Auction purchase

Buying at public auction in NSW requires pre-registration with proof of identity to bid. The successful bidder signs and exchanges contracts immediately at the fall of the hammer and pays the depos...

The FAQ and process content on this page is general information about conveyancing in Australia, not legal advice. Obtain advice specific to your circumstances before acting on it.

Verified facts

• referenceDefinition: {"term":"Auction purchase","definition":"Buying at public auction in NSW requires pre-registration with proof of identity to bid. The successful bidder signs and exchanges contracts immediately at the fall of the hammer and pays the deposit on the spot. There is NO cooling-off period for auction purchases (nor for contracts exchanged on the same day as the auction after it is passed in), so building/pest/strata inspections and finance must be arranged beforehand.","primarySource":"https://www.nsw.gov.au/housing-and-construction/buying-and-selling-property/buying-property-nsw/buying-property-at-an-auction"}