everyones a real estate expert
anyway, auction conditions only apply 3 days prior and 3 days after a publicly advertised auction. you dont HAVE to have documents checked prior to signing as you have a 3 day cooling off period at all times except auction scenario. Also if you get paperwork checked first you have NO cooling off period once signed. Its all stated clearly on the front page of any contract you sign.
i would hardly call 270 then selling for over 300 "under quoted" 10% is standard and guidlines allow for 15% on an auction..
really its your gamble if an agent calls says there is an offer before hand, if your not convinced dont do anything if it sells dont cry like a baby that you 'missed out' (happens allllllllllll the time) most agents wont say there is another offer unless there is, cos if there isn't and then it doesnt sell it makes the agent look dumb, gives the buyer no confidence in you making negotiations harder.
Most people's perception of agents is so old school its not funny its regulated heavily now most the bs ppl talk about is from like the 80s.
under 50m can be a bitch some lenders want minimum 50% deposit for places of that size.. try go direct to your bank i dont like brokers much and remember for the life of the loan they are getting commission out of it.