Unit of competency Outline

Date retreived
22/07/2026 8:38 PM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Complete post-auction process and contract execution

Complete post-auction process and contract execution

Unit of competency
National Code
CPPREP4163
State Code
OAQ91
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
21/03/2019
View on TGA
State Implementation and Classification
Approved Date
03/06/2020
Field of Education
080503 - Real Estate
Original Release Date
03/06/2020
Nominal Hours
15
Description
This unit specifies the skills and knowledge required to complete post-auction process and contract execution.It includes identifying successful bidder and confirming their legal entity, completing contract details, ensuring that all required signatures are obtained and completing and maintaining records of the auction.The unit applies to auctioneers or people seeking to work as auctioneers. State or territory licensing requirements may apply to this unit.
Notes
Elements and Performance Criteria
1 Identify successful bidder.
  • 1.1 Confirm identity of successful bidder.
  • 1.2 Respond to any disputes regarding winning bidder status.
  • 1.3 Confirm authority of bidder acting on behalf of another party.
  • 1.4 Identify legal entity to enter contract.
  • 1.5 Ensure contract contains correct details and any variations to contract terms as allowed by relevant regulations.
2 Execute contract.
  • 2.1 Ensure both parties have signed the contract of sale.
  • 2.2 Explain ramifications of either party refusing to sign the contract.
  • 2.3 Exercise authority to sign on behalf of the vendor where this has been specified.
  • 2.4 Implement contingencies where one or both parties refuse to sign.
  • 2.5 Confirm payment of deposit within contract terms.
  • 2.6 Identify circumstances where issues related to contract execution are outside of scope of authority.
3 Maintain records of auction.
  • 3.1 Complete post-auction documentation according to legislative requirements.
  • 3.2 Maintain records of auction according to legislative requirements.
No information
No information
No information
State Code National Code Title Type
AD910 CPPSS00068 Auctioneering Skill set
BEH9 CPP41419 Certificate IV in Real Estate Practice Qualification