How to find our Auction Room

Holmwood Auction Room

397-399 Ilam Road, Ilam, Christchurch
The Holmwood Auction Room is located approximately ten minutes from the city centre.
There is on site and off-street parking available.

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A Guide to Buying at Auction
Auction is fast becoming the preferred method of buying and selling property. We want to make it as easy
and straightforward as possible. Here are some simple steps to follow.

Buyers Meetings
It is possible for buyers to meet with a member of the Holmwood management team. This is an opportunity
for our manager or auctioneer to answer in an informal environment any questions you might have about the
auction procedure, bidding, what the various terms mean, etc. There is absolutely no obligation, just come,
relax, see the layout of the auction room and learn how buying at auction works for you.

Register Your Interest

If you are interested in the property, be sure to let the salesperson who showed you the home know. This
ensures that if another buyer makes an offer before the auction (that the owner will accept) then we are able
to contact all registered parties (those who have registered their interest).

Property Information
When you purchase at auction the sale is unconditional and legally binding. Therefore before the auction you
will need to be satisfied with any property information, e.g. title, LIM and the particulars and conditions of sale.
If specialised reports are required these can be obtained and reviewed prior to the auction date. It is advisable
to have your solicitor approve these.

Finance
Before the auction date you will need to have your finance approved. On the day of the auction you will be
required to pay a 10% deposit immediately (so remember to bring your cheque book or arrange with your
bank to pay online come auction day).

Terms and Conditions

If the terms and conditions don’t suit you, it is often possible to change some of these e.g. the possession
date and chattels. This needs to be done before the auction by your salesperson who will obtain the owners
agreement in writing (an Aside Agreement).

Pre-auction
As a buyer it is a good idea to have a pre-auction meeting with the salesperson who introduced you to
the property to discuss the auction, method of bidding, strategies in bidding and any variations that you
may require. If you are unfamiliar with bidding or would prefer not to bid yourself, do discuss this with your
salesperson for other options.

At Holmwood Auctions we are here to help.

30/07/2018
Auction Registration of Interest
Date:
Property Address:
Auction Date:
Inspected with (Salesperson):
Date Inspected:

We would like to register our interest in the above-mentioned property to be sold by Auction.

We understand the vendor may consider unconditional offers prior to the Auction. We also understand that
all parties who have registered their interest in the property will be contacted and given an opportunity to
purchase the property.

Buyer’s Name:
Address:
Phone: Home
Business
Fax
Mobile
Email

It is important that you complete this form and deliver, fax or email to our office or salesperson TODAY.

Please send me an auction booklet

Harcourts Holmwood Phone: (03) 351 6556

407 Ilam Road Fax: (03) 351 6916
Ilam, Christchurch Email: ilam@harcourts.co.nz

27/07/2016
Aside Agreement - Variation to Terms and Conditions

(Address)

to be offered for sale by public auction by: Real Estate Limited

If the Purchaser (named below) is the successful bidder at auction then the Terms and Conditions
are varied as follows:

1. Notwithstanding the vendor agreeing to the above condition, the purchaser acknowledges that during
the course of the auction, the vendor can consider, with a view to accepting, a bid that is lower than the
purchaser’s but such lower a bid being unconditional in all respects. If the vendor wishes to accept an
unconditional but lower bid than the purchaser’s conditional bid, then the vendor will offer the purchaser:
a) The opportunity to withdraw the condition above thereby making the purchaser’s higher bid unconditional; or
b) To increase their bid to the level acceptable to the vendor so that the purchaser retains the condition set
out above.
2. The purchaser acknowledges at all times the vendor has the right to withdraw the property from the
market at any time during the auction and that the vendor retains all rights to sell the property to any
bidder at a price acceptable to them in all respects.

Purchaser (signed)

Purchaser (signed)

Vendor(s) Accepts/Declines (signed)

Date
 Supporting Nurse Maude

Authority to Bid
Re (Address of Property)

To be auctioned on (Date)

Purchaser’s Name (s)

I hereby authorise
to bid on my/our behalf.

I/We will be bidding from

(Address)

(Telephone)
(Facsimile)

In the event that I am the successful bidder, I will immediately:

(i) Complete all relevant details and sign the Memorandum of Agreement with the Particulars and
Conditions of Sale and return this to Harcourts Holmwood for acceptance by the vendor.

(ii) Pay into the Harcourts Holmwood Trust Account on the day of the Auction, the deposit being 10% of
the purchase price.

I/We further agree to indemnify from any

personal liability in any manner or form arising from his/her role as our disclosed agent in bidding at Auction on
our behalf.

I/We also acknowledge receipt of a copy of the New Zealand Residential Property Sale & Purchase Agreement
Guide.

Signed

Date

Witness (Name) (Signature)

Vendor(s)
Accepts/Declines

Date

Fendalton
51 Holmwood Road
Fendalton, Christchurch
Phone: 03 355 6116 Fax: 03 355 6132
Email: fendalton@harcourts.co.nz
holmwood.co.nz
Ilam Ilam 2 Merivale St Albans
407 Ilam Road 397-399 Ilam Road 175 Papanui Road 142 Sherborne Street
Ilam, Christchurch Ilam, Christchurch Merivale, Christchurch St Albans, Christchurch
Phone: 03 351 6556 Fax: 03 351 6916 Phone: 03 351 3002 Fax: 03 351 4927 Phone: 03 355 6677 Fax: 03 355 6678 Phone: 03 377 0377 Fax: 03 379 1714
Email: ilam@harcourts.co.nz Email: ilam2@harcourts.co.nz Email: merivale@harcourts.co.nz Email: stalbans@harcourts.co.nz
Pre-Auction Checklist for Buyers
We’ve prepared this information to help prepare you for buying a property at Auction.

So... You’ve seen a house that’s going to be sold by Auction and decided you’d like to buy it? Fantastic!
Here’s what to do next:

1. If you haven’t already done so, make sure you let the salesperson you’re dealing with know that
you’re interested in the property by “Registering your Interest”. They can then supply you with a
full Auction Pack which will include details of the property and contain such things as a draft of
the Auction Contract, the Title & LIM (Land Information Memorandum) for the property, and any
other pertinent information available. It pays to get this information as soon as you can, sometimes
properties are sold prior to the initially advertised date. If you’ve registered your interest you’ll be
kept informed should the Auction be brought forward.

2. When buying at Auction, you are generally buying on an “unconditional” basis, so it’s wise to do your
“homework” early by:

−− Getting your solicitor to check over the LIM & Title to the property.
−− Ensure your finance is in place (know your top limit!) and that you are in a position to pay the standard
10% deposit immediately after the Auction if you are the successful bidder. The deposit is most com-
monly paid either by personal cheque, or as is becoming increasingly common: by electronic bank
transfer to the Trust Account of the Real Estate Firm handling the sale. Let the salesperson you’re
dealing with know how you intend to pay the deposit, or if you foresee any difficulty meeting these
requirements.
−− Check the nominated settlement/possession date on the front page of the Auction contract. If you’d
like to request an alternative date, advise the salesperson you’ve been dealing with.
−− Check that you can get Insurance on the property should you buy it. In most cases in Canterbury
since the earthquakes the incumbent insurer will agree to insure the next owner, but if you encounter
any difficulty with this, advise the salesperson you’ve been dealing with. They may be able to help.
3. Have you been provided with the Real Estate Agents Authority (REAA) booklet: “New Zealand
Residential Property Sale and Purchase Agreements Guide”? If not, ask for one from the salesperson
you’ve been dealing with or you can get one from any Real Estate Office, or the Auction Venue.

4. Have you been to an Auction before? If not and time permits, it’s a good idea to attend one. The
salesperson you’ve been dealing with will be happy to assist wherever possible.

5. Can you attend the Auction in person? If not, you can also bid by telephone or through a third party,
but this needs to be arranged in advance so once again; let the salesperson know so they can
arrange the necessary documentation.

6. If you are buying the property in conjunction with another person, we recommend that both of you
attend the Auction, but if that’s not possible, try and ensure that you can at least be in telephone
contact with each other whilst the Auction is in progress.

7. Plan your bidding strategy in advance. Auctions can move fairly swiftly so it pays to be well prepared
beforehand. If you are buying in conjunction with another person, decide who will do the bidding, or
whether you’d prefer the salesperson you’re dealing with (or another 3rd party) to bid for you. Your
salesperson can also offer advice and a few tips that may be to your advantage on Auction day.

8. Make sure you know when and where the Auction is to be held. Some people have missed out by
being in the wrong place at the wrong time!
 o l
HOLMWOOD

r o t o c
AUCTION ROOM

P UNDER NZ COVID-19
PROTECTION FRAMEWORK

The Harcourts Holmwood In-Room Auctions are classed as an “event” under the new health orders provided by the
New Zealand Government under the New Zealand COVID-19 Protection Framework.

As the result of a Risk Assessment Harcourts Holmwood are mandating Vaccine Passes as a requirement for entry
into our Auction Room. This will allow us to continue to auction our clients’ properties at every level of the new
framework.

If you are planning to attend a Harcourts Holmwood Auction:

• Please arrive at the auction room at least 10 minutes prior to your auction start time.
• Please bring your Vaccine Pass provided by the NZ Government with you (either on your phone or printed). as a
QR Code for us to scan. You can download this from mycovidrecord.health.nz
• Other vaccine certificates or documents will not be accepted – only the NZ Government Issued Vaccine Pass.
• Please also bring photo ID with you.
• Upon arrival at our Auction Room your Vaccine Pass will be scanned at the door, using the NZ Pass Verifier,
before entry will be allowed. You may also need to provide proof of ID.
• Once in the foyer you will still need to sign in using the NZ COVID Tracer App and register for entry.
• We ask for your patience and kindness to our support team as they guide you through this process. We are here
to help and we also understand that these rules may be challenging.

If you are planning to bid on a Harcourts Holmwood property and are unvaccinated:
• We are here to help and you will still be able to bid and buy property at auction.
• Please contact the agent you are working with, or the listing agent for the property, and let them know that you
would like to bid at the auction but are unable to attend in person (you do not need to disclose your vaccination
status).
• The agent will provide you some paperwork to authorise them, one of our managers or a person of your choice
to be in the room to bid on your behalf.
• On the day you will be on the phone with your chosen representative, and they will relay your bids on the floor.
• You’ll also be able to watch the auctions online via our website.
• We often have bidders on the phone during auctions when they can’t attend in person and are very experienced
in managing this process well.

If you are a Harcourts Holmwood Seller and are unvaccinated:

• We are here to help and you will still be able to sell your property at auction.
• Please let your agent know you will be unable to attend the auction in person (you do not need to disclose your
vaccination status).
• On the day you will be on the phone with your agent, your agent’s manager or a chosen representative, and they
will relay to you the bids coming through.
• You’ll also be able to watch the auctions online via our website.
• If we require any advice or decisions from you our auctioneer will leave the floor of the auction to talk with you
privately over the phone.
• We often have sellers on the phone during auctions when they can’t attend in person and are very experienced
in managing this process well.

HARCOURTS HOLMWOOD
HARCOURTS
– HOLMWOOD
NZ COVID-19 –
PROTECTION
WE’RE YOURFRAMEWORK
PEOPLE
 Best Practice Guide
Auction

DISCLAIMER: The information contained in this document is not intended to form professional legal advice or legal opinion
on any particular matter.

1. General

1.1 When conducting the sale of a property by auction, members should not engage in any conduct which is misleading or
deceptive or is likely to mislead or deceive. This principle applies to conduct prior to, at and after the auction.

1.2 Nothing in this Guide limits or diminishes members’ obligations to report suspected misconduct or unsatisfactory
conduct of a licensee to the Real Estate Agents Authority as required under the Real Estate Agents Act 2008 and/or its
regulations.

2. Before the Auction

2.1 Members should not advertise a property as being for sale by auction unless there is intended to be an auction and
unless a written auction authority form has been duly executed by or on behalf of the seller.

2.2 Members should provide a copy of this Best Practice Guide to prospective sellers prior to having them sign the auction
authority.

2.3 Sellers should sign an acknowledgment of acceptance of the terms of this Guide, which should form part of the
auction authority.

2.4 Prior to the auction, the member should make available for inspection the terms and conditions under which the sale
of the property by auction will be undertaken.

2.5 If applicable, the member should specify in such terms and conditions of sale that the seller reserves the right to bid
either personally or through an agent.

2.6 The member should make this Guide available for inspection prior to the auction.

2.7 Members should make reasonable endeavours to inform all interested parties if a property is to be withdrawn from
auction or is to be sold prior to auction.

3. At the Auction

3.1 The auctioneer should conduct the auction at all times with integrity and in compliance with the law of New Zealand
and this Guide.

3.2 The terms and conditions of sale should be on display and available for inspection, together with this Guide, at the
auction. Any portion of the terms and conditions of sale relating to the description of the property will be read aloud by the
auctioneer at the commencement of the auction of that property.

3.3 Before commencement of the bidding for a property, the auctioneer should announce whether the seller has set a
reserve price. The reserve price, if any, should not be disclosed to bidders.

3.4 Before commencement of the bidding for a property, the auctioneer should announce whether the seller has reserved
the right to bid one or more times at any level below the reserve price at the auction and, if so:

(a) Whether the member has been appointed to bid on behalf of the seller and, in such case, that all bids made on behalf
of the seller will be made and declared by the auctioneer; or

(b) Whether the seller or some other person will be bidding on behalf of the seller and should identify that person in
which case any bid made by that person should be declared by the auctioneer.

Neither the member nor any salesperson engaged by the member should make or assist any other person to make any bid
on behalf of the seller in contravention of any announcement by the auctioneer pursuant to this clause. The member, or
any salesperson engaged by the member, should immediately advise the auctioneer of any bid which they believe to be
made in contravention of this clause.

Best Practice Guide - Auction, V1.2, 29 April 2014 Page 1 of 2

 Best Practice Guide
Auction

3.5 Where the seller does not provide the auctioneer with a written reserve prior to the auction, the auctioneer should
announce that the property is to be sold without reserve and no bid should be made by or on behalf of the seller at the
auction.

3.6 In making a bid on behalf of the seller at the auction, the auctioneer should exercise his/her independent judgement.

3.7 Where in advance of the auction, any contractor/employee of the member or the auctioneer has been requested to
bid for a prospective buyer, whether that buyer is present or absent, the auctioneer will announce that fact and identify
those contractors/employees who will be so bidding.

3.8 The auctioneer should ensure that the amount of any bid is clearly stated.

3.9 The auctioneer may refuse any bid.

3.10 The auctioneer should resolve any disputed bid in accordance with the terms and conditions of sale governing the
auction.

If such terms and conditions do not specify how disputed bids are to be resolved, then the auctioneer should resolve any
disputed bid in accordance with the Particulars and Conditions of Sale by Auction 4th Edition (or any document approved
by the REINZ in substitution thereof).

3.11 Under no circumstances will a bid by or on behalf of the seller be exercised by the auctioneer at or in excess of the
seller’s reserve price.

3.12 The auctioneer will always clearly announce if the property is about to be sold under the hammer.

3.13 Subject to the reserve price being reached, the highest bidder should be the buyer.

3.14 If the seller so instructs, the auctioneer will announce during the course of the auction that in the event of the
property being passed in the highest bidder will have the first right of purchase of the property at the seller’s reserve price.

4. After the Auction

4.1 If a property is passed in at auction, no post auction advertising for the property should make any reference to any
seller bid made for the property at the auction.

Best Practice Guide - Auction, V1.2, 29 April 2014 Page 2 of 2