How BidAI helps you bid with a plan
Auctions reward preparation and punish improvisation. BidAI breaks preparation into three steps, so that by auction day there’s only one decision left: whether the bidding is still below your number.
1. Understand the property and the suburb
Start with context. Look at where the suburb sits nationally on socio-economic measures, how capital-city prices have moved recently, and which postcodes are similar. BidAI’s suburb insights tool turns ABS and market figures into plain English for any Australian postcode. Then gather comparable sales for the specific home: similar size, condition and location, sold recently.
2. Set two separate ceilings
Most overbidding happens when “what it’s worth” and “what I can afford” get blurred together. BidAI keeps them apart. Your property ceiling is what the evidence supports for this home, given what you’d actually pay for it. Your finance ceiling is your pre-approval plus your deposit, minus buying costs (stamp or transfer duty, legal fees, inspections), any immediate repairs, and a safety buffer you want to keep in the bank.
3. Bid to your walk-away number
The lower of the two ceilings is your walk-away number. Write it down, share it with whoever is coming with you, and decide in advance how you’ll bid: opening bid, increments, and when you’ll pause. If the bidding passes your number, you stop. Another property will come along. Paying more than your number stays with you for years.
A worked example
Say comparable sales support up to $1.41m for a home. Your pre-approval is $1.10m and your deposit is $350,000. Take off $65,000 in buying costs, $20,000 for repairs and a $25,000 buffer, and your finance ceiling is $1.34m. Your walk-away number is the lower figure, $1.34m, even though the evidence suggests the home could be worth more.
City guides
Frequently asked questions
What is a walk-away number?
The highest price you’ve agreed with yourself to bid for a property: the lower of your evidence-based property ceiling and your finance ceiling after costs and a buffer. When bidding passes it, you stop.
Is BidAI financial or legal advice?
No. BidAI is a decision-support tool. It helps you organise evidence and your own figures, but you should confirm finance, legal, valuation and property matters with qualified professionals.
Does BidAI store the figures I put into the calculator?
No. The calculator works out your numbers when you submit them and doesn’t save them to an account.
Which cities does BidAI cover?
Our guides cover Melbourne, Sydney and Brisbane, and the suburb insights tool works for any Australian postcode.
Work out your walk-away number
Use the free walk-away price calculator to see the most you can bid once stamp duty and buying costs are covered.