If you thinking about bidding at an auction, we recommend you read the Office of Fair Trading’s Bidder’s Guide: www.fairtrading.nsw.
Once you win the bid or negotiations have been finalised, you will need to sign the sale contract and pay a 10% deposit which will be held in trust in an interest bearing account until settlement has been made.
Remember, if you have settlement on the same day. We recommended that you request a pre-settlement inspection before settlement takes place. This is to ensure that all the inclusions are as per the contract you signed and that you are satisfied with the purchase.
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