Target price: $610-625k with conditions
Passed in = you get first right to negotiate price, deposit, conditions, settlement. A much stronger position than winning at auction.
| Win at Auction | Passed In | |
|---|---|---|
| Price | Fixed | Negotiate down |
| Deposit | 10% now | 5% in 3 days |
| Building inspection | Too late | Add condition |
| Finance condition | None | Add 14 days |
| SC 25 (3pm settle) | Stuck with it | Remove it |
| SC 2 (deposit release) | Stuck with it | Remove it |
| Cooling-off | None | 3 days (if signed 3+ days after) |
| Settlement | 30 days | 60-90 days |
No bank cheque needed. You're not planning to win at auction. If passed in, deposit terms are negotiated before you sign. You can arrange EFT within 1-3 business days.
This is an estimate. You won't know the actual reserve until you hear "on the market" (met) or "passed in" (not met).
Based on: listing range $600-660k, agent practice (reserve near top of range), 22 Forster sold $650k.
Could be higher. Vendor may set $650k+ if they think golf backing justifies it.
| If Reserve Is | Your Position |
|---|---|
| $620k | Easy pass in. Negotiate from ~$600-615k |
| $640k | Still passes in. Negotiate from ~$620k |
| $660k+ | Certainly passes in. Even more leverage |
Higher reserve = better for you. Bigger gap = more motivated vendor.
If another bidder outbids you by $2.5k at the end — they get first right to negotiate, not you. Stay the highest bidder.
No conditions. 10% deposit now. SC 2, SC 25 all apply. Contract signed today. Your passed-in play is over.
"On the market" means the current highest bid has already hit reserve. It WILL sell. The next bid wins.
| Scenario | Result |
|---|---|
| You bid $610k. Auctioneer says nothing. | Safe — below reserve |
| You bid $615k. Auctioneer says "on the market". | Your bid hit reserve. If nobody else bids, you own it at $615k — at auction terms. |
| You're at $615k (yours). Auctioneer says "passed in". | Perfect. Negotiate. |
Be the highest bidder in the $600-615k range where you're comfortable owning it even at auction terms, but low enough that it's almost certainly below reserve. Let it stall. Let it pass in.
"22 Forster Ave — 3 bedrooms, no golf course — sold at $650k. This is 2 bedrooms."
| Condition | Ask For | Why |
|---|---|---|
| Finance | Subject to finance, 14 days | Protects you if loan falls through |
| Building inspection | Subject to building, 7-14 days | Can walk if major issues found |
| Settlement | 60 days (not 30) | More time to arrange everything |
| Term | Current (Bad) | Ask For |
|---|---|---|
| SC 25 | Settle by 3pm — conveyancer says unreasonable | Remove or change to standard |
| SC 2 | Vendor gets deposit early | Remove — deposit held in trust |
| SC 18 & 31 | "As inspected" no warranties | Less critical if you have building condition |
| Term | Ask For |
|---|---|
| Amount | 5% (~$31,750) instead of 10% ($63,500) |
| Timing | Within 3 business days via EFT |
| SC 2 removal | Deposit held in trust until settlement (not released early) |
You don't need a bank cheque to register or bid. Deposit is only due when you sign the contract — and after passed in, you negotiate those terms first.
Executors want this done. They'll accept flexible deposit terms to close the deal. A 5% deposit via EFT in 3 days is standard for post-auction private sales.
Call Omar the moment it passes in. He can advise on every term in real time.
| Config | 2 bed / 1 bath / 4 cars |
| Land | 649m2 |
| Special | Backs onto The National Golf Club |
| Listing | $600-660k |
| Fair value | $640-680k (blended 3-method) |
| Rental | $480-500/wk |
| Key comp | 22 Forster Ave: 3-bed, no golf, sold $650k (Jan 2026) |
| Anchor comp | 6 Norfolk Cr: 2/1/4, 635m2, $647k (May 2025) |
Agent used only 3-bed comparables for a 2-bed property. If sells above $660k, file complaint at forms.consumer.vic.gov.au/uq. Penalties up to $38k/breach.
HomeScorePro · Data refreshed 6 Feb 2026 (1,000 records)
Not professional valuation advice.