Victorian Consolidated Legislation

Sale of Land Act 1962 - SECT 41

Permissible vendor bids

41. Permissible vendor bids



(1) Despite section 38(2), the auctioneer of land at a public auction may make
a bid on behalf of a vendor of the land if-

   (a)  the conditions under which the auction is conducted permit the making
        of the bid; and

   (b)  before any bidding started, the auctioneer orally declared at the
        auction that the conditions permit the making of the bid; and

   (c)  immediately before, or in the process of, making the bid, the
        auctioneer audibly states that the bid is being made on behalf of the
        vendor; and

   (d)  the bid is not made on behalf of a vendor who is a co-owner to enable
        the vendor to purchase the interest of a co-owner in the land.

(2) It is sufficient compliance with the requirement under subsection (1)(c)
to identify a bid as a vendor bid if the auctioneer states "vendor bid" in
making the bid.

(3) It is not sufficient compliance with the requirement under subsection
(1)(c) to identify a bid as a vendor bid if the auctioneer merely identifies
the vendor by name without stating that the vendor is a vendor.