Bidder Terms

Last updated: 2 June 2026

These Bidder Terms sit alongside the Verabid Terms of Service and apply to every registration you complete to bid at a property auction through Verabid. They cover the obligations you take on as a registered bidder — distinct from the platform terms (which cover your account) and the per-property Conditions of Sale (which cover the contract that forms when your bid wins).

1. The auction is conducted by the agency

Every auction on Verabid is conducted by a licensed Australian real estate agency on behalf of the property vendor. Verabid is not the agency, the auctioneer or the vendor, and is not a party to the contract of sale that forms when your bid wins. The agency’s conditions of sale, registration requirements, attendance rules and bidding rules apply.

2. Identity verification is binding

You must complete identity verification under your true legal identity. If you are bidding on behalf of a company, trust, SMSF, or another individual, the underlying entity must be verified and the necessary co-parties (directors, trustees, beneficial owners, co-buyers) must complete their own identity verification and sign their portion of the bidder documents before your registration is fully approved.

Providing false identity information is a criminal offence under Commonwealth and state law and will result in your registration being cancelled, your account being suspended, and may be referred to authorities.

3. Bidder documents you sign are binding

As part of registering you will be asked to electronically acknowledge and sign documents including (depending on the entity and auction):

• The auction’s Conditions of Sale;
• An Acknowledgement of Receipt of Disclosure;
• For company / trust / SMSF or bid-on-behalf registrations, an Authority to Bid;
• For a company, trust or SMSF buyer — including one registered by an authorised representative — a Guarantee & Indemnity executed by each required director or trustee. Acting as the bid-on-behalf representative does not by itself make that person a guarantor.

Your electronic signature has the same legal effect as a hand-written signature under the Electronic Transactions Act 1999 (Cth) and equivalent state and territory legislation. You confirm you have read and understood each document before signing.

4. Your bid is irrevocable

Any bid you place at the auction, whether in person, by telephone through the agency, or by any other means, is an irrevocable offer to purchase the property at that bid price on the terms set out in the Conditions of Sale. If your bid is the winning bid you (or the entity you are bidding for) will:

• Sign the contract of sale immediately at the fall of the hammer;
• Pay the required deposit in accordance with the Conditions of Sale;
• Complete settlement under the contract in accordance with the state-specific timeframes.

5. No cooling-off at auction

Most Australian states do not provide a cooling-off period for property purchased at auction. You should obtain independent legal advice on the contract of sale and arrange finance before the auction.

6. Solicitor recommendation

We strongly recommend engaging a solicitor or licensed conveyancer to review the contract of sale before you bid. Verabid lets you record your solicitor’s details against your buyer entity, or proceed without a solicitor on file. If you proceed without a solicitor, you accept full responsibility for obtaining independent legal advice. Verabid does not provide legal advice and does not refer or recommend solicitors.

7. Co-party authority

If you register a company, trust, SMSF, or are bidding on behalf of another person or company, the bid you place binds the underlying entity. You warrant that:

• You have the authority under the entity’s constituent documents (constitution, trust deed, SMSF deed) to bid and to enter into the contract of sale on its behalf;
• Every director, trustee or beneficial owner whose authority is required has been listed and has completed their own identity verification and signed the bidder documents;
• You are not aware of any circumstance that would prevent the entity from completing the purchase if your bid is successful.

8. Withdrawal of registration

You may withdraw your registration before the auction commences. After the auction commences, withdrawal is subject to the auctioneer’s discretion and the agency’s rules.

9. Conduct at auction

You must comply with the auctioneer’s instructions and any rules of the auction venue (in-room or online). Disruptive conduct, dummy bidding, or any attempt to manipulate the auction may result in your registration being cancelled and your account being suspended, and may be reported to the agency, the state real-estate regulator or other authorities.

10. Disputes

Disputes about the outcome of an auction or the contract of sale are between you and the selling agency / vendor. Verabid will provide signed bidder documents and registration metadata to either party on lawful request, but does not adjudicate disputes about the auction itself.

11. Contact

Questions about these Bidder Terms can be sent to support@verabid.com.au.