Two brothers co-own a NSW house being sold at auction, and one brother wants to bid to buy out the other. What must happen for the co-owner to make more than one bid?
Correct Answer
C) The conditions must allow it, and it must be announced with his bidder number
A co-owner, executor or administrator, or someone bidding for them, may make more than one bid to buy the property if this is stated in the auction conditions, the auctioneer announces it before bidding starts, and the auctioneer announces the bidder registration number of that co-owner or their representative. This separates genuine co-owner bidding from dummy bidding.
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Tom plans to bid at a NSW house auction on behalf of his sister, who will instruct him by phone from Perth. Neither holds power of attorney. What must Tom do to bid for her?
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