1 I presume any homebond guarantee in place will automatically be transferred over to us as part of sale - presume this is a standard contract clause
It applies to the property so its not in the contract. Be aware though that the Homebond guarantee will be voided if any defect subsequently claimed for would have been obvious to your surveyor - not getting a surveyor is not a good idea.
2 when we sign how long do the vendors have to sign then - ie if we sign can the vendors wait indefinitely to sign
Forever if they want - but you decide in your own head how long you will wait
or do these contracts include a standard time limit after which point our signature is invalid if the vendors dont also co-sign and we can walk away and get our deposits back etc
No standard time limit. The Auctioneer should have discussed price, contents and closing date with both parties so both should know the anticipated time frame which will have ramifications for contract signature. All you do is kepe a close eye on it and if there seems to be a delay, ask why.
mf