A Melbourne house will be auctioned on Saturday 21 November 2026. By when must the agent publish the seller's reserve price in the Property Price Statement?
Correct Answer
A) At least 7 days before the auction, so by Saturday 14 November
Under Victoria's underquoting reforms, for auctions and fixed-date sales the agent must publish the seller's reserve price at least 7 days before the sale. The Property Price Statement must include the reserve when the agent receives it, and no later than 7 days before the auction. For a 21 November auction that means by 14 November.
Why This Is the Correct Answer
The reserve must appear in the Property Price Statement no later than 7 days before the auction.
Why the Other Options Are Wrong
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