First time buyer's guide

Do I need a bidder’s card?

All prospective bidders are required to register their name and address with the auctioneer prior to bidding. Satisfactory evidence of identity must be provided. All registered bidders will be issued with a numbered bidder’s card. No bid will be accepted from any unregistered bidder.

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.

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 that is not subject to finance or any other condition such as building/pest inspection.

Last published: 20/06/2019 2:48:36 AM