From Gavel to Sold: Understanding Australia’s Auction Craze
Australians’ use of house auctions has left many Americans baffled, with a viral video sparking surprise and curiosity. In Australia, auctions are a common and transparent method, often considered a neighbourhood event and used to achieve higher sale prices due to competitive bidding. In contrast, the U.S. primarily reserves auctions for foreclosures, favouring private negotiations instead. Experts note that Australia’s high-demand market makes auctions an effective strategy, reflecting the country’s distinct real estate culture.
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