All Topics / General Property / New NSW Auction Law.

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  • Profile photo of Still in SchoolStill in School
    Member
    @still-in-school
    Join Date: 2003
    Post Count: 1,844
    March 30, 2004 - 5:39 am
    Originally posted by _se7en_:

    Atttened a auction at Umina Beach NSW on the weekend.

    In NSW new law means that anyone wanting to bid on the property must register before hand.

    About 20 people (8 couples) on site.

    The Auction starts with the Agent going thru the contract: Location, size, inclusions, easement etc.

    Then he closes the auction as no one has registered.

    I guess since he has made his spiel he will get his auction fee.

    Two couples stayed on to neg with the agent.

    Hi Guys,

    I pulled this post out of Cringe During Location Location

    its posted by our forum member _se7en_…

    … for many people who attend auctions, or who are thinking of selling at auction, you might benefit from the knowing of the New NSW Auction Law.

    Cheers,
    sis

    ps.. thanks for keeping us inform _se7en_

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of RubbachookRubbachook
    Member
    @rubbachook
    Join Date: 2003
    Post Count: 288
    March 30, 2004 - 6:14 am

    This changed in NSW and Vic (other states) last year. The Mexicans have been screaming about it (and it’s restrictions on dummy bidding etc) ever since…

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