FAQ Auctions
General Auction FAQs
What is an industrial or commercial property auction?
An industrial or commercial property auction is a public sales process where industrial, commercial, or retail properties—such as warehouses, factories, or office buildings—are sold to the highest bidder, often under competitive, time-sensitive conditions.
How does a commercial or industrial property auction differ from a residential one?
Commercial or industrial auctions differ from residential ones in terms of buyer priorities, often focusing on rental yields, zoning regulations, and future development potential.
What are the benefits of selling my property at auction?
Auctions can lead to a quicker sale, competitive bidding, and a transparent process. It provides a timeline for both vendor and purchaser and importantly is an unconditional sale.
What is a reserve price?
A reserve price is the minimum price a seller is willing to accept for the property.
What is a guide price?
A guide price is an indicative price to attract potential buyers, not necessarily the final sale price. The reserve price is expected to fall within this range.
How long does the auction process take?
The auction process generally runs for 4–6 weeks from the start of the marketing campaign to auction day. However, timing can vary based on the property’s size, location, and strategy — your agent will guide you on the most effective timeline.
Can I attend an auction in person or online?
Yes, Facey Property offers both on-site and online auctions via Anywhere Auctions, giving buyers flexibility in how they participate.
What happens if my property doesn't sell at auction?
If a property doesn’t sell, it may be offered for private sale or re-auctioned at a later date. Commonly properties that ‘pass in’ are sold promptly via negotiation.
Are auctions legally binding?
The contract is legally binding once contracts are signed and exchanged between vendor and purchaser. This occurs immediately after the auction concludes.
Facey Specific Auction FAQs
What types of properties does Facey Property auction?
Facey Property specialises in auctioning commercial and industrial properties, including warehouses, offices, land, and retail spaces.
How does Facey Property market properties for auction?
At Facey Property, we craft tailored, end-to-end marketing campaigns to maximise exposure and attract the right buyers. This includes a strategic mix of digital advertising, social media, professional photography and videography, print collateral, database marketing, and listing placements on key commercial real estate platforms.
We select the most effective channels based on your property’s type, location, and buyer profile to ensure your campaign generates strong enquiry and achieves the best possible result come auction day.
Does Facey Property handle all aspects of the auction process?
Yes, we manage the entire process from property appraisal to post-auction negotiations. We don’t need to outsource to hire an auctioneer like many agencies. We have multiple skilled auctioneers within our organisation.
Can Facey Property assist with setting the reserve price?
Absolutely. Our experienced sales team will work closely with you to determine a realistic and strategic reserve price. This is based on current market conditions, comparable sales data, buyer interest throughout the campaign, and feedback gathered during inspections. Setting the right reserve is a critical part of the auction process, and we’re here to provide the insights and advice needed to position your property for a successful result.
Does Facey Property offer post-auction services?
Yes. Facey Property provides comprehensive post-auction support, including assistance with contract finalisation, managing the deposit process, and facilitating any follow-up negotiations if needed. Beyond the sale, we also offer ongoing Property Management services to help you maximise the long-term value of your investment. Whether you’ve purchased an industrial warehouse, office, or retail space, our expert team can handle leasing, tenant management, maintenance, and compliance—ensuring your asset continues to perform.
Can I list my property for auction with Facey Property if it's currently tenanted?
Yes, properties with existing tenants can be auctioned, and Facey Property can provide guidance on the implications. To discuss your options, get in touch with our experienced team.
How do I get started with Facey Property's auction services?
You can contact us directly via our website or call us on (03) 9701 4455 to discuss your options.
Buyer-Focused Auction FAQs
How can I find upcoming auctions with Facey Property?
Visit the “Upcoming Auctions/EOI” section on our website’s main menu to view current listings and dates.
What do I need to do before participating in an auction?
Conduct due diligence, arrange financing, and register your interest with Facey Property.
Can I inspect a property before the auction?
Yes, Facey Property schedules inspections by appointment prior to the auction date.
What happens after I win an auction?
You’ll be required to sign the contract and pay the deposit immediately after the auction concludes. The deposit amount may vary depending on the property. Ensure to do your due diligence prior to purchasing a property at auction.
Are there any fees for buyers at auction?
Buyers may be responsible for standard purchasing costs such as GST, stamp duty, and your legal costs; Facey Property can provide detailed information upon inquiry.
Haven't found an answer?
If you haven’t found an answer to your question please get in touch with us directly by emailing chad.kendall@faceyproperty.com.au or calling us on 03 9701 4455.