Buyers Auction Preparation Checklist

Feeling unsure about where to begin as Auction Day approaches? Don’t worry; we’ve got you covered!

Ensuring you’re well-prepared involves several key steps:

  1. Property Familiarity
    • Have you personally visited and inspected the property?
    • Are you familiar with the key features and condition of the property?
  2. Contract Review
    • Have you received a copy of the contract from the listing agent?
    • Has your solicitor thoroughly reviewed the contract?
  3. Contract Amendments
    • Has your solicitor communicated and negotiated any necessary amendments with the vendor’s solicitor?
  4. Deposit Preparation
    • Have you decided on the deposit payment method? (10% unless otherwise arranged)
    • Personal/Bank Cheque
    • Deposit Bond
    • Electronic Funds Transfer (confirm transfer limit is acceptable)
    • Other (Specify): ________
    • Have you ensured your account has sufficient funds for the deposit?
  5. Contract Details
    • Have you determined the names to be included on the front page of the contract?
    • If you are purchasing in a corporation name or with a self-managed super fund, have you arranged a letter of authority that authorises you to purchase the property?
    • If you are purchasing with another person, have you arranged for both/all of you to attend the Auction and sign the contract if successful? If NO, please complete an Authority to Bid Form.
  6. Bidding Arrangements
    • If unable to attend the auction, have you appointed an authorised third party for bidding?
      • If YES, have you completed and submitted the Authority to Bid Form (either in person or via telephone)?
  7. Registration
    • Do you have your driver’s license ready for registration on auction day?
    • If no driver’s license, do you have valid photo identification and proof of address for registration?
  8. Bidding Confidence
    • Are you comfortable and prepared to bid without hesitation during the auction?
      • If NO, please contact the listing agent to discuss how we can coach you through this process or provide assistance on Auction day.
  9. Clarifications
    • Do you have any outstanding questions or concerns about the property sale?
      • If YES, please contact the listing agent for further clarification.