Auction contract review — before you bid
There’s no cooling-off period at auction in NSW. The contract you bid on is the one you’re locked into — so it pays to read it before auction day, not after.
No cooling-off means no second chance
Buy at auction in NSW and there's no cooling-off period. The moment the hammer falls you're bound by the contract exactly as it stands — there's no five days to change your mind, no room to renegotiate a condition you didn't notice. Everything you'd want checked or changed has to be sorted before you raise your hand.
That's a lot of pressure on a document you might only get a few days before auction day, when you're already busy arranging finance and inspections.
What Torri checks
- 1
Every special condition
Torri reads each special condition and explains it in plain English, so nothing in the fine print catches you out after the hammer.
- 2
Deposit and settlement
The deposit, the settlement period and any unusual terms are surfaced — the things you're locked into the second you win.
- 3
Title and missing documents
Easements and title dealings are extracted and the prescribed documents are checked, so a gap is visible before you bid, not after.
Read it before auction day
Torri turns the contract the agent sends into a plain-English summary in minutes, so you can take any questions to your conveyancer with time to spare. It's a head start, not legal advice — upload the PDF, read the free summary, and Torri can match you with a vetted NSW conveyancer before you bid.
Read next: Auction Contracts · Cooling Off Period
Questions, answered
Why review an auction contract before bidding?
Because buying at auction in NSW has no cooling-off period. Once the hammer falls you’re bound by the contract as it stands, so anything you’d want changed has to be sorted before you bid.
Can Torri review it in time for auction day?
Usually in a few minutes. Upload the contract the agent provides, read the plain-English summary, and take any questions to your conveyancer before the auction.
What does Torri flag?
The special conditions, deposit and settlement terms, easements and title dealings, and any missing prescribed documents — each with a citation to the clause and page.
Know what you're signing — before you sign.
Upload your contract. Free summary first, full review when you're ready.