GETTING a little carried away on an eBay auction may not put you in too much trouble, but getting a little carried away at a property auction can place you under significant financial stress.<\/p>\n
There are a number of mistakes when setting bidding limits for an auction, but luckily if you avoid these common pitfalls, you can be assured that your competitive spirit won\u2019t get the better of you (or your wallet).<\/p>\n
Avoid stretching yourself too thin<\/strong><\/p>\n There are many hidden costs of buying a home, forgetting these when setting bidding limits is a common mistake.<\/p>\n Remember to account for the legal costs of buying a home, moving day costs, pest inspections, financing costs and insurance.<\/p>\n Once you have taken everything into account, you may find that your bidding limit is up to $25,000 lower than your initial estimations.<\/p>\n