Auctions can sometimes seem daunting, but as long as you’re prepared before you bid, there’s no reason an auction needs to be any riskier than buying by private treaty.

Buying property at auction is very different to the more traditional method of real estate sales. Although you may still view the property at an open home prior to the auction (during the marketing campaign), the bidding process is public and immediate, with buyers competing against each other.

The most important difference between the two systems is that when the hammer falls on auction day and you are the highest bidder, you will need to sign the contract then and there.

Due to the binding nature of auctions, it is important for buyers to do their due diligence before the auction day.

Everything you need to know about buying a property at auction

From pre-auctions offers and registration, through to tips on knowing your financial capacity and being ready for success, this auction checklist covers it all. We’ve even included a glossary of some of the most commonly used auction terms. 

Download the fact sheet

Download the fact sheet to learn more about NSW auctions and how to prepare for a successful bid.