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
3
2 2 bed bath car
6 Coolamon Court, Tugun
RUSTIC GRANDEUR WITH A COASTAL SOUL
Perched on an elevated 857m² corner block, this character-filled double-storey home offers a rare fusion of rustic farmhouse charm with a touch of tropical soul. With two access points from the street, a fully fenced flat backyard, and ample space to park your boat or caravan, it feels like a peaceful countryside escape-just minutes from the beach. Inside, soaring timber-raked ceilings and rich hardwood floors set a warm, welcoming tone Light-filled and airy, the home's generous proportions and thoughtful layout create a relaxed, effortless flow throughout
DEPOSIT: $100,000 SETTLEMENT: 30 DAYS FROM CONTRACT DATE John Parkes 0418 245 590
john parkes@raywhite com
2 1 1 bed bath car
1/12 Maud Street, Tugun
LOW-MAINTENANCE LIVING IN PRIME BEACHSIDE POSITION John Parkes 0418 245 590 john parkes@raywhite com
Tucked away at the rear of the block, this single-level duplex offers exceptional privacy and potential in one of Tugun's most desirable beachside locations Ideal for first-home buyers, downsizers, or savvy investors, this low-maintenance property is a blank canvas ready to be transformed The bright and breezy living and dining area, complete with split system air conditioning, flows effortlessly to a fully fenced outdoor space A covered patio extends the living area outdoors and is accompanied by a handy storage shed-ideal for surfboards, tools, or beach gear
DEPOSIT: $50,000 SETTLEMENT: 30 DAYS FROM CONTRACT DATE
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.
