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Yes, but you need to pay for any losses incurred.
What happens after you win an auction?
The highest bidder when the ha妹妹er falls is the successful purchaser and must sign the contract and pay a deposit on the spot. No changes can be made to the contract at this point.
The property is only considered sold once the contract has been signed and a deposit paid. The deposit is normally 10 per cent of the purchase price and a cheque is the most co妹妹only accepted form of payment.
If you intend to bid but don’t have a cheque account, it’s best to arrange a bank cheque for 10 per cent of your maximum purchase price beforehand.
If you win an auction but refuse to pay the deposit or sign the contract, the vendor may be able to sue for any losses incurred as a result. |
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