Property Auction Checklist

Use this checklist to prepare for a successful auction bid. Tick off each item as you go through the process.

Before the Auction

Research the property — check location, title type, encumbrances, and caveatsInspect the property in person if possible (drive by, check the neighbourhood)Obtain and read the Proclamation of Sale (POS) / E-Notice carefullyVerify the reserve price and auction terms (deposit amount, payment timeline)Check for outstanding utilities, maintenance fees, or quit rentArrange financing — get a pre-approval letter from your bankPrepare a bank draft / cashier's order for the 10% deposit (payable to the auctioneer)Bring valid IC or passport, plus a copyKnow your maximum bidding price — set a budget and stick to itRegister as a bidder before the auction starts (registration usually opens 30–60 min before)

During the Auction

Arrive early to register and collect your bidder paddleListen to the auctioneer read out the terms and conditionsBid clearly and confidently — raise your paddle when biddingDo not exceed your pre-set maximum budgetIf you win, sign the Memorandum of Sale immediatelyPay the 10% deposit by bank draft on the spot

After the Auction (If You Win)

Engage a lawyer to handle the Sale and Purchase Agreement (SPA) and transferApply for your bank loan within 7 working days (typically)Pay the balance purchase price within 90–120 days (as per the POS terms)Complete the Memorandum of Transfer (MOT) and stamp dutySettle outstanding assessments, utilities, and maintenance feesCollect the keys and take vacant possession (you may need a court order if occupied)

Sales data New launches Auctions Areas Free vs paid

Transaction data: NAPIC / JPPH registered sales from 2021. Medians shown throughout; recent quarters provisional due to registration lag. Free and open — no paywall.

Property Auction Checklist

Before the Auction

During the Auction

After the Auction (If You Win)

Related Resources

How Auctions Work

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