1.1 Throughout Australia, bidders at auctions for the sale and purchase of Real Property are generally only able to bid in person or by telephone.
1.2 AuctionNow is in the business of providing an online auction portal to enable agents to list and users to participate in online bidding of live auctions for the sale and purchase of Real Property.
1.3 AuctionNow will:
(a) Provide a platform and service to agents to list and run live and timed auctions online;
(b) Provide access to live and timed auctions online;
(c) Enable users to bid on live and timed auctions online; and
(d) Facilitate the exchange of contracts for successful bidders of live and timed auctions.
The following are the terms and conditions governing the use of this website. For the avoidance of doubt, the purpose of these terms and conditions is to both govern the activity of visitors to the Site and provide information on the process and services which AuctionNow provides upon Registration of an Account.
2.1 Visitors to this website may create an Account free of charge and Bid on Property (provided that the agent listing the property permits online bids).
2.2 In order to create an Account a person must:
a) be over the age of eighteen years;
b) be legally able to enter into a contractual agreement to purchase Property in Australia;
c) be able to provide an Australian residential address or documentation with an overseas address providing they are an Australian resident; and
d) meet any other requirements of AuctionNow as determined from time to time.
3.1 Upon Registration of an Account on the Site, the User may free of charge from AuctionNow:
(a) View Property listed for Auction;
(b) View online Auctions of Property;
(c) Place Bids on Property at Auction (provided that the agent listing the property permits online bids);:
(d) Authorise a Buyers Agent to place bids on Property at Auction; and
(e) Utilise the features provided in their Account.
4.1 The User must:
(a) Be over the age of eighteen (18) years;
(b) Be able to legally purchase Real Property in Australia;
(c) Provide correct Verification of Identity information of the User to AuctionNow when undertaking Registration of an Account;
(d) Keep the information on their Account up to date;
(e) Not allow any other person to use the User's Account and must maintain the confidentiality and log in details of the User's Account;
(f) Notify AuctionNow immediately if the User becomes aware that their Account has been hacked or otherwise compromised;
(g) Not in any way impersonate another person or entity or access another person's Account;
(h) Not do anything to interfere with the auction process or the Service;
(i) Not post any defamatory, illegal, obscene or threatening content on the Site;
(j) Not provide information to AuctionNow which is false or misleading;
(k) Abide by all policies and procedures referred to in section 5 and set out in the schedules to this Agreement and as updated or set out from time to time by AuctionNow in the User's Account.
4.2 Where the User places a Successful Bid in an Auction (either by the User or authorized bidder on behalf of the User) the User must take all steps necessary to effect the exchange of a contract for the sale and purchase of the Property, including:
(a) Sign the contract for the sale and purchase of the property via docusign;
(b) Pay the deposit as soon as practicable after the Successful Bid;
(c) Abiding by the Post Auction Procedure set out at Schedule 3 to this Agreement; and
(d) Take all other steps necessary to effect the exchange of the contract for the sale and purchase of the property.
Any bids made through a User's Account are binding on the User and non-retractable subject to clause 4.4.
4.4 Where evidence of fraud is provided that does not include any negligence or fault on the User's part, a bid may be withdrawn at the sole discretion of AuctionNow or the Agent/Auctioneer using the AuctionNow system.
5.1 The User agrees to comply with and be bound by all policies and procedures set out in the following Schedules and as amended or set out from time to time by AuctionNow:
(a) Schedule 1 - Live Auction Procedure
(b) Schedule 2 - Timed Auction Procedure
(c) Schedule 3 - Post Auction Procedure (both Live and Timed Auctions)
(d) Schedule 4 - Privacy Policy
5.2 The User acknowledges and agrees that polices or procedures may be amended or new policies or procedures may be added from time to time to the Account by AuctionNow and the User's continued use of the Service constitutes an agreement to be bound by any amended or additional policies or procedures.
6.1 AuctionNow must use all reasonable endeavors to provide a functional Service to the User;
6.2 AuctionNow must ensure that its processes are compliant with all State, Territory and Commonwealth Laws.
6.3 AuctionNow does not take any responsibility and is not liable for any damages resulting from:
(a) Any malfunctions or loss of service which may occur during a live auction which prevent the User from participating in the auction;
(b) Any incorrect information regarding a property that is supplied by the Vendor or Agent and published on the Site;
(c) Any actions of a User
6.4 AuctionNow will not be an arbitrator of any dispute between the User and a Vendor.
7.1 Unless the context otherwise provides, this Agreement and the content of the website defines the following terms:
• Account - Means the online profile we provide you to use the Service.
• Agency - Means the sole trader, partnership or entity that employs or engages the Agent.
• Agent - has the same meaning as set out in the Applicable Law.
• Applicable Law - Means the law applying in the relevant jurisdiction.
• Auction - Means an auction that is facilitated online by AuctionNow.
• Auctioneer - Has the same meaning as set out in the Applicable Law.
• Bidder - Means a USER who places a bid by using the Service.
• Buyers Agent - Refers to a person who is licenced to represent a Purchaser in a Real Estate Transaction.
• AuctionNow/we/us - Means AuctionNow Pty Ltd trading as Auction Now including its shareholders, directors, officers, employees, agents and representatives.
• Dummy Bidding - Has the same meaning as set out in the Applicable Law.
• Foreign Investment Requirements - Means the requirements of the Australian Tax Office, Treasury and Foreign Investment Review Board and any other government authority for foreign investors to purchase real property in Australia.
• Foreign Investor - Means an individual who is not an Australian citizen or an Australian permanent resident.
• Intellectual Property - Means all intellectual property rights (including, without limitation, all copyright, designs, trademarks and patents) of any nature in any inventions, designs, works and subject matter created, developed or generated by AuctionNow.
• Licenced Conveyancer - Includes any person who is authorised under any state or territory law to undertake conveyancing in relation to the contract for the sale of Real Property.
• Purchaser - means a buyer of Real Property.
• Property - Means Real Property.
• Publicly Advertised - Means Real Property that is advertised to the world at large via any form of communication.
• Relevant Jurisdiction - Means the jurisdiction of the state or territory where the Property is located.
• Real Estate Agent - Refers to a person who is licenced to buy and sell real estate under any law of any state or territory.
• Real Estate Transaction - Means the buying or selling of Real Property.
• Real Property - Means the land and anything fixed, immovable, or permanently attached to it. Title to real estate normally includes title to air rights, mineral rights, and surface rights.
• Registered Buyers Agent - Means a Buyers Agent who holds an Account with AuctionNow.
• Registration - Means an online registration of the Site of the User at www.auctionnow.com.au. For the purposes of this Agreement Registration is taken to have occurred when the administrator of AuctionNow activates the Registration.
• Service - Means the online auction portal for Real Property provided by AuctionNow through the Site.
• Site - Means www.auctionnow.com.au
• Solicitor - Means the holder of an Australian legal practice certificate.
• Successful Bid - Means the highest bid above the reserve price or accepted by the Vendor, at the close of an Auction.
• Third Party Content - Means any content, information or documents appearing on the site which was not created by AuctionNow.
• User - includes a user of this site, vendor, agent, prospective purchaser, person acting as a buyers agent, a person lawfully authorised to bid on their behalf.
• Vendor - Means the seller of Real Property and for the purposes of this agreement includes the vendors agent and vendors solicitor.
• Verification of Identity - Means the requisite amount of personal identification required to identify an individual or company or trust in accordance with the requirements of the Applicable Law as amended from time to time.
The following procedure and conditions shall apply to a User who participates in a live Auction.
Note: terms used in this procedure will have the same meaning as the terms set out in the User Agreement entered into by the User on Registration of an Account.
1. The live auction will be conducted in accordance with the rules and regulations as set out in the prescribed conditions of auction relevant to local jurisdiction. As a registered bidder you agree to comply with these rules and regulations along with any other terms and conditions as specified by AuctionNow.
2. The live auction will commence at the advertised date and time and will be conducted by a person holding the appropriate licences or accreditations in the jurisdiction in which the live auction is being held.
3. All prospective bidders must be ready to bid at the advertised date and time, however AuctionNow reserves the right to delay the commencement of the live auction at their sole discretion.
4. Before the commencement of the live auction the Vendor will give the Auctioneer the reserve price that they have set for the Property in writing.
5. The Vendor is entitled to amend their reserve price at any time during the course of the live auction.
6. The Auctioneer will be responsible for the conduct of the live auction and will be the sole arbitrator of the process.
7. Only registered Users who have successfully registered to bid on a property will be able to bid via the Site, or in person.
8. If a co-owner of the Property is registered to bid then the Agent must notify all other registered Users of this and let them know the bidder number of the co-owner.
9. Users must only place a bid if they have the intention of purchasing the Property.
10. It is the Users responsibility to do their own due diligence prior to the commencement of the live auction so that they understand what it is that they are bidding for.
11. The User may upload approved amendments to the contract through the Site and such amendments must include written evidence from the vendor or their legal representative accepting such alterations to the contract. AuctionNow takes no responsibility for ensuring the proposed amendments have been approved by the vendor or their legal representative.
12. The Agent must provide to all registered bidders a contact number for the agent or an agent's representative who will be able to take calls from bidders and answer any questions during the course of the auction. If a bidder chooses to make a telephone bid, via the agent, or their representative, during the auction, the bidder authorises the agent, or their representative, to bid on their behalf and accepts that they have received, read and understood the auction terms and conditions.
13. Once a bid is placed it cannot be cancelled or withdrawn by the User.
14. The Auctioneer has the authority to reject or not accept any bid at their discretion.
15. If a User places a bid the User acknowledges that the User is prepared and able to pay that amount for the Property should you be successful.
16. During the live auction the bidding increments will be determined by the Auctioneer.
17. Should you wish to bid a different increment to that suggested by the Auctioneer it will need to be approved by the Agent and Auctioneer.
18. Your bid must always be in excess of the current highest bid.
19. At any time the Auctioneer is permitted to pause the live auction and no bids will be able to be placed during this time.
20. By using this service you acknowledge that it is against the law to participate in Dummy Bidding and agree not to do so.
21. The Auctioneer reserves the right to place Vendor bid(s) during the course of the live auction in accordance with relevant legislation of the local jurisdiction and this may be identified as a Vendor bid on the site.
22. Once the Property has reached its written reserve price the Property will be deemed ‘on the market' and the highest bidder above this price at the fall of the hammer will become the Purchaser.
23. If you become the Purchaser at the completion of the live auction you will need to sign the contract via docusign and pay the deposit as soon as practicable after the fall of the hammer and otherwise abide by the Post Auction Procedure of AuctionNow.
24. If the Property does not reach its written reserve price the Property will be ‘passed in'.
25. We are not responsible for ensuring any further communication between you and the Agent after the close of the Auction.
26. It is the Agent's responsibility to maintain and update any relevant information or documentation with regards to the Property.
27. It is the Agent's responsibility to notify any bidders of any changes to the contract, terms of sale, auction details or the Property itself prior to or during the Auction.
28. If at any time you breach the terms and conditions of this Site or the live auction AuctionNow may remove your ability to bid and view the live auction.
The following procedure and conditions shall apply to a User who participates in a timed Auction.
Note: terms used in this procedure will have the same meaning as the terms set out in the User Agreement entered into by the User on Registration of an Account.
1. The timed auction will be conducted in accordance with the rules and regulations as set out in the prescribed conditions of auction relevant to local jurisdiction. As a registered bidder you agree to comply with these rules and regulations along with any other terms and conditions as specified by AuctionNow.
2. The timed auction will commence at the advertised date and time and the parameters of the timed auction will be set up and operated by the Agent for the Vendor.
3. The Auction date shall be the date on which the winning bid is placed.
4. Before the commencement of the timed auction the Vendor will give the Agent the reserve price that they have set for the Property in writing.
5. The Vendor is entitled to amend their reserve price at any time during the course of the timed auction.
6. Only registered Users who have had their accounts activated by AuctionNow will be able to bid via the Site.
7. If a co-owner of the Property is registered to bid then the Agent must notify all other registered Users of this and let them know the bidder number of the co-owner.
8. Users must only place a bid if they have the intention of purchasing the Property.
9. It is the Users responsibility to do their own due diligence prior to the commencement of the timed auction so that they understand what it is that they are bidding for.
10. The User may upload approved amendments to the contract through the Site and such amendments must include written evidence from the vendor or their legal representative accepting such alterations to the contract. AuctionNow takes no responsibility for ensuring the proposed amendments have been approved by the vendor or their legal representative.
11. Once a bid is placed it cannot be cancelled or withdrawn by the User.
12. The Agent has the authority to reject or not accept any bid at their discretion.
13. If a User places a bid the User acknowledges that the User is prepared and able to pay that amount for the Property should the User be successful.
14. Your bid must always be in excess of the current highest bid.
15. At any time AuctionNow is permitted to pause the live auction and no bids will be able to be placed during this time.
16. By using this service you acknowledge that it is against the law to participate in Dummy Bidding and agree not to do so
17. The Auctioneer reserves the right to place Vendor bid(s) during the course of the timed auction in accordance with relevant legislation of the local jurisdiction and this may be identified as a Vendor bid on the site.
18. Once the Property has reached its written reserve price the Property will be deemed ‘on the market' and the highest bidder above this price at the fall of the hammer will become the Purchaser.
19. If you become the Purchaser at the completion of the timed auction you will need to sign the contract via docusign and pay the deposit as soon as practicable after the completion of the Auction and otherwise abide by the Post Auction Procedure of AuctionNow.
20. If the Property does not reach its written reserve price the Property will be ‘passed in'.
21. We are not responsible for ensuring any further communication between you and the Agent after the close of the Auction.
22. It is the Agent's responsibility to maintain and update any relevant information or documentation with regards to the Property.
23. It is the Agent's responsibility to notify any bidders of any changes to the contract, terms of sale, auction details or the Property itself prior to or during the Auction.
24. If at any time you breach the terms and conditions of this Site or the timed auction AuctionNow may remove your ability to bid and view the timed auction.
The following procedure shall apply to a User who places a Successful Bid at a live auction or timed auction.
Note: terms used in this procedure will have the same meaning as the terms set out in the User Agreement entered into by the User on Registration of an Account.
1. The contract for purchase and sale of the Property will be sent to you electronically by the Vendor as soon as practicable after the close of the Auction.
2. The User must sign the contract for sale and purchase of the Property via the electronic software, docusign or in any other manner agreed to between the User and Agent immediately after the Auction.
3. If the User for whatever reason does not or is unable to sign the contract for sale and purchase of the Property, the User irrevocably authorises and appoints; for online auctions the Auctioneer in AuctionNow; for live auctions Auctioneer; to sign the contract for sale and purchase of the Property on the Users behalf.
4. The deposit being 10% of the purchase price or such other amount agreed to in writing by the Vendor prior to the close of the auction, will need to be paid as directed by the Vendor or Vendors Agent as soon as practicable after the close of the Auction.
5. Once the contract has been exchanged and the deposit has been paid any further communication regarding the Property will take place directly between the User and the Vendor or Vendors Agent.
AuctionNow is committed to ensuring your privacy and confidentiality. AuctionNow recognises that in this technologically advanced world everyone is concerned about who holds their personal information and how it is going to be utilised. The privacy policy of AuctionNow is designed to minimise the amount of personal data collected, protect that data and give the consumer the right to full access to the data held.
It is the policy of AuctionNow:
• To collect sufficient information to service the needs of its users; and
• To collect only sufficient information to protect the legitimate interests of AuctionNow.
AuctionNow will keep all user information confidential. Private and confidential information will not be available to the public.
Obviously, private and confidential information must be made accessible to law enforcement bodies. AuctionNow will comply with all lawful requests for data made by any and all law enforcement bodies.
All users have a right to access the information that is held by AuctionNow about you. This information can be accessed by requesting that any and all information held by AuctionNow be provided to the user. This can be done by sending an email to hello@auctionnow.com.au. It is important that you attach photographic identification to authenticate your request.
The User authorises, and AuctionNow Pty Limited [ACN 625 513 742] trading as AuctionNow reserves the right to transfer or assign the business of, and information held by AuctionNow.
If you are not a user of AuctionNow, you may have all personal information removed from the AuctionNow system. Please note that, AuctionNow reserves its rights to retain any records necessary for lawful purposes as required by regulators.