14/10/2026
The hammer falls. You are bound. There is no cooling off period at auction.
As the spring selling season gets underway across the Newcastle region, it is worth remembering that buying at auction removes the safety net that applies to private treaty purchases. There is no five day cooling off period, no opportunity to reconsider, and no conditional finance clause to fall back on. The contract is binding the moment the property is knocked down to you.
That makes the work done beforehand critical. Reviewing the contract, examining the title, checking planning certificates and special conditions, confirming your finance and building inspections are in order. Every question needs answering before you raise your hand, not after.
For more than four decades, Burgess Thomson's property lawyers have reviewed auction contracts for Newcastle buyers, ensuring they walk into the room knowing exactly what they are bidding on.
Call (02) 4929 5602 well ahead of auction day.
https://www.burgessthomson.com.au/property-lawyers-newcastle/conveyancing/auction-contract-reviews/