where mistakes happen not from overpaying, but from not knowing enough at the right time

What The Agents Are Saying

Budget day…

There is a lot of hesitancy and urgency in the market right now.

Conflicting forces depending on your view and position.

This week, we have seen urgency from buyers trying to get in prior to budget day tax changes.

Urgency from vendors who think they have now missed the boat.

And hesitancy from vendors who were thinking of selling but now unsure about the state of the market.

Interestingly, there were good auction numbers and auction results reported from agents last weekend and we have seen an increase in sign ups for off market listings from agents this week too.

It will really take another week or two to see what is actually happening with vendors in the marketplace so stay tuned!

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• Brand-new Inarc Architecture + award-winning Leone Constructions build
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• Multiple living zones opening to plunge pool & landscaped gardens
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