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auction checklist
Arrange a home loan pre-approval so that you know what you can afford and
o STEP 1 your finances are ready for you to bid on a property at an Auction. To help you
get prepared, call our Auction Finance Specialists at Peard Finance on 9273 8955.
o STEP 2 Start looking for a property by contacting your local Peard Real Estate Sales
Office. Don’t forget to let the Sales Associate know that your finances are ready!
o STEP 3 Decide what features you want in a property, do your own research on different
areas, and get as much information as possible from the Sales Associate.
o STEP 4 Get a feel for the Auction process by attending various open homes and
auctions prior to bidding.
If you find a property you are interested in, ensure that you notify the Sales
o STEP 5 Associate representing the home and obtain a copy of the ‘Terms & Conditions
of Sale’.
If you have any questions, don’t hesitate to call your Sales Associate or speak
o STEP 6 with an Evolution Settlements Agent on (08) 9273 8977 who will review the
contract thoroughly for you. Your Settlement Agent may also recommend
different reports be conducted, such as building and pest inspection reports.
Decide how much you are prepared to spend on this property and what is the
o STEP 7 maximum you are prepared to bid. Mentally setting your maximum bid can stop
you from spending more money than might be reasonable.
Once you have found the property you wish to bid on, you will need to arrange
o STEP 8 a deposit, up to 10% or usually a fixed dollar amount around 5% of the purchase
price. A deposit bond is sometimes acceptable as an alternative (you may want
to check this with your Peard Real Estate Sales Associate).
If required, register to bid either by contacting the Sales Associate prior to
o STEP 9 Auction or as you arrive at the Auction. If you cannot make the Auction you can
authorise someone to bid and sign on your behalf. See the Sales Associate for
more information.
o STEP 10 Attend the Auction – a valid driver’s license or passport are usually acceptable
forms of identification, and make the winning bid!
o STEP 11 Pay the deposit and sign the contract.
o STEP 12 Contact Peard Finance to finalise your finance.
o STEP 13 Once the property has settled, usually around 30-60 days from Auction, you can
move into your new home!
for more information visit:
www.peard.com.au
