B U Y I N G A T
A U C T I O N
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 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
Good luck!
3
2 2 bed bath car
8 Foothill Street, Elanora
FIRST TIME IN OVER 20 YEARS - ENDLESS POTENTIAL IN ELANORA'S BEST POCKET
Move straight in, update over time, or unlock its full value with a transformative renovation. Perfectly positioned on a rare, flat 761m² corner block in one of Elanora's most tightly held, family-friendly streets, this solid brick residence is being offered to the market for the first time in over two decades Brimming with natural light, space, and possibility, this single-level home delivers the ultimate lifestyle opportunity in one of the Southern Gold Coast's most sought-after enclaves. The interiors flow seamlessly between multiple living areas, a centrally positioned kitchen, and generous bedrooms, while the outdoors is all about low-maintenance living, large grassy spaces for kids and pets
DEPOSIT: $75,000 SETTLEMENT: 30 DAYS FROM CONTRACT DATE
Jo Nolan
0405 412 066
jo nolan@raywhite com
2 2 1 bed bath car
303/85 Golden Four Drive, Bilinga
SOPHISTICATED SEASIDE ESCAPE WITH OCEAN GLIMPSES
Step into relaxed sophistication with this beautifully appointed 2-bedroom apartment, set on the third floor of the boutique beachside building ‘Southbreak’. With just 20 residences and direct walkway access to Pacific Parade and the golden sands of Bilinga and North Kirra Beaches, it offers the ultimate in low-maintenance coastal living. Light-filled and stylish, the open-plan design includes a spacious living and dining area flowing onto a private balcony framed by greenery and ocean views.
John Parkes
0418 245 590
john parkes@raywhite com SOLD PRIOR TO
3
2 2 bed bath car
4/13 South Street, Coolangatta
BOUTIQUE BEACHSIDE LIVING ON THE CUSP OF COOLANGATTA & NORTH KIRRA
Offered for the first time in 20 years, this much-loved 3-bedroom, 2-bathroom apartment is set within Ashbrooke Court-a boutique complex of just nine residences on the cusp of North Kirra and Coolangatta The owners have cherished every moment here, and their reluctant sale now opens the door for a new chapter in one of the Southern Gold Coast's most desirable coastal settings Just a short stroll from some of the world's most beautiful surf beaches-including North Kirra Beach, recently named the 4th best beach in Australia-this enviable location offers a laid-back lifestyle with every convenience within easy reach
DEPOSIT: $75,000 SETTLEMENT: 45 DAYS FROM CONTRACT DATE
John Parkes
0418 245 590
john parkes@raywhite com
10 Frank Street, Labrador
PRIME RESTORATION OR REDEVELOPMENT OPPORTUNITY STEPS FROM THE BROADWATER
Offered to the market for the first time in over four decades, this rare opportunity presents a prime parcel in one of the Gold Coast's most rapidly transforming coastal precincts With an urgent must-sell directive, the property will be sold at or before auction, making this an unmissable chance for developers seeking to capitalise on the area's growth With its Medium Density Residential zoning, the site opens the door to a range of development outcomes (subject to council approval), from boutique apartments and stylish townhomes to an integrated mixed-use project that can cater to both residential and commercial needs
DEPOSIT: $70,000 SETTLEMENT: 30-60 DAYS FROM CONTRACT DATE
James Mulholland
0431 307 129
james mulholland@raywhite com
4
3 2 bed bath car
Westminster Boulevard,
Located on an expansive 4,656m² allotment, this charming cottage-style 4-bedroom home awaits its new owners
Enjoy your own peaceful, private oasis nestled amongst nature while still being just minutes from local amenities, pristine beaches, top schools, and public transport With space, serenity, and convenience all in one, this property presents the perfect balance of lifestyle and location Outdoors, the property continues to impress The front yard is perfect for children and pets to play, enjoy cool nights around the firepit, or soak up the sun by the pool during summer At the rear, a large shed offers excellent storage, plus ample space to park caravans, boats, trailers, or trucks Whether you are hosting on the deck, tending to vegetable gardens, or simply unwinding in the open air, this home has space for every lifestyle
4 3 3 bed bath car
1/6 Tuesday Drive, Tallebudgera Valley
LIFESTYLE, PRIVACY & DUAL LIVING - JUST 12MIN FROM BURLEIGH HEADS
Tucked away in a tranquil, leafy enclave just a short 12 minute drive from the coastline, this beautifully renovated low-set family home offers the perfect balance of privacy, lifestyle and convenience Set on a picturesque 3,185m² block with elevated views over natural surrounds, this property is your own private retreat-complete with lush lawns, landscaped gardens, and a stunning resort-style pool with spa Wide, covered verandahs span the length of the home, connecting seamlessly with a spacious timber entertaining deck and a peaceful rear courtyard-perfect for indoor-outdoor living all year round Inside, the residence exudes warmth and sophistication, with natural tones, quality finishes, and a flowing open-plan design
GST ANNOUNCEMENT AND CLARIFICATION
At the auction, the Auctioneer will announce in clear terms:
1 If GST is to apply or not; and
2 One of the following applicable GST Clauses
IF THE SELLER IS NOT REGISTERED FOR GST:
• The property is offered for sale on a GST inclusive basis – which means the knockdown price is the sale price
IF THE SELLER IS REGISTERED FOR GST:
• The property is offered for sale on a GST exclusive basis – which means the knockdown price attracts GST at
• The property is offered for sale under the Margin Scheme – which means that the knockdown bid is the sale
CONDITIONS OF SALE - PUBLIC AUCTION
1 All Bidders must be registered The Auctioneer may register a person as a Bidder only if the person has provided his/her name and address and satisfactory evidence of his/her identity If the Bidder is successful, the name listed on the registration form will be the name of the Buyer in the Contract of Sale, unless the Bidder is bidding on behalf of another person in accordance with Conditions 9 and 10
2 The highest approved Bidder will be the Buyer subject to: a the reserve price, if any; and b the Seller’s approval
3 A cooling-off period will not apply to any Contract of Sale formed on a sale by auction or entered into, by no later than 5 00pm on the second clear business day after the property was passed in at auction, with a registered bidder for the auction
4 The Buyer acknowledges that the Contract of Sale will not be conditional on any of the following: a Finance; and b Building and Pest Inspection Reports
5 Bids will only be accepted from registered Bidders
6 Bidders must use the numbered identifier provided by the Auctioneer to make a bid during the auction
7 The Seller reserves the right to bid, either personally or by a representative If the Seller or their representative bids for the property the Auctioneer must clearly announce to all other Bidders that the bid is made on behalf of the Seller
8 The Bidder warrants its ability to enter and complete the Contract of Sale in accordance with its terms 10% of the selling price; or price and GST payable by the seller is 1/11 of the margin
9 Any person bidding on behalf of another person must provide the Auctioneer with a copy of their written authority before the auction; otherwise, the Bidder will be taken to be acting on their own behalf The Auctioneer may register a person as a Bidder only if the person gives the Auctioneer the name and address of the other person for whom bids are intended to be made on instructions given by the other person by telephone.
10 If the Bidder is authorised to bid on behalf of another person and is the Buyer in accordance with condition 2, the Bidder warrants the other person’s ability to enter and complete the Contract of Sale in accordance with its terms
11 The Auctioneer has the discretion to refuse to accept a bid from any Bidder A bid will be taken to be accepted and irrevocable unless the Auctioneer refuses it If the Auctioneer refuses a bid, the Auctioneer must announce to all other Bidders that the bid has been refused
12 Without affecting condition 11, if there is any dispute over a bid or the result, the Auctioneer may: a re-open the bidding; and/or b determine the dispute in any other way the Auctioneer considers appropriate in his/her absolute
discretion
13 Immediately on the fall of the hammer the property is sold, the Bidder of the highest bid accepted in accordance with Condition 2, must sign, as Buyer, the Contract of Sale in the form displayed or circulated with these Conditions of Sale and pay the deposit to the nominated Deposit Holder
14 The deposit payable under the Contract of Sale is 10% of the successful bid or any other percentage or figure nominated in the Contract of Sale
15 The Seller and the Buyer agree to sign all documents and do everything else necessary to transfer the property to the Buyer The Seller and the Buyer each appoint the Auctioneer their agent to sign the Contract of Sale on their behalf This appointment is non-revocable
16 If the Buyer does not pay the deposit, at the Seller’s option: a the result of the auction will be treated as invalid and the property may be resubmitted to public
auction at the risk and expense of that Buyer; or
b the Seller may affirm the Contract of Sale and pursue their legal and other remedies against the
Buyer as they see fit
17 The decision of the Auctioneer is final in all matters relating to the auction
18 The Bidder consents to the use of electronic communication in accordance with the provisions set out in Chapter 2 of the Electronic Transactions (Queensland) Act 2001 (Qld) and Electronic Transactions Act 1999 (Cth)
19.If this document is signed using an electronic signature, the Bidder agrees to be bound by these conditions in electronic form and consent to signing this agreement using an electronic signature
B Y P U B L I C A U C T I O N F O R
1 The vendor’s reserve price must be given in writing to the auctioneer before the auction commences
2 A bid for the vendor cannot be made unless the auctioneer has, before the commencement of the auction, announced clearly and precisely that a bid may be made on behalf of the vendor by the auctioneer
3. The highest bidder is the purchaser, subject to any reserve price.
4 In the event of a disputed bid, the auctioneer is the sole arbiter and the auctioneer’s decision is final
5. The auctioneer may refuse to accept any bid that, in the auctioneer’s opinion, is not in the best interests of the vendor
6 A bidder is taken to be a principal unless, before bidding, the bidder has given to the auctioneer a copy of a written authority to bid for or on behalf of another person
7 A bid cannot be made or accepted after the fall of the hammer
8 As soon as practicable after the fall of the hammer the purchaser is to sign the agreement (if any) for sale
9 All bidders must be registered in the Bidders Record and display an identifying number when making a bid
10 One bid only may be made on behalf of the vendor by the auctioneer on behalf of the vendor.
11 When making a bid on behalf of the vendor, the auctioneer must clearly state that the bid was made on behalf of the vendor
12. Bidding by a co-owner or executor must be identified in the auction conditions.
