AU Australia property term
Property Auction
Western Australia
Plain-English definition
A public sale process in which buyers bid and the property can sell when the reserve price is reached and the highest bid is accepted.
Why this matters to a foreign buyer
Auction contracts are generally binding without a cooling-off period. Complete finance, title, building and contract checks before bidding and know the deposit required.
For step-by-step Perth and WA guides, visit Property Learning Hub.