Before the Auction
Most first home buyers don't realise that auction preparation starts days or weeks before bidding. The vendor's agent will have the Contract of Sale and Section 32 available for inspection. You need these documents reviewed before you register to bid.
Send us the contract and Section 32 as soon as you receive them. We'll complete your pre-auction contract review within 24 hours. Our report explains every significant clause, identifies risks, and highlights anything unusual. We use plain language, not legal jargon.
If we find issues that need addressing, we'll draft amendment requests for you to submit to the vendor's solicitor. Common requests include extending the settlement period to give your lender more time, reducing the deposit percentage, or removing problematic special conditions. These negotiations happen before auction day. Once bidding starts, the contract terms are locked in.
On Auction Day
When you're the successful bidder, you'll sign the contract immediately. The deposit is typically due that day or within a few business days. There's no cooling-off period for auction purchases in most states. This is why the pre-auction review is so important. You need to be completely comfortable with the contract before you raise your hand.
After the Auction
Once contracts are exchanged, we handle everything through to settlement. Title searches to confirm the vendor can sell what they're promising. Liaising with your bank to coordinate finance and settlement timing. Preparing settlement statements and adjustment calculations. Managing the PEXA electronic settlement process. Ensuring the title transfers into your name correctly.
First Home Owner Grant and Stamp Duty Concessions
As a first home buyer, you may be eligible for the First Home Owner Grant or stamp duty concessions. Eligibility rules vary by state and depend on the property price, whether it's new or established, and your personal circumstances. We'll confirm your eligibility and help you apply. These savings can add up to tens of thousands of dollars. Missing a deadline or filling out forms incorrectly can cost you the entire benefit.
What Makes Auction Purchases Different
The no cooling-off rule changes everything. In a private sale, you typically have a few business days to reconsider after signing. At auction, the contract becomes binding the moment your bid is accepted. This is why our 24-hour contract review service exists. First home buyers need time to understand what they're committing to before they commit.
Auction conveyancing also moves faster. Settlement periods are often shorter. Your lender needs to be ready. Your solicitor needs to be ready. We build relationships with our clients before auction day so we can move quickly when you're successful.
