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Auctioning can be a successful way to get top dollar for your home just be aware of these 6 pitfalls




AUCTIONING can be a great way to sell your house.

It can build a bit of competition and in some cases when buyers are really keen that can help drive the price substantially above reserve.

But like all aspects of selling a home, not everything always runs smoothly.

Avoid these pitfalls and hopefully it will be a successful result for all concerned.

Matt McCann, CEO of LocalAgentFinder, said picking the right agent was definitely the most important starting point and could be the difference between your home being passed in or achieving the best possible price.

RECEIVING MULTIPLE OFFERS BEFORE AUCTION

Doesnt sound like a pitfall but it can be. Mr McCann said accepting an offer before auction means you stop the building up of competition that can come on auction day and potentially force up the price of your home.

At the same time, auction day could mean the property is sold for less than what you are offered in the lead up,’ he said.

Mr McCann said offers made before auction should be exceptional’ in price and favourable in all conditions, as buyers were not just purchasing your property but the right not to compete with the market.

NO BID ON AUCTION DAY

Your agent should be in regular contact with you to advise whether the interest is there and whether or not you should proceed with the auction - not just push ahead anyway.

THE BUYER WALKS AWAY FROM THE DEAL
Surprisingly if your property sells at auction, it doesnt necessarily mean the deal will go through. It should, but it doesnt always.

Occasionally, buyers do walk away from their contract and the main reason for this is due to finance,’ Mr McCann said.

In some cases, you could be left with having to pay your agent his or her full commission.’

The best way to try and avoid this situation is to make sure your agent does a lot of work vetting buyers and screens out the tyre kickers’.

A POORLY TIMED AUCTION DATE

You may not follow the AFL, Rugby League, Union or Football but you can be guaranteed some of your potential buyers do.

Avoid scheduling your auction for the big Grand Final days to ensure the most people possible can attend.

YOUR PROPERTY DOESNT REACH RESERVE AND YOU CHOOSE NOT TO SELL

The decision to relist your property shouldnt be taken lightly,’ according to Mr McCann.

Re-listing your home after a failed auction campaign provides a huge amount of information to prospective buyers, including how much your property was passed in for. They know that youre not going to accept anything under the highest bid and it shows that youre potentially not open to negotiation.

It could appear stale’in some buyers eyes.

LOWERING YOUR RESERVE TO MEET THE MARKET

You should not have to lower your reserve if your agent has priced your property realistically,’ Mr McCann said.

Australias winners and losers of


pstrongWHAT a year it’s been for the who’s who of Australian politics, media and business. /strong/ppOne of the most interesting Federal Election results in ages has shaken up the Parliament, and weve had corporate collapses and scandals galore./ppIt would be impossible to list all of the spectacular falls from grace and triumphant victories, but heres a selection of the most entertaining and newsworthy./ppAs you prepare to farewell 2016, spare a thought for the Australians whose lives tumbled unexpectedly into chaos, and celebrate or commiserate the stunning achievements of those who came out on top./ppbTHE YEAR THEYD RATHER FORGET/b/pppbJAMES PACKER /b/ppIts been a tough year for the casino mogul with the arrest of Crown employees in China followed by a high-profile split from diva fiance Mariah Carey./ppThe chief executive is believed to be negotiating a multi-million dollar settlement with the iDreamlover /isinger, whose reported extravagant spending has been cited as a possible reason for the relationship breakdown./ppCarey has reportedly argued that she should get a percentage of business deals she says Packer secured with her help, claiming that he dragged her along to meetings to help charm corporate leaders and foreign dignitaries./ppMeanwhile, 18 Crown employees are languishing in a Chinese prison after being arrested on suspicion of breaching the nations strict anti-gambling laws, believed to be in connection with their marketing activities aimed at luring highrolling Chinese whales to Mr Packers casinos a tricky grey area./ppShares in Crown dropped 12 per cent to $11.40 after news of the arrests broke in October, as the companys expansion in Asia and the success of its planned $2 billion Barangaroo casino in Sydney were thrown into doubt. He also sold a $300 million stake of his operations in Macau./ppBut Mr Packer enjoyed a victory in the NSW Land and Environment Court on the Friday before Christmas, when a community groups appeal of his development approval was dismissed./ppbROXY JACENKO/b/ppWhile the indefatigable PR queen insists that shes had worse years, 2016 has been a shocker for Roxy Jacenko./ppWith her husband Oliver Curtis locked up at Cooma prison for Christmas after an appeal court rejected his bid for freedom, Jacenko has focused on keeping up appearances, projecting an image of optimism and strength./ppEveryone around you wants to you fail, now is the time to go, Fck you. You think Im going to fail?” she told iWho/i./ppIts shown me you can conquer anything./ppAs if Curtis June conviction and minimum one-year sentence for conspiracy to commit insider trading werent enough, Jacenko underwent treatment for breast cancer shortly after the trial./ppAnd her spat with estranged father Nick Jacenko and his wife Lisa Ho played out in the papers, with iThe Daily Telegraph /i reporting that the police were called to Moncur St, Woollahra after Jacenko ran into the pair on the street outside a restaurant. /ppBut she still described herself as lucky, saying I have an incredible support network, my mum is brilliant, my children are a joy to be around and my business is thriving./ppbSAM DASTYARI /b/pp One minute, the influential senator was one of Canberras rising stars; the next, he was relegated to the back bench as Shanghai Sam./ppSam Dastyari, who was Labors manager of opposition business in the Senate and spokesman for consumer affairs, famously trolled Pauline Hanson on election night, infuriating the newly re-elected One Nation leader by inviting her to join him for a halal snackpack in Sydneys west. /ppBut the cheeky smile was wiped from his face when it was revealed that Mr Dastyari had received payments from a Chinese-linked company./ppThe $1600 payment was for a travel bill that Mr Dastyari faced after going over his parliamentary allowance. The Top Education Institute footed the bill./ppPrime Minister Malcolm Turnbull queried whether the donation may have influenced Senator Dastyaris reported divergence from Labors policy on the South China Sea dispute./ppHe maintained that no donors had asked for anything in exchange for the funds, but did not explain why he asked for the payment./ppI should have paid it myself, Mr Dastyari said. I made a mistake, I was in the wrong, I apologise, Im sorry and I want to apologise more broadly to the Australian public./ppbTIM WORNER /b/ppSeven Wests chief executive has ended 2016 holding onto his job by a thread, after a disgruntled ex-employee revealed their scandalous, allegedly drug-fuelled affair./ppAfter the board declined to sack Mr Worner, the former assistant to fellow Seven exec Nick Chan, Amber Harrison, added further damaging allegations to her claim that the high-flying executive likes a bit on the side./ppThe claim that Mr Worner had carried on affairs with four other women, including two on-air stars, resulted in a Supreme Court suppression order after a website published the names of the other women./ppMr Worner, who denied the further allegations, apologised to staff by email on December 22, admitting that what I did was wrong./ppA lot of the allegations are factually incorrect but guess what, that doesnt matter anymore, he wrote. The one thing I am not doing is making any excuses. I obviously regret it and most of all I regret the unwelcome attention it has brought to the company and my family./ppThe embarrassing episode will serve as a reminder for corporate leaders of the dangers of intra-office affairs, with the damage to Sevens brand matched by the hit taken by its share price./ppbCLIVE PALMER/b/ppWho else could put a victorious spin on being the biggest loser of 2016?/ppFormer MP Clive Palmer has shed a third of his body weight after adding vegetables to his diet and cutting sugar, additives and salt./ppNow weighing in at just over 100kg, the billionaire businessman has focused on his health since retiring from politics at the Federal Election amid the controversy of his company Queensland Nickels $300 million collapse in April. /ppBut no amount of fat-burning can erase the colossal disaster that is his corporate affairs, with his day of reckoning looming after the failure of his High Court bid to have laws compelling him to give evidence declared unconstitutional. /ppThe companys collapse, which left 800 workers unemployed, is the subject of an ongoing Federal Court probe by liquidators FTI Consulting, who will continue grilling Mr Palmer in the witness stand in 2017./ppMr Palmer, who faces potentially being held personally liable for unpaid workers entitlements, has denied any wrongdoing and says hes not worried about the prospect of being questioned in court./ppbWINNERS ARE GRINNERS/b/ppbMARGOT ROBBIE /b/ppNot only did she star in three big films in 2016, but Australias hottest Hollywood star wed her director beau Tom Ackerley in a private ceremony in Byron Bay in December, rounding out a stellar year for the 26-year-old actor. /ppThe formeri Neighbours/i star, who got her big break alongside Leonardo DiCaprio in iThe Wolf of Wall Street/i, this year starred in iSuicide Squad/i, iWhiskey Tango Foxtrot/i and iThe Legend of Tarzan/i. She gave marriage equality a push while hosting i Saturday Night Live/i, became the face of Calvin Kleins new womens fragrance Deep Euphoria and topped Maxims Hot 100 list./ppBut perhaps the most memorable moment of Robbies year was when she appeared on the cover of iVanity Fair/i./ppThe blonde beauty responded with a dignified silence when the US magazine published a profile so patronising that it read like a parody article. /ppDescribing Robbie as like a freshly licked lollipop, the piece by contributing editor Rich Cohen was widely panned for its focus on the actors physical appearance, and its description of Australia as a nation populated by throwback people. /ppTaking the controversy in her stride, Robbie looks set for another busy year, having been cast in a long list of films includingVaughn Steins thriller iTerminal /iand iGotham City Sirens/i, which she will also produce./ppbPAULINE HANSON/b/ppAfter years in the political wilderness, serving only as the faded memory of a parody video in the consciousness of Australias youngest voters, Pauline Hanson is back and stronger than ever./ppThe former fish and chip shop owner still doesnt like it but it has morphed from Asian to Muslim immigration./ppAnd, after returning to Canberra to take a seat in the Senate alongside three of her running mates (now downgraded to two after Rod Culleton quit the party), the controversial One Nation leader is gearing up to spread her influence in state elections. /ppMs Hanson used her maiden speech to declare that Australia is in danger of being swamped by Muslims who bear a culture and ideology incompatible with our own, prompting the Greens to walk out of Parliament in protest./ppAnd while Mr Culletons resignation from the party has reduced her Senate voting bloc by a quarter, Ms Hanson insisted it was no loss./ppHe was not working with us as a team, she said, describing the wayward senator was ego driven./ppRod Culleton is a pain in my backside. I am glad to see the back of him, she said./ppbDERRYN HINCH/b/ppIts been a mixed year for The Human Headline. While being elected to the Senate in the Federal Election was a major coup, Derryn Hinchs personal life has suffered./ppThe former broadcaster and anti-paedophile campaigner admitted he was facing a lonely Christmas after a messy split with former girlfriend Natasha Chadwick./ppAnd his return to drinking alcohol five years after quitting and receiving a lifesaving liver transplant raised eyebrows./ppHinch, who insists that he only drinks a moderate amount of watered-down wine, dismissed Ms Chadwicks claim that he was hitting the bottle hard as a break-up beat-up./ppBut were pretty sure the Justice Party leader will be ticking off 2016 as a successful year, having pulled off the ultimate coup: Using parliamentary privilege to publicly name child sex offenders, the same rebellious act that has seen him jailed numerous times./ppHinch used his maiden speech to name at least five men he said had been convicted of child sex offences, after saying he did not intend to be a cowboy during his time in the Upper House, but would expose human vermin when he needed to./ppNow he just needs to achieve his lifelong goal of having a national register introduced, to be called Daniels Law after Daniel Morcombe./ppb dana.this site/b/p

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