Buy on Auction

BUYING ON AUCTION

Try view the property before the Auction date. It is your responsibility to inspect the property you intend purchasing.
Work your figures out before the Auction and have a maximum figure you opt out at if the bidding gets too high for you.
Arrive at the Auction an hour beforehand. Register, re-inspect the property and thoroughly go through the Conditions of Sale. Ask the Auctioneer any questions you may have.
Listen carefully to the auctioneer as he reads through the terms and conditions.
If you are the highest bidder you will be required to sign the conditions of sale immediately as well as pay your 10% deposit of the purchase price + auctioneers commission + advertising costs. Make sure you have access to your funds on the date of the Auction in order to effect EFT payment at the fall of the hammer.
Once the attorneys have received the Deed of Sale you will be required to produce a guarantee for the balance of the purchase price within a specific time period.