Can I Buy the Property Before Auction?
Plenty of buyers fall in love with a property early in the campaign and wonder if they really need to wait until auction day to secure it. The short answer is yes, it is possible, but it is worth understanding how the process actually works.
Pre auction offers are genuine, but conditions apply
Owners are entitled to accept a pre auction offer if it is strong enough to convince them to end the campaign early. However, most owners and agents will only seriously consider offers that are unconditional, meaning no finance clause and no cooling off period, along with a genuine deposit paid immediately.
The Section 66w certificate
In New South Wales, an unconditional sale before auction requires a Section 66w certificate. This is a certificate from the buyer's solicitor that waives the standard cooling off rights that would otherwise apply. Without it, the contract is not genuinely unconditional, and most owners will not seriously entertain an offer without one on the table.
Because this is a legal document with real consequences, it is worth confirming the details with your own solicitor or conveyancer before making a pre auction offer, rather than relying on general information alone.
Why owners are often reluctant to sell early
A four week auction campaign is designed to build genuine competition among multiple buyers. Selling too early, before that competition has had time to develop, risks leaving money on the table. Many owners will simply decline a pre auction offer, even a reasonable one, because they believe stronger interest is still to come.
What a strong pre auction offer looks like
If you are serious about buying before auction, the strongest position you can put forward is an unconditional contract backed by a Section 66w certificate, a solid deposit ready to go, and a price that reflects real confidence, not a low opening bid designed to test the water.
The alternative, competing on auction day
If your pre auction offer is not accepted, you have not lost your chance. You simply carry that same intent and preparation through to auction day itself, where you can compete openly against other buyers in a transparent environment.
The bottom line
Buying before auction is possible, but it generally requires the same certainty an owner would get from a hammer sale, an unconditional contract backed by a Section 66w certificate, and a deposit on the table. Anything less, and most owners will simply let the campaign run its course.
If you are considering a pre auction offer on a property, the team at Axford Auctions can help you understand how to put your best foot forward — alongside your own solicitor or conveyancer for the legal details. Get in touch.