An auction brings interested buyers together at a defined point in the campaign. It can suit a seller who wants an open bidding process and is ready to make decisions on the day. The preparation before the auction is as important as the event itself.
Discuss the likely buyers, their ability to complete checks before bidding, comparable sales and your preferred timing. Ask what the proposed campaign includes, what auction-related costs apply and what the plan will be if there is no sale on the day. An auction date creates a timetable; it does not guarantee competition or a result.
Organise the title, sale agreement, chattels and settlement terms with your salesperson and lawyer. For Christchurch property, bring together relevant consent, earthquake repair and insurance information early. Make the home available for viewings and suitable inspections so interested buyers have time to become ready.
Keep presentation consistent through the campaign. Use the inspection feedback to understand who is progressing, which documents are being reviewed and whether there are concerns that need a clear answer.
The reserve is the minimum price you are prepared to accept at auction and is confidential to you, your salesperson and the auctioneer. Discuss the evidence and campaign response before settling on it. Confirm how you will communicate with the team on the day and who has authority to give instructions.
Some buyers may request a different deposit or settlement date before the auction. Consider those requests with your lawyer so any agreed variation is clear before bidding begins.
Discuss the offer and your options rather than assuming the advertised date must stay unchanged. Depending on the agreed process, the auction may be brought forward or the property may sell before that date. Your salesperson should explain the steps and communication with other interested buyers. Take legal advice before accepting an offer.
The auctioneer explains the process and conducts bidding. A successful auction purchase is unconditional. Follow the signed agreement for the deposit and settlement arrangements, then prepare for handover with your lawyer and salesperson.
If the property is passed in, review the interest and next negotiation steps. Agree the approach and any revised marketing or price position. Do not treat a passed-in auction as the end of every buyer conversation.
Read Settled’s sale-method guidance, compare other methods and use our preparation guide. Buyers should use the separate buying-at-auction guide.
Arrange an appraisal or call 03 359 0384 to discuss whether an auction campaign suits your property.
Use the appraisal form below to tell us about your property and the move you are considering. If you would like to work with a particular salesperson, include their name in your message. You can also call 03 359 0384 to talk with the office.