Public’s authority to sign at an auction
Often a situation will arise whereby all parties who are purchasing a property will not be able to all attend on the date of the auction. When circumstances like this arise, agents need to be aware that a written authority to bid on the property & to sign the contracts on the parties behalf must be obtained and kept as part of the documentation as part of the bidders register. Agent’s may also be authorised by an agency agreement to bid on a parties behalf, however, this may not entitle them to also sign on the buyer’s behalf. Further authorisation will be required. For further information on this please watch this short video.