Can someone please tell me what are the conditions of sale on Auction day?
Do you have to sign the contracts that day and can you put an out clause in the contract?
After you have the highest bid can you still make the sale subject to building approval and finance?
Do you still get a 5 day cooling off period?
I have not purchased at auction previously but will be making a bid for a property on Saturday. From my own inspection there is structural damage but still need to investigate how much and the cost to repair. I also need to get approval for finance but do I need to get both of these sorted prior to auction?
Do you have to sign the contracts that day and can you put an out clause in the contract?
After you have the highest bid can you still make the sale subject to building approval and finance?
Do you still get a 5 day cooling off period?
I have not purchased at auction previously but will be making a bid for a property on Saturday. From my own inspection there is structural damage but still need to investigate how much and the cost to repair. I also need to get approval for finance but do I need to get both of these sorted prior to auction?