1) Reviewing contracts before Auction & 2) For Sale ads

1) We asked to see the contract for the property we want to buy that's going to auction this Sunday. We got it, but it's just the standard blank one. No special conditions in there or anything, but it's blank. I assume this is normal and it wouldn't get filled out until later, but WILL it be filled out BEFORE auction or not??

We need to know what comes with the sale...the dishwasher? Dryer? Window coverings?

It also doesn't say the deposit can be 5% which is what the agent has confirmed (a few times). We need to know this too before we bid.

Also it's just the standard one with the form on the front that mentions the 5 day cooling off period and that the contract is subject to building & pest inspection...except it's being sold by auction so there IS no cooling off period and if you do the building inspection and it sucks, you're still required to buy it if you win at auction. Shouldn't there be a different form for auctions seeing as the conditions are different?

2) I notice that in VIC and NSW, most property ads have floor plans and also proper locality maps, whereas in QLD and especially the Gold Coast (where I am), NONE have floor plans and maybe half to a third have a proper map (not just a stupid map of the overall area that tells you absolutely NOTHING). Also many don't say the street address in the ad. This has always annoyed me.

If / when we list our place for sale, do you think it'd be more impressive and good for buyers if we DO put a floor plan and proper map and stuff? Nobody does floor plans so would our ad stand out if we did have one? Or would it be lame because our place is only a 2 bedroom apartment and they'd then be able to see plainly how small it is? lol

Q1 - you'll need to ask the agent. In vic there's a 3 day cooling off period for buyers. Not sure what the situation is in other states.

Q2 - floor plans are always good. Again don't know why they are not the norm in your state. Does seem odd.

Many things seem odd around here, I must say. People are just so CASUAL about things that should not BE casual, you know? I mean, yes the Gold Coast is a tourist area, but come on, people!! Buying property is serious business!!

I only ever see floor plans in ads for new high rise developments. They’re usually $1-$5 million + properties, so I guess they try harder for them as opposed to the unimportant ones under $500,000. lol.

No cooling off in NSW for auction properties.
And you need to ask for the auction contracts, not the standard contract, which your agent should have given you.

It’s up to you before auction to get pest and building done. We get a floor plan done when we get the listing of the property, but as you see all states are different.
I’m dealing with owners of 2 Town Houses; one from Melbourne and one from SA, both asked what a "contract" was, they call it something different where they live.

Oh, really?? What do they call a contract there??

I find it's a bit scary to buy property sometimes...(well, always really!)...like the contract the agent gave us...it wasn't the auction contract. Why would he do that?? I don't assume it means he's automatically ******* or something's wrong with the property or the contract or anything, but...it just seems that a lot of the time people will do certain things like that (omit information, give something different to what should be given), and you're just expected to know everything and ask 10 times for the RIGHT thing...?

Michelle - maybe your Melbourne person was referring to a section 32?

In Melbourne a vendor (or rather their legal dude) needs to prepare what is called a Section 32 document which outlines the vendors statement about the house/block etc. It provides all planning issues, permits and local govt requirements and discloses all information pertaining to the house/block. This should be viewed before purchase to make sure a prospective buyer knows all about any restrictions or issues with the house/land.

Just for some more information