Breaking down banking jargon
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:
In other words, the terms of sale will generally mean you are bidding on an unconditional basis.
Seen a property you like? Visit your local branch or phone 13 14 22 organise a pre-approval so you can shop with more confidence.
To help you out, we've put together this handy infographic on what to do before you attend the auction: