The new online auction market in Queensland
The Queensland real estate market is adapting to the recent coronavirus measures with new digital auction platforms.
With auctions and house inspections currently banned in Australia the real estate market has had to adapt to the strict COVID-19 measures by relying on new virtual auction apps and websites such as Gavl.
Whilst some Buyers have been deterred by the uncertainty of the times or are choosing instead to buy and sell property via private sales, there has been a growing number of potential Buyers in Brisbane switching to the new model of livestreamed auctions.
If you’ve signed a new contract to purchase property in Queensland or are considering buying or selling contact Horrocks Solicitors for trusted conveyancing advice in Brisbane.
Phone 07 3013 2300 or via our contact form.
House and Land Private Sales - What do you need to know?
Buying and selling a house or land through a private sale can be risky and it’s important to ensure that you conduct appropriate market research within the local area to compare the purchase price in addition to contacting a conveyancing solicitor to review your contract terms before you sign.
Digital Auctions - How do they work?
New digital platforms and smartphone technology have enabled auctions to be livestreamed via the internet whereby potential Buyers make their bids in real time in a virtual auction room without the need to be physically present.
The signing of the REIQ contract can be executed digitally using DocuSign and is facilitated by the company.
Buying property during the Coronavirus Pandemic
If you’re considering buying or selling at this time in Queensland we recommend that you read our Important Conveyancing Update for the COVID-19 Special Conditions that should be added to your REIQ contract.
