Auction Reserve Letter printable pdf download

Auction Reserve Letter

Date:

The Auctioneer

Dear Sir

RE: THE SALE OF _________________________________________________________

AUCTION DATE __________________________________________________________

I/we refer to the Auction authority signed by me/us for the sale at auction of the above property.

I/we hereby wish to nominate that the reserve price for the property at the auction to be held on

the above date will be $_____________________. Should the bidding not reach the reserve price

nominated but exceeds $_____________ then please have the auctioneer refer the bid to me/us for

decision.

I/we acknowledge that under the Property, Stock and Business Agents Act 2002 (the

Act) that the auctioneer is prohibited from taking bids at the auction from persons who have not

registered to bid, even though the bid may be above the reserve price shown above. I/we will not

make any requisition or claim against the auctioneer refusing any bid in accordance with his

obligations under the Act.

I/we acknowledge I/we have the right to one bid only and that the auctioneer must announce at the

time it is taken if we so elect. If necessary I/we authorise the auctioneer to place our vendor bid at

$_____________________ unless otherwise instructed.

I/we further authorise the auctioneer to sign the contract for sale of land on my/our behalf should

we not be available to do so.

Yours faithfully

____________________ __________________ _________________

Note to be signed by all the vendors named on the contract for sale AUCTIONS

Auction Reserve Letter