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
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
3 2 1 1
6 Balsa Street, Elanora
YOUR COASTAL CANVAS IN ELANORA
Looking for that elusive "perfect start" in one of the Southern Gold Coast's most sought-after pockets? 6 Balsa Street offers the ultimate entry-level opportunity for first-home buyers, savvy renovators, or anyone looking to secure a solid slice of Elanora real estate. This clean, tidy, and incredibly bright home is perfectly livable as is, allowing you to move in and find your feet while you plan your dream transformation.
DEPOSIT: $75,000 SETTLEMENT: 30 DAYS FROM CONTRACT DATE
6/111-113 Golden Four Drive, Bilinga
THE SOUTHERN GOLD COAST AT ITS MOST EFFORTLESS
Positioned within the tightly held seaside complex of Pacific Cove, this welcoming ground-floor apartment delivers the kind of lifestyle buyers quietly wait for Thoughtfully designed for relaxed coastal comfort, the open-plan kitchen, dining, and living zone flows seamlessly to an oversized wraparound patio overlooking the complex pool - creating a private retreat ideal for entertaining, unwinding, or simply enjoying the ocean air.
DEPOSIT: $50,000 SETTLEMENT: 30 DAYS FROM CONTRACT DATE
SOLDPRIORTOAUCTION
3 3 2
3 Castle Court, Tugun
ELEVATED FAMILY LIVING WITH EXPANSIVE ENTERTAINING SPACES
Positioned to capture both space and lifestyle, 3 Castle Court offers a beautifully designed home with dual-level living and exceptional outdoor entertaining. At the heart of the upper level, an open plan living and dining area flows seamlessly onto a generous deck, creating the perfect setting for hosting or unwinding Timber flooring throughout adds warmth and character, while the well-appointed kitchen features gas cooktops and an electric oven for effortless everyday living A home designed for comfort, space and easy coastal living, this is an opportunity not to be missed.
2 1 1 4
29/9 Domain Road, Currumbin
LOW MAINTENANCE LIVING JUST MOMENTS FROM THE BEACH
Designed for comfort and practicality, the home features two generously sized bedrooms with built-in robes, a light-filled open-plan living and dining area, and a private balcony perfect for enjoying your morning coffee or unwinding in the fresh air. The split-level layout adds a sense of space and separation, ideal for both everyday living and entertaining. Additional features include a secure single lock-up garage and access to a sparkling shared pool, offering a touch of resort-style living and the perfect place to relax year-round
DEPOSIT: $50,000 SETTLEMENT: 60-90 DAYS FROM CONTRACT DATE
3
2 2
8 Ellioh Court, Elanora
SUPERB LOCATION!
Tucked away in a peaceful cul-de-sac, this beautifully presented single-level home delivers the perfect balance of comfort, space, and relaxed coastal living Set on a generous 858m² block, the property offers privacy and functionality while being just minutes from stunning beaches, parklands, and everyday conveniences. Positioned close to pristine surf beaches, quality schools, sporting facilities, and local shopping, this location truly captures the essence of coastal living. With easy access to major transport routes and the airport just a short drive away, everything you need is within reach.
DEPOSIT: $80,000 SETTLEMENT: 30-45 DAYS FROM CONTRACT DATE
13/41 Dixon Street, Coolangatta
A BEAUTIFUL PLACE WITH PLENTY OF SPACE - THREE BEDROOMS & THREE BATHROOMS
Enjoy the ultimate lifestyle with world-class surfing, vibrant cafés, and the buzzing Coolangatta/Tweed precinct all just a short stroll away The modern kitchen will impress with quality appliances, ample storage, and gas cooking, perfect for everyday living or entertaining. The master suite features its own ensuite, while two additional double bedrooms (with built-ins and ceiling fans) are serviced by a stylish main bathroom. Make no mistake, properties like this, with motivated sellers and a firm deadline, do not last long BE QUICK!
DEPOSIT: $80,000 SETTLEMENT: 60 DAYS FROM CONTRACT DATE
6
4 4
55 Westminster Boulevard, Elanora
PRIVATE RETREAT WITH DUAL LIVING, EXPANSIVE GROUNDS & RESORT-STYLE LIVING
Set on a beautifully maintained, level block surrounded by lush greenery, this exceptional residence delivers space, versatility, and a seamless connection to the outdoors With multiple living areas designed for both relaxation and entertainment, this home caters perfectly to families seeking comfort and functionality. The dual living layout provides privacy and flexibility, ideal for multigenerational living or accommodating guests. Expansive grounds offer plenty of room for outdoor activities, gardening, or simply enjoying the peaceful natural surroundings
DEPOSIT: $150,000 SETTLEMENT: 60-90 DAYS FROM CONTRACT DATE
3/14 Hillcrest Avenue, Tugun
A TRULY UNIQUE OFFERING IN A BOUTIQUE COMPLEX OF FOUR
Positioned in a sought-after pocket of Hillcrest Avenue, this truly unique townhouse-one of just four in a boutique complex-presents an exceptional opportunity for flexible family living or a savvy investment. Thoughtfully configured across two levels, the upper residence offers a well-appointed three-bedroom, two-bathroom layout, complete with two renovated bathrooms including a main and ensuite Accessed via the front balcony, this light-filled level provides comfortable everyday living with a sense of privacy and separation
DEPOSIT: $75,000 SETTLEMENT: 60 DAYS FROM CONTRACT DATE
2 1 1 9
146 Cypress Terrace, Palm Beach
PRIME PALM BEACH LOCATION!
Positioned in one of Palm Beach's most desirable pockets, 146 Cypress Terrace presents a rare opportunity to secure a generous parcel of land in a highly sought-after coastal location Set on an expansive block, this property offers exceptional space and flexibility-perfect for those looking to build their dream home, renovate, or invest in a premium piece of real estate. The substantial land size provides ample room for outdoor living, landscaping, or future enhancements, making it a standout offering in today's market.
DEPOSIT: $60,000 SETTLEMENT: 30-60 DAYS FROM CONTRACT DATE
2
2
24 Nangana Street, Tugun
ELEVATED ELEGANCE IN A TRANQUIL TUGUN SETTING
Experience an elevated take on Tugun living Privately positioned at the end of a peaceful cul-de-sac on an expansive 3,853m² parcel, this fully renovated residence delivers a striking blend of architectural design and natural beauty. Surrounded by a lush canopy for complete seclusion and capturing sweeping views across Tugun to the ocean, it offers a tranquil lifestyle just moments from the coastline. A crisp white façade makes an immediate impression, hinting at the refined interiors beyond
DEPOSIT: $100,000 SETTLEMENT: 30 DAYS FROM CONTRACT DATE
10% of the selling price; or
price and GST payable by the seller is 1/11 of the margin
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
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
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 b the Seller may affirm the Contract of Sale and pursue their legal and other remedies against the
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 discretion auction at the risk and expense of that Buyer; or Buyer as they see fit
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
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 connor summers@loanmarket com au
MEET
SHANE SEGHERS
INVESTOR SPECIALIST
Maximise your investment returns! Sgane looks after our new business for investors, ensuring our clients enjoy a smooth and seamless transition His drive for success helps to ensure that each of our new landlords receive the experience and commitment they deserve
