W
WebBoard
Guest
From: Phillip Monk
Hi all,
We're looking at bidding for a house which would become our PPOR, and renting out our existing PPOR.
I've got a few questions about auctions that don't seem to have been definitively answered in the archives.
1. Is the auctioneer, if asked, required to confirm or deny whether a bid was a vendor bid?
2. Is the auctioneer required to state, if asked, who made the previous bid (in case of dummy bidding etc)?
3. Is the auctioneer required to state when the price has reached its reserve?
4. If a property is passed in under reserve, does the highest bidder have any special rights to negotiate with the vendor, or could anyone make an offer at that stage?
The auction is taking place in SA.
Any information would be much appreciated!
Thanks,
Phil.
Hi all,
We're looking at bidding for a house which would become our PPOR, and renting out our existing PPOR.
I've got a few questions about auctions that don't seem to have been definitively answered in the archives.
1. Is the auctioneer, if asked, required to confirm or deny whether a bid was a vendor bid?
2. Is the auctioneer required to state, if asked, who made the previous bid (in case of dummy bidding etc)?
3. Is the auctioneer required to state when the price has reached its reserve?
4. If a property is passed in under reserve, does the highest bidder have any special rights to negotiate with the vendor, or could anyone make an offer at that stage?
The auction is taking place in SA.
Any information would be much appreciated!
Thanks,
Phil.
Last edited by a moderator: