{"id":26754,"date":"2019-06-10T11:50:45","date_gmt":"2019-06-10T03:50:45","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=26754"},"modified":"2022-06-13T17:07:11","modified_gmt":"2022-06-13T09:07:11","slug":"how-to-get-a-good-deal-at-a-property-auction","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/how-to-get-a-good-deal-at-a-property-auction\/","title":{"rendered":"How to Get a Good Deal at a Property Auction"},"content":{"rendered":"
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Property auctions are even available for HDB flats these days; and anyone can register for one. But before you buy a home at an auction, brace yourself with the right plan:<\/p>\n

Not every home at a property auction is “going for cheap”<\/h3>\n

Contrary to what you may think, property auctions are not <\/em>always a sign of desperation. Many sellers (particularly HDB sellers, now that it’s possible<\/a>) choose to use auctions as a way to quickly secure a good price.<\/p>\n

Not everyone wants to sit around for months while agents lead viewers through their home, overhearing comments like “the wallpaper is so ugly” and “why did they pick the furniture in the dark?”<\/p>\n

So do yourself a favour, and drop the notion that everything you see at the auction will be “cheap” and therefore a good deal. You need to do as much work before hand as you would when buying normally. Here’s how to maximise your chances of finding a bargain:<\/p>\n

1. Research the surrounding properties long before you get to the auction room<\/h3>\n

Auctions will post the listings going under the hammer, often about two weeks ahead.<\/p>\n

Use the map on 99.co<\/a> to check out the median prices in the related areas. Remember, you can’t tell if something is a good deal, if you don’t know what the price should <\/em>be. While you’re at it, you’ll also want to take note of:<\/p>\n