House auction conditions of sale
- All prospective bidders are required to register their name and address with the auctioneer prior to bidding. Satisfactory evidence of identity must be provided. All registered bidders will be issued with a numbered bidder’s card. No bid will be accepted from any unregistered bidder.
- The highest approved and acknowledged bidder shall purchase subject to reserve and bidders are responsible for the recognition of their alleged bids.
- Where in respect of any lot to be offered for sale Transmission by Death in favour of the Vendor has not been registered on the relative title by the Registrar of Titles as at the date hereof, such sale is conditional upon such transmission.
- Terms shall be strictly cash and the purchaser shall pay an immediate deposit of 5% of the purchase price and contract to pay the balance of the purchase price within 42 days from the date hereof, except that in any sale which is subject to the registration of transmission by death in favour of the vendor, such balance of the purchase price shall be paid within 30 days following notification in writing by the vendor to the purchaser of the registration of such transmission by death or within 42 days from the date hereof whichever is the later.
- The auctioneer shall determine any dispute absolutely and his decision shall be final and binding. He may resubmit any lot at his discretion to resolve any error, dispute or default.
- No bidder shall advance less than the sum named by the auctioneer.
- No bid shall be retracted and the auctioneer may refuse any bid.
- The vendor reserves the right to bid in person or by his auctioneer as often as he shall think fit and may withdraw the property at any time during the sale.
- The vendor and the purchaser shall execute a contract prepared by the vendor on the form of contract adopted by the Real Estate Institute of Queensland including such special conditions as may be applicable in accordance with these conditions of sale.
- The auctioneer is not responsible for the correct description, authenticity of, or any fault or defect in any lot and makes no warranty whatever.
- The highest bidder for a passed in lot has the exclusive right to negotiate until the end of the auction or any other time specified by the auctioneer.
- Time is of the essence in regard to these conditions.
- No waiver of these conditions will be valid unless in writing by the Public Trustee.
- If GST is payable in respect of the supply of real property:
The seller is registered for GST purposes.
GST is payable on the supply of the property that is to be auctioned.
Bids must be made and will only be accepted as GST-inclusive bids.
- If GST is not payable in respect of the supply of real property:
GST is not payable on the supply of the property that is to be auctioned.
PLEASE NOTE: NO GST IS PAYABLE ON ANY RESIDENTIAL PROPERTY CONTAINED IN THIS CATALOGUE UNLESS SPECIFIED.
N.B. Bidders are requested to position themselves in reasonable manner and to bid distinctly. They may interrupt at any time with any reasonable question.