Buying property at auction in Queensland

Buying property at auction in Queensland differs from other states. Find out what you should consider doing before attending an auction in Queensland.

Buying or selling at an auction

Buying property at auction in Queensland differs from other countries and even states. In Queensland, there is no cooling off period for buying at auction so it’s important you consider a number of things before bidding on a property at auction.

In Queensland, if you are the successful bidder at an auction you must go through with the contract even if:

  • You change your mind
  • The house does not pass inspections such as building or pest
  • You cannot afford the property.

In other words, the terms of sale will generally mean you are bidding on an unconditional basis. To help you out, we've put together this handy infographic on what to do before you attend the auction.

Have you found a property you like? Visit your local branch or phone 13 14 22 organise a pre-approval so you can shop with more confidence.

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The benefits of home loan pre-approval
Watch this quick video to learn the benefits of seeking home loan pre-approval before you put an offer on a property.
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Calculate an estimate of how much you may be able to borrow for a home loan. Simply enter your income, expense and loan details to get an estimate.
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Find out what's involved in the home loan application process with this simple, 4 step graphic.

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