It is preferred that you register prior to the Auction to avoid lengthy delays. We will not be able to take registrations once the auction has started.

You will not be able to attend the auction unless you are a registered bidder.

Preparing to bid at Auction can often be an emotional time. We have put together the following information to hopefully prepare you and relieve some of the unnecessary stress that people often associate with purchasing a property at an Auction.

Here are a few benefits for buyers when it comes to Auction day:

• You know the vendor is motivated to sell
• You know exactly where you stand every part of the way
• You have the ability to know where you stand in the bidding process
• You have time to prepare beforehand
• Eliminates negotiations with agents
• The price paid should represent the true market value

There are certain steps that should be followed to ensure you are ready and able to bid at an Auction

1. Inspect the property by private appointment as early as possible in the marketing campaign
2. Speak to the agent selling the property and ensure they are aware of your interest
3. Obtain a copy of the contract and other relevant documents prior to the Auction day
4. Revisit the property, or continue to view the property using the virtual tour option if necessary
5. Appoint a solicitor and have them review the contract
6. Ensure your finances are in order and you have the funds available to pay the deposit should you be successful
7. Call the agent prior to discuss any last minute questions
8. If you require the agent or anyone else to bid on your behalf , appropriate documentation is required
9. Pre-register with the agency
10. Be confident and comfortable

Residential and rural property auctions

You will not be able to bid at an auction of residential and rural property in NSW unless you give the selling agent your name and address, vaccination certificate and show proof of your identity. Your details will be recorded by the agent in the Bidders Record and at the auction you will be given a bidder’s number. Registering for an auction does not mean you must bid. Registering simply gives you the right to bid.

Who needs to register?

If you are bidding to buy the property jointly with another person, for example, a spouse or partner, only one of you needs to register.

You need to register if you are bidding for another person or a company, and you need to show the agent a letter of authority from them, authorising you to bid on their behalf. This also applies if you are bidding on behalf of someone on the telephone. If you are bidding for another person the letter of authority must include the person’s name, address and the number on their proof of identity (eg. driver’s licence). If you are bidding for a company the letter of authority must be on the company letterhead and the ABN will be recorded in the Bidders Record as the company’s proof of identity.

Proof of identity

To register, you must present your vaccination certificate and a card or document issued by the Government or a financial institution, that shows your name and address, for example:

• driver’s licence or learner’s permit
• vehicle registration paper
• council rates notice.

If you do not have this kind of proof of identity, you can use two documents that together show your name and address. One must show your name and be issued by a government or financial institution, for example:

• passport
• Medicare card
• ATM/Eftpos card
• credit card or store card
• birth certificate
• citizenship papers.

The other must show your address, for example:

• Utilities bill (eg. gas, electricity, telephone)
• Real estate rental agreement
• Statutory declaration stating your address

When to register

You can register with the selling agent at any time prior to the auction, such as when you inspect the property, or on the day itself.

If you pre-register, you will still need to show the agent your proof of identity on auction day. The agent will then give you your bidder's number.

What happens at registration

The agent will write your name, address and the number of your proof of identity in the Bidders Record and, if you are bidding for someone else or a company, their name, address and proof of identity details. The agent will then give you your bidder’s number, which must be displayed when you bid.

Your privacy

The agent is not permitted to show the Bidders Record to anyone, including the property owner. Only an authorised person from NSW Fair Trading is permitted to see the Bidders Record.

The agent must store the Bidders Record securely and cannot use it for any purpose.

Auction conditions

This auction is being conducted under certain conditions that are set by law.

Successful bids

If you are the successful bidder, you must sign the sale contract and pay a deposit on the spot, usually ten per cent of the purchase price. There is no cooling-off period when you buy at auction.

After the exchange of contracts, your solicitor or conveyancer will carry out various searches on the property. Your solicitor and the seller’s legal representative will then arrange for settlement at which time you must pay the balance of the purchase price.

Dummy bidding and collusion

It is illegal to make dummy bids at an auction.

The seller of the property is entitled to have one bid made on their behalf by the auctioneer. When the seller’s bid is made the auctioneer must announce it as a vendor bid. If you make dummy bids for the seller, you may be prosecuted and fined up to $55,000.

The property seller who asked you to bid can also be fined up to $55,000, as can the agent and the auctioneer if they were involved in the arrangement. It is an offence to collude with someone to interfere with free and open competition at the auction. This offence carries a maximum fine of $55,000.

Peter Baldwin is acknowledged as being Australia’s finest property Auctioneer. As a third generation Auctioneer with a Bachelor of Business in Land Economy majoring in Valuation, Peter is admired for having the strongest ethic in representing his client and their property. As a major point of difference, he inspects every property he auctions and maintains a disciplined level of communication with the Selling Agent which he sees as crucial in achieving the best auction result.

His record-breaking career is underpinned by scores of milestones including being the youngest auctioneer of all time to auction Sydney CBD commercial property and later being appointed as the youngest-ever Chief Auctioneer in the Sydney Property market. His career has seen him consistently achieve the utmost success in all peaks and troughs of the property market. He remains today the preferred choice Auctioneer for high net worth, architecturally significant, and iconic properties throughout Australia.

0418 214 399 | 02 9191 4302

Clarence White is a four-time winner of the Real Estate Institute of NSW Award for Excellence in Auctioneering (2014, 2017, 2018, 2020) and one of Australia’s leading real estate auctioneers. Clarence spent 6 years calling auctions within two leading networks before establishing his own independent auction business in 2018. Clarence works with high-performing agents in Sydney’s key prestige marketplaces in the eastern suburbs, inner west, north shore and beaches. In addition to his auctioneering work, Clarence has held real estate roles as a sales agent, sales manager, operations manager and general manager, giving him a depth of knowledge and experience in real estate that enables him to value add around the auction process by assisting with pre-auction, auction-floor and post-auction conversations, negotiations, strategy and training.

clarencewhite.com.au | 0418 687 372 | cw@clarencewhite.com.au