Auctioning is the process of buying and selling goods, or services, by offering them for bidding. Bids are taken, and the items are sold to the whoever bids the highest amount. This can be a great way to receive the best deal on your property as interest fuels demand.

At an auction, interested buyers will bid for your property and the highest bid wins the auction. The property is deemed under offer when the hammer strikes, and the winning bidder is obligated to purchase the property by putting a 10 per cent deposit down to secure the sale. The sale will then be completed within a month, when the remaining 90 per cent of the funds are transferred.