Auctions

An Auction is a public sale in which goods or property are sold to the highest bidder. Auction is one of the oldest and most successful forms of selling, with a history of proven success. Auctions allow sellers the opportunity to obtain the highest price in the shortest time and do not put a limit on the sale price.

Buying at Auction

You need to prepare before buying at auction. It is a good idea to go to a few auctions first to see how they work. The terms of a residential auction sale usually require the buyer to bid on an unconditional basis. The real estate agent can give you a copy of the terms and conditions before the auction date. Remember when buying at auction there is no cooling-off period. You need to view the property and do all the necessary checks before bidding. Getting an independent professional valuation is also a good idea. If you are the successful bidder at the auction, you will have to settle the contract even if the house is defective or you can´t afford it.

Terms of Sale by Auction

The terms of a residential auction sale usually require the buyer to bid on an unconditional basis. This means you cannot have any special conditions such as subject to finance or subject to the completion of another sale. Learn about Vendor Bids.

Auction Forms

Download a Bidder Registration Form. Download an Auction Reserve Price Notice. Download a Bidder’s Record. Learn about Selling your home by Auction. You may consider Bidding by Phone. Download Auction Terms & Conditions. Meet our Auctioneer. For answers to all your real estate questions, visit our Glossary of Real Estate Terms.