Terms & Conditions for Auction (Rental or Leasing)
Terms & Conditions for Auctions (Rental or Leasing)
1. The Auctioneer Presents the Weekly Rental of the Property by Public Online Auction
The Auctioneer, as authorized by the agent, presents the Weekly Renatal of the Property by online auction on behalf of the Owner/Landlord. An offer to rent the Property may be made by any person who has registered and satisfied the requirements to be registered (“Bidder”) by making a bid online and subject to these Terms.
2. Bidders are Bound by Terms
By Bidding at the Online Auction, a Bidder agrees to be bound by these Terms.
3. Owner/Landlord May Withdraw the Property from Auction
The Owner/Landlord may at any time before the Highest bidder has been offered the Property to rent with draw the property from auction.
4. Credit Checks and Past History
All credit checks and past rental history will be obtained by the agent or owner to award the highest bidder with the opportunity to rent or lease the property.
5. Bidding At Auction
a) The Registered bidder is responsible for all bids made under their registration
b) With each bid made by online auction, a bidder makes an unconditional offer to rent the Property which may be accepted by the auctioneer.
c) If the Owner/Landlord has set a reserve price (“Reserve Price”) for the weekly rental of the Property, and the owner/Landlord will set an opening bid at or below the Reserve Price for the weekly rental.
d) Bidding increments can change during the Online Auction.
e) The Auctioneer may refuse any bid without providing a reason for doing so.
f) A Bid once acknowledge by PropertyBids.com.au is binding on the Bidder and may not be withdrawn.
g) It is the responsibility of the Bidder to make sure their internet service provider has sufficient coverage to minimize outages or down time.
h) A bid is not accepted until it is confirmed by email.
i) If there is a dispute concerning bids made by online auction then the Auctioneer will decide a resolution for the Dispute in a way that we deem appropriate. The decision by the Auctioneer is final and
gives to no claim by any person against another.
j) Selection of the Tenant and determination of the weekly rental subject to the determination of any dispute, the successful bidder acknowledge by PropertyBids.com.au will be a registered bidder who
has
1. Made the highest bid for the weekly rental of the property; and
2. Providing that bid is at or above the Reserve Price(if any) at the closure of the auction and time allocated has lapsed.
3. Satisfied all necassary credit checks and past tenant history by the Listing Agent.
k) The successful Bidder will complete all necessary details required by the Listing Agent to enter into an agreement for the Lease of the property in the form of a Residential Tenancy agreement or
Lease which will be available via email in a PDF format from the Listing Agent before or during the auction.
l) Pay the Agent a Bond and at least 4 weeks in advance specified by the Listing Agent into the Listing Agents Trust Account. Details will be communicated by the listing Agent.
6. Property May be Re- Auctioned or offered to another bidder If the Highest bidder;
a) Fails to pay the Bond and weekly rental in advance as specified, or
b) Fails to execute the Rental or Lease agreement, or both
c) The highest Bidder fails credit checks or past history references.
e) or if the weekly rental Reserve Price is not achieved.
7. Owner/Landlord May Seek Highest Bidder For Damages
The Owner/Landlord may seek from the highest bidder damages for any failure to comply with these Terms and Conditions and or the Rental agreement or Lease.
8. GST
All Bids and Reserve Prices are Inclusive of GST (Goods and Services Tax) unless otherwise stated
9. Consenting Age
By registering to bid on PropertyBids.com.au you are consenting that you are 18 years of age or older