• The property is offered for sale subject to a reserve price and, subject to the reserve price being met, the highest bidder whose bid is accepted by the auctioneer shall be the purchasers. 

• The auctioneer may nominate the sum by which the bidding can be raised. 

• The auctioneer may refuse any bid. 

• The auctioneer or the licenced real estate agent acting for the vendor in respect of the sale may submit a bid on behalf of any person. The auctioneer shall identify a person so acting before the commencement of bidding. 

• The vendor may bid personally, or by a representative, or through the auctioneer, provided that the bid is less than the reserve price. The auctioneer shall identify each vendor bid as it is made. 

• The vendor may withdraw the property at any time before it has been sold and without declaring the reserve price. 

• If a dispute arises concerning the bid, the auctioneer my determine the dispute or re-offer the property at the last undisputed bid. 

• The purchaser shall immediately on the completion of the auction:

             (a) Sign the Memorandum of Contract failing which the auctioneer may sign on behalf of the purchaser. ​

             (b) Pay to the vendor's licensed real estate agent the deposit being 10% of the purchase price unless otherwise agreed; and 

             (c) Complete it's GST information in Schedule 1. if applicable. 

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Any questions, feel free to call me and have a chat about all things Real Estate

Debbie 0274 - 328 -279