Why we don't recommend pre-auction offers
The bottom line
A pre-auction offer brings the auction forward. It does not replace it, and it is usually unconditional.
Buyers often ask whether they can make a conditional offer before the auction to avoid competing. In practice the vendor accepts the offer as a reserve, the auction is brought forward, and everyone else gets to bid against you. The offer has to be unconditional to be accepted at all under most auction rules.
We don't recommend making a pre-auction offer. Get ready to bid on the day instead.
Read this
Why I am cynical of pre-auction offers
Do this
Read why you cannot make a conditional pre-auction offer
Check yourself
What usually happens when a vendor accepts a pre-auction offer?
The auction is brought forward and your offer becomes the opening bid.
Can a pre-auction offer normally be conditional?
No. Auction rules usually require it to be unconditional.
What is the main risk of making one?
You set the floor for everyone else and lose your conditions.
Talk it through
Want a lawyer to check your situation?
A free 15-minute call with a property lawyer who only works with first home buyers.