Belle Property

BIDDERS GUIDE Under the Act, the real estate agent responsible for this auction must provide each person registered on the bidders register with this guide. Who needs to register? Any person who intends to bid at an auction for residential property must register. Registering for an auction does not mean you must bid. Registering simply gives you the right to bid. You can register with the agent at any time before the auction, such as when you inspect the property, or on the day of the auction. If you are bidding to buy the property jointly, for example, with a spouse or partner, only one person needs to register, however, only that person will be able to bid at the auction. If you are bidding on behalf of another person you will need to provide that person’s name and present a copy of a document signed by that person that authorises you to bid on their behalf. Proof of identity To register, you must show the agent one of the following:* • a current document or card issued to you from a Commonwealth, State,Territory or local government authority (eg passport, driver’s licence, or pension/health concession card, council or water rates notice) • a document or card issued to you from a utility company (eg an electricity supply company) • a document or card issued to you by a bank (eg visa card) • a passport issued to you by a foreign government. If you are bidding on behalf of another person, you must also provide a copy of one of the documents listed above that has been issued to that person. It is against the law to provide false information for entry onto the bidders register. What happens at registration? Once you have registered, the agent will provide you with a unique identifier (comprising a number, letter, colour or some other identifying feature). Each time you make a bid you must display this unique identifier. What if I arrive at the auction late? Once an auction has commenced, the agent may interrupt the auction to allow you to register. It is up to the agent to determine whether or not to stop the auction to allow you to register. If you are entered on the register you may bid at the auction. Land and Business (Sale and Conveyancing) Act 1994 section 24I and section 24J(1)(f) Guide to the sale of residential property by auction NOTE* You do not need to leave the document with the agent or allow them to make a copy. form _r 4 p. 8