Reply To: Buying a house at auction?
No, there are no terms. You buy or not it’s upto you. It is an auction, not a sale. No inspections, no nothing.
In the US you have to show proof of funds before you can even bid. I would think Australia is the same, just to minimize law suits. And trust me if you bid and then fail to pay in the designated time frame they will come after you both civilly and criminally.