Understanding Property Auctions
Auctions remain a popular sales method in Australia, especially in Melbourne and Sydney. In 2025, high clearance rates continue in competitive markets. Properties sell "as is" with unconditional contracts—no cooling-off period in most states.
The excitement of a live property auction day.
Auctioneer in action—bidding can move fast.
Properties marketed for auction often attract strong interest.
Preparation Before Auction Day
- Get pre-approval for finance and set a firm limit.
- Obtain the Contract of Sale and Section 32/Vendor Statement early.
- Conduct building/pest inspections and strata searches (if applicable).
- Research comparable sales and attend other auctions.
Thorough due diligence is essential—no cooling-off after hammer fall.
Bidding Strategies for Success
Tactics: Start strong or wait for lulls; use odd amounts.
Options: Bid in person, phone, or online (increasingly common).
Passed In: Negotiate privately if not sold under the hammer.
Strategic bidding can secure your dream home.
After the Hammer Falls
Pay 10% deposit immediately; balance on settlement (usually 30-90 days). Contract is binding—no finance or inspection clauses unless vendor agrees.
The thrill of winning at auction.
Expert Conveyancing for Auction Purchases
Auction contracts must be reviewed beforehand. Specialists spot issues early and guide post-auction settlement.
For fixed-fee conveyancing in Victoria and Queensland—specialising in auction purchases, unconditional contracts, and fast settlements—consider First Class Legal. They prepare you to bid with confidence.
From auction win to moving in—made smooth with experts.