RWTE Online Auction Event - 5th May 2022

Online Auction Event

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BUYING AT AUCTION Auction is the most transparent way to purchase property, some of the benefits when you choose to buy at Auction include: You may encounter less competition for the property If a buyer is in a position to purchase at Auction, they may actually find they have less competition than if they seek to purchase priced property. This is because some buyers are not in a position to buy under the cash-unconditional terms of an Auction.

If a property is "passed in" at Auction (does not sell), often several buyers come forward afterwards seeking to buy with a range of special conditions attached to their offer eg. finance approval, building and pest inspections etc. This then places buyers in competition with each other post-Auction. Some buyers have secured excellent value at Auction simply because a cash-unconditional contract was a high priority for the seller who chose to take the highest offer under Auction conditions rather than considering conditional offers afterwards.

Competition at an Auction is transparent Property transactions are a process of negotiation and buying at Auction is no different.

If you wish to alter the terms of settlement, deposit, inclusions or conditions of the contract of sale, just speak to the Listing Agent. However, ensure you do not wait until Auction Day as this may be too late, these conditions must be agreed upon by the vendor prior to you commencing bidding. Although you are at liberty to request variations you may not always get your way, especially if there is strong interest in the property. If your conditions are not agreed upon prior to Auction do not be deterred. If the property is not sold at auction the vendor is often more receptive to conditional offers subsequent to the day. Just as there are benefits to a seller who chooses to market their property by auction, astute buyers may also benefit by the process. With an Auction, offers and negotiations are public - out in the open. With a private treaty sale (sale by price), if two or more buyers want the same property at the same time, it is standard practice that each buyer will not be aware of the offer being made by other buyers, meaning all competing buyers are "shooting in the dark". At Auction all offers are made publicly (in the form of bids) and a buyer can choose to increase their offer only as much as they want to pay above the last highest offer. This buyer is free to withdraw from the bidding any time they feel the price has gone beyond the figure they are prepared to pay.

Things to consider The terms of a residential Auction sale usually requires 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.

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 a finance clause or subject to the completion of another sale.

Before the Auction, make sure you:

Inspect the property Do all the necessary checks such as a building and pest inspection Arrange your finance, keeping in mind the repayments you can afford now and if interest rates go up Do your own research of the market Set a budget and stick to it Ask the agent how much is needed for the deposit and how you need to pay it on the day Get a copy of the contract and think about getting legal advice about the terms and conditions of the Auction to ensure you understand what you will be bound buy if you are the successful bidder.

CONTINUED...

On Auction day On the day get a copy of the terms and conditions of the Auction before the Auction begins, these should be read out to prospective bidders before the Auction starts.

Check with the Auctioneer, make sure there are no changes to any contract you may have already been given. You can also ask questions about the property before the bidding starts. If you want to bid, register with the Auctioneer before the Auction starts. The Auctioneer will give you a unique identifier such as a numbered paddle. Only registered bidders can bid on the day.

Set a budget before the Auction and stick to it. If you are the successful bidder, you must sign a contract immediately. There are serious legal ramifications if you cannot settle whether you had a loan approved or access to the money, or you may be asked to pay for the cost of re auctioning the property and any shortfall between your offer and the offer received at the next Auction.

If you are the highest bidder and property doesn't reach the reserve price, you have first right to negotiate after Auction. If you agree to accept a contract after Auction, you do have the five-day cooling- off period protection.

Vendor Bids In Queensland, Auctioneers are allowed to accept 'vendor' (seller) bids up to the reserve price. The property is then 'on the market'. Vendor bids must be announced in the conditions of sale at the beginning of the Auction.

It is illegal for Auctioneers to make "dummy bidding" or take false bids once the property is on the market and any bid where there is no genuine bidder is a false bid. The Auctioneer reserves the right to bid on behalf of, or accept, bids from the owners of the property.

Good luck!

Lot 1

4

bed

2

bath

4 car

78 Bergamont Street, Elanora BERGAMONT BEAUTY! Instructions are clear - property ready to move in must be sold on or before Auction Day with all offers considered prior!! Tucked away in a tightly held pocket of Elanora with a central location, this fantastic family home featuring extra parking and fenced flat yard space is available to the market for the first time in over 30 years.

Deposit: $60,000

Settlement: 21 - 45 Days

Daniel Tavener

Dion Zorko

daniel.tavener@raywhite.com

dion.zorko@raywhite.com

0431 837 814

0416 516 652

Lot 2

3

bed

2

bath

6 Winders Avenue, Tugun A DREAM LOCATION PACKED WITH POTENTIAL! Owners have purchased elsewhere - Property must be sold! Perched on an elevated 516m2 block of Medium Density land at the peak of Winders Avenue resides this glorious Tugun classic! Owners have purchased elsewhere - Property must be sold!

Perched on an elevated 516m2 block of Medium Density land at the peak of Winders Avenue resides this glorious Tugun classic!

Deposit: $75,000

Settlement: 30 Days

John Parkes 0418 245 590

john.parkes@raywhite.com

2 car

Lot 3

6

bed

5

bath

2 Clare Court, Tallegbudgera Valley DUAL LIVING DREAM! These two separate homes on the one title combine every possible comfort in offering the ultimate in acreage lifestyle living for your family. The resort-style comfort of this dual home acreage property will surprise and delight you.

Deposit: $100,000

Settlement: 60 - 90 Days

Laura & Robbie Robinson 0416 167 813

laura.robinson@raywhite.com

8 car

Lot 4

3

bed

1

bath

401/4-10 Douglas Street, Coolangatta KIRRA GEM! WILL BE SOLD! Just one look is all you need! Offering a functional open-plan layout comprising of 3 bedrooms, 1.5 bathrooms, built-in-robes, well-equipped kitchen & a spacious living/dining area, this privately positioned apartment makes it the ideal spot to sit back and relax and enjoy the ocean views and sea breezes throughout.

Deposit: $50,000

Settlement: 60 Days

Shane Seghers Alicia Wilkins 0420 301 605

shane.seghers@raywhite.com

0402 630 593

alicia.wilkins@raywhite.com

2 car

Lot 5

2

bed

1

bath

1

car

6/18 Bienvenue Drive, Currumbin Waters EASY WATERFRONT LIVING Located in the peaceful heart of Currumbin Waters this low maintenance townhouse presents the perfect entry level or downsizing opportunity. Boasting direct water views offering privacy & tranquillity and only a short stroll to nearby parklands, lake & local shopping centre, this is truly a lifestyle purchase not to be missed!

Deposit: $40,000

Settlement: 35 - 60 Days

Daniel Tavener

Dion Zorko

daniel.tavener@raywhite.com

dion.zorko@raywhite.com

0431 837 814

0416 516 652

Lot 6

4

bed

2

bath

3

car

6 Mirreen Drive, Tugun CHARACTER FILLED RESIDENCE IN THE HEART OF TUGUN Set on the high side of the ever-popular Mirreen Drive in Tugun on a corner block - this character filled residence certainly has dream home potential. This 530m2 elevated block offers split level living creating the perfect oasis for your family. This location offers the best of both worlds as its surrounded by greenery in a quiet location whilst only being minutes away from world class beaches and surf breaks.

Deposit: $50,000

Settlement: 30 Days

John Parkes 0418 245 590

john.parkes@raywhite.com

Lot 7

4

bed

3

bath

234 Trees Road, Tallebudgera THE ONE YOU'VE BEEN WAITING FOR! You really have the best of both worlds with this great property in a superb location which offers a genuine rural feel yet so close to our wonderful amenities. How uplifting is it to be so close to nature away from the hustle and bustle and still only minutes to a selection of our truly world class beaches, café's, restaurants, shops and schools.

Deposit: $80,000

Settlement: 60 - 90 Days

Laura & Robbie Robinson 0416 167 813

laura.robinson@raywhite.com

4 car

Lot 8

2

bed

1

bath

1

car

11 Singh Street, Tugun LOCATION & LIFESTYLE WITH FUTURE DEVELOPMENT POTENTIAL! Deceased Estate - Property must be sold! This much-loved original two bedroom, one bathroom home has been in the same family for over 20 years, offering a total blank canvas to create your forever home or humble beginnings for the first home buyer, the opportunities are endless!

Deposit: $50,000

Settlement: 30 Days

John Parkes 0418 245 590

john.parkes@raywhite.com

CONDITIONS OF SALE BY PUBLIC AUCTION FOR REAL PROPERTY OF QUEENSLAND 1. Any person intending to bid must register before making a bid, and upon making a bid the bidder must clearly display the bidder number assigned to them by the auctioneer as bids will only be accepted from registered bidders 2. The highest approved bidder shall be the Buyer subject to the Seller's approval and the reserve price, if any.

3. The Auctioneer may at his discretion refuse to accept any bid from any person, and no bid if accepted may be retracted without the consent of the Auctioneer. No bidder shall advance a less sum or percentage at any bidding than the Auctioneer is willing to accept.

4. A bid shall be deemed to be accepted unless the Auctioneer forthwith after it has been made declares his non-acceptance or dissent.

5. If any dispute or difference shall arise as to the highest bidder the Auctioneer may reopen the bidding and resubmit the property commencing with the highest amount previously bid for the same or he may decide on the highest bidder in such other manner as he in his absolute discretion shall deem fit and his decision shall be final.

6. Immediately upon the fall of the hammer the bidder of the highest bid accepted shall sign these conditions of sale and purchase and forthwith pay the deposit required and shall thereupon be deemed to be the Buyer, otherwise the property may be resubmitted at his or her risk and expense or submitted afresh to Public Auction as if the property had never before been submitted 7. The right to bid by or on behalf of the Seller is expressly reserved.

8. The Seller and the Buyer agree to do all necessary acts and to sign all documents and papers for the purpose of transferring the property to the Buyer. They also appoint the Auctioneer as their Agent and grant him an irrevocable authority to sign all documents and papers necessary to form the agreement for sale and purchase of the property.

9. A bidder shall be deemed to be acting on their own behalf unless, prior to bidding he/she has given the Auctioneer a copy of a written authority to bid for, or on behalf of, another person.

10. The conditions then to apply are as contained in the Real Estate Institute’s copyright form of Contract and Terms of Contract for Houses and Land Eleventh Edition, Units and Townhouses Seventh edition, and/or any other contract of sale that has been on display prior to auction. Clause 3, the finance clause, does not apply and Clause 4, the Building or Buyers Inspection Clause does not apply. All bidders at this Auction and, more particularly, the successful bidder shall be deemed to have been given, and to have read and acknowledged the 'Contract Warning' and the 'Disclosure Statement' under the Body Corporate and Community Management act 1997 which are annexed to the contract of sale by virtue of the fact that they have been on display prior to this Auction N.B: IN ACCORDANCE WITH THE TERMS OF AUCTION NO COOLING OFF PERIOD WILL APPLY. The auctioneer may, at his/her discretion during the in-room auctions, elect to pause an auction and continue in the order. All auctions will be re-opened to the public and either sold or passed in, prior to the closing of the auctions.

MEET GAVIN CROFT RAY WHITE QUEENSLAND CHIEF Joining the Ray White QLD team in 2021 in his role as Chief Auctioneer, Gavin principally works in the Auction Arena for Ray Whites network of offices throughout the state. The award winning Auctioneer & trainer is known for consistently achieving a clearance rate well above the industry average.

MEET CONNOR SUMMERS CLIENT ADVISOR AT LOAN MARKET GC Buy your new home sooner. Getting on the property ladder doesn't have to be daunting. at the same time we can provide you with important information on the suburbs and properties your interested in, our Loan Market Broker Connor can help you secure the right finance for your dream home.

0416 838 673

MEET JAMES MULHOLLAND NEW BUSINESS DEVELOPMENT MANAGER Maximise your investment returns! James looks after our leasing nd new business ensuring our clients enjoy a smooth and seamless transition. His drive for success helps to ensure that each of our landlords receive the experience and commitment they deserve.

0431 307 129 james.mulholland@raywhite.com

connor,summers@loanmarket.com.au

"IF YOU WANT TO GO FAST, GO ALONE. IF YOU WANT TO GO FAR, GO TOGETHER" #BETTERTOGETHER

John Tymon

Caroline Tymon

Principal

Erin Dawe

EA to John Parkes

Accounts/Contracts

Josh McKenzie

Buyers Agent to John Parkes

Alicia Wilkins

Property Consultant

Dion Zorko

Property Consultant

Camilla Skye

EA to Team Robinson

Mekayla Quinn

Elanora Sales Support

Kelly Walker

John Parkes

Daniel Tavener Property Consultant

Stephen Hay

Emily Pye

Tugun Sales Support

Strategic Operations

Ken Jacob

Daniel Jeffries

Property Consultant

Property Consultant

Property Consultant

Courtney Tymon

Selling Principal

Laura Robinson Property Consultant

Jon Blake

Tup Curtis

Database Specialist

James Mulholland

Kellie Twidale

Sharyn Haag

Tara Di Manno

Annalise Sunderland Property Management

Property Consultant

Mick Main

Marketing & Events

New Business Development

Property Manager

Robbie Robinson

Property Consultant

Head of PM

Property Manager

Property Consultant

Jesse Richards

Property Consultant

Leasing Agent

Shane Seghers

Sarah Goodman

Property Management Assistant

Kris Klavina

Property Management

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