Bidding

It can be easy to get caught up in the moment when the auction is in full swing, so it’s important that you set yourself some limits and goals.

• Consider your top bid while you’re in a calm and  rational state of mind and stick to it.
• Stand right at the front with a good view of the crowd and auctioneer – ask a question right at the start to show you mean business.
• Start with a strong bid, then increase by smaller increments.
• Record the bids so you don’t lose track.
• Keep calm and be aware of your body language – give the impression you know what you’re doing.
• If you don’t trust your emotion, consider employing a buyer’s agent to bid for you.

Private sale treaty

A private sale has no specified closing date and is usually negotiated between a buyer and vendor with the assistance of an agent or legal representative.

Expressions of interest

Similar to a private sale /treaty expect that a formal written offer is submitted for the property by a specific date.

Source – https://www.raywhite.com/blog/advice-and-tips/bidding/