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Property experts shared the do's the don'ts of buying a property at auction
Australian real estate experts revealed the common mistakes buyers are making
Auctioneer Jason Pantzer said potential buyers should always make the first bid

Published: 02:32 EDT, 26 October 2018 | Updated: 03:32 EDT, 26 October 2018

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Buying a property can be overwhelming.

But knowing the do's and don'ts can boost your chances of successfully bidding on your dream home at the next auction.

Here, two Australian real estate experts revealed the common mistakes prospective property buyers are making - and what to do to seal the deal.

Knowing the do's and don'ts can boost your chances of successfully bidding on your dream home at the next auction (stock image)

TOP TIPS FOR WINNING AT AUCTION

Bid early
Be confident
Don't be silent
Stick to a budget
Act like you don't have a budget
Do your research
Be financially prepared

Sydney auctioneer Jason Pantzer said potential buyers should always up their game-plan by making the first bid - and don't stay silent if you are planning on buying.

'Bid at a level you are comfortable with and if it is too low, at least you have put your best bet forward,' he told The Daily Telegraph.

'It also puts you in a position of power if the property passes in and the sellers want to negotiate, because your bid was the highest at auction.'

Mr Pantzer said another mistake people make was not submitting a bid because they hope to later negotiate with the sellers if the home passed in.

Australian real estate experts revealed the common mistakes prospective property buyers are making - and what to do to seal the deal (stock image)

To stand out from the crowd, Real Estate Buyers Agents of Australia president and Propertybuyer.com.au CEO Rich Harvey said confidence was key to bidding.

'Be confident in your body language and give the impression you have an unlimited budget and will do whatever it takes to win the property,' Mr Harvey said.

He urged buyers to always come financially prepared to an auction by making sure you have your 'deposit in clear funds and pre-approval [from the bank] ready to go'.