First Time Buyer's Guide
| Do I need a bidder’s card? |
| No. However, in accordance
with the Property Agents and Motor Dealers Act 2000 (code of conduct)
we do request that prospective buyers register their name, address
and contact phone in the bidder’s register. |
| Why is The Public Trustee involved with the sale of real estate? |
There are many circumstances
under which The Public Trustee may be involved with the sale of real
estate. Often, The Public Trustee has been appointed executor of an
estate and as a part of the distribution of assets according to the
Will, we may be required to sell property. |
| Is there a reserve price set on any of the properties? |
Yes. All properties sold
by The Public Trustee of Queensland are sold subject to a reserve
price. Reserve prices are not disclosed prior to the auction. However,
in most cases, a figure can be provided as to the expected start bid. |
| Can I make an offer prior to the auction? |
No. Offers made prior to
the auction will not be considered. If the property is not sold at
auction it is then placed on the market for sale at the reserve price.
At this stage, offers will be considered. |
| Can I arrange a building or pest inspection prior to the auction? |
Yes. Please have your Builder
or Pest Inspector contact The Public Trust Office to arrange a mutually
convenient time for the inspection. |
| What are the terms and conditions of the contract? |
| If you purchase property at a Public Trustee auction, you will be required to sign a cash unconditional contract, confirming that the deal is not subject to finance or any other condition such a building/pest inspection. The contract settlement period is 42 days, however, you may settle prior to this date if both parties are agreeable and in a position to do so. The deposit is 5% of the purchase price and is payable upon the fall of the hammer. Payment can be made by cash, bank cheque or personal cheque. |
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