Watch out for shady property auctioneers

Fin24
2014-10-26 18:12
Post a comment 6

Johannesburg - If you are looking for a good property buy then be careful not to fall prey to fly-by-night auctioneers, warned an industry expert.

Auction Inc CEO Paul Winterstein told Fin24 in a video interview it is crucial that buyers attending an auction do a check on the auctioneers.

"Please to protect yourself, make sure that you are working with an auctioneer that has a good reputation," he cautioned.

"There are a lot of fly-by-night auctioneers, who do cause major harm to the industry."

Winterstein said auctioneers should be transparent about what is going on with the property and be accredited with governing bodies.

"There is the Auctioneers Association, which is a voluntary organisation but when I am selling property I am ... registered with the Estate Agents Affairs and ... all my accounts and all my dealings are audit by them."

Watch the full interview:




Winterstein also shared some tips with Fin24 for buying property on action.

He highlighted three key factors too look out for:

* Know what your limit is;
* Do comparatives; and
* Understand the value of the house.

Watch the full interview for Winterstein's most important tip:



 - Fin24

Have you found ways to bring value to your property? Or do you just have something on your mind about property? Add your voice to our Property Issue:

* Write a guest post
* Share a personal story
* Ask the experts


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
6 comments
Comments have been closed for this article.