By the end 1800s, they made half the properties with stones, with the rest built with timber and brick. The residential areas of Adelaide are desirable and best known for their detached single-storey sandstone homes on large blocks of land. Although they are all over the inner-city suburbs, the housing is still affordable.
At the Auction you must register by providing your identification to the agent conducting the sale. For someone else to bid on your behalf, you will need to give proof of your identity plus a signed authorisation letter. They usually set a reserve price, in writing, before the auction. You should know they entitle the vendor to three bids. The vendor bids must not exceed the reserve price. The auctioneer must announce each such bid as a ‘vendor bid’. If reported throughout the auction, it shows. The vendor’s reserve price is not reached. If you are the highest bidder and they do not meet the reserve price, you can negotiate. At the fall of the hammer, the successful bidder must pay a ten per cent deposit. It would be best if you had your finance ready because they exchange contracts on the day. Dummy bids are not allowed.
All offers must be in writing that discloses the seller’s name for private treaty, contact information, the price, the settlement date, and any other conditions. Each submission can include a date by which the offer lapses. Before a vendor accepts an offer, the agent must make sure the vendor has received all written offers. Requests are often subject to building inspection and loan approval or any other conditions by the purchaser or vendor. Both parties must sign a contract of sale before the offer is binding. To complete the settlement, it can take from 30 to 90 days.