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I received foreign investment approval to purchase a property at auction but my final bid was unsuccessful. Do I have to seek another approval to attend an alternative auction?

April 26, 2017Approval auction bid final foreign Investment Property purchase received unsuccessful

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I received foreign investment approval to purchase a property at auction but my final bid was unsuccessful. Do I have to seek another approval to attend an alternative auction?

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Yes. The approval only applies to the property identified in the approval advice – you must seek further approval if you wish to purchase a different property (unless you are exempt).