Auction Preparation

Buying at auction can be exciting. Giving yourself time to prepare will help you bid with a clear understanding of the property and your budget. Ask the listing salesperson for the property documents and auction pack, and work through them with your lawyer.

Check the property before committing

An auction purchase is generally unconditional. Arrange the title, council information and condition checks before bidding. A viewing helps you understand the home; it does not replace a building inspection or legal review.

Use our Buying a Property guide to plan the wider checks. For land or a lifestyle property, also consider the services, access and land-use matters relevant to the actual address.

Confirm finance and the terms

Make sure your lender’s approval covers this property and your intended bid. General pre-approval can still have conditions. Understand the deposit, when it is payable and the settlement date before auction day.

Have your lawyer review the auction terms and agreement. If you need a different settlement date or another variation, arrange it beforehand and obtain the seller’s agreement in the required form. You cannot assume a finance or inspection condition can be added after you win.

Know how you will bid

Register your interest with the salesperson and ask about any change to the auction timing. Set your maximum before bidding and stay within what you can commit to. If you cannot attend, discuss the permitted bidding arrangements and any written authority required in advance.

Listen to the auctioneer’s terms and announcements. The listing agent represents the seller, so keep your own legal advice alongside the information they provide.

Understand what follows

A successful bid creates a commitment to buy; check the signing and payment requirements in the actual terms. If the property is passed in, negotiations may follow, and auction conditions can still apply. Ask before assuming a later offer can be conditional.

Read Settled’s auction guidance and the Law Society’s property guidance. If you have an auction in mind, its listing salesperson can talk you through the documents and arrangements. Your lawyer can help you understand what they mean for you.

See upcoming auctions, or send our team a message below if you have a question about the process.