If you want to buy at auction, or make an offer before the set auction date, you must be prepared to make an unconditional offer according to the terms and conditions of that particular auction, which will be available to interested buyers. You must also be prepared to pay a deposit immediately (usually 10% of the purchase price) following the auction.
Buying before auction day
In most cases you can place an unconditional offer prior to auction day. If the offer is at an acceptable level to the client, all other registered customers will be contacted and the auction will be brought forward in accordance with Tremain Real Estate (2012) Limited’s Procedure for Pre-Auction Offers. Simply submit your offer in writing on the Auction Particulars & Conditions of Sale (ask your Tremains salesperson for a copy), accompanied by a 10% deposit cheque and with the following special clause added:
The offer shall remain open for acceptance by the vendor and may not be withdrawn by the customer until 6.00pm on the second working day after the offer has been first presented to the client.
Before making a pre-auction offer you need to have read, understood and signed the Procedure for Pre-Auction Offers. This form will be given to you by the Tremains salesperson. Your salesperson will also be able to assist you with your written offer should you wish to submit before auction day.