How to Register & Bid

Participating in an auction is an exciting and seamless experience, especially when conducted entirely online. With our fully automated auction platform, buyers can browse, register, place bids, and secure properties from the comfort of their homes. Understanding the registration and bidding process is crucial to ensuring a smooth and successful auction experience.

Registering for the Auction
  • Before placing any bids, buyers must complete the registration process, which is designed to ensure security, compliance, and a streamlined experience for all participants. Registering is simple and can be completed in a few steps.
  • To begin, prospective buyers must create an account on the auction platform by providing their full name, contact details, and proof of identity. As part of compliance with anti-money laundering (AML) regulations, buyers may also need to verify their address and submit identification documents. This step helps maintain the integrity of the auction process, preventing fraudulent activities and ensuring that only serious bidders participate.
  • Once registered, buyers are required to submit a pre-authorized payment as a bidding security. This amount serves as a commitment to bid responsibly and is either deducted from the final purchase price or refunded if no winning bid is placed. After verification and approval, buyers receive a unique bidding number or credentials, allowing them to participate in live auctions.
Understanding the Bidding Process
  • The auction system operates in real-time, meaning bids are placed instantly and updated dynamically on the platform. Buyers can engage in competitive bidding without the need for physical presence, ensuring a convenient and efficient way to acquire properties.
  • Before bidding begins, each property listed will have a starting price and a reserve price, which is the minimum amount the seller is willing to accept. The reserve price is confidential and must be met for the sale to proceed. Buyers are encouraged to set a maximum bid in advance, ensuring they do not exceed their budget in the heat of the auction.
  • During the auction, buyers can place bids manually or opt for automatic bidding, where the system will incrementally increase their bid up to their pre-set maximum limit. This feature ensures that buyers remain competitive without constantly monitoring the auction. The platform also provides real-time notifications, alerting users if they have been outbid and allowing them to place a higher bid if desired.
  • The auction follows a countdown timer system, where the highest bid at the end of the bidding period wins. However, to prevent last-second bidding manipulation, a time extension feature may be applied if a bid is placed within the final moments, giving other bidders a fair chance to respond.
Winning a Bid and Next Steps
  • Once the auction concludes, the winning bidder is immediately notified through the platform and via email. At this stage, the process transitions from the automated system to a manual transaction phase. The winning bidder is required to pay the deposit within the stipulated time, typically 10% of the final purchase price, to confirm their commitment to the purchase.
  • Following the deposit payment, the buyer will receive a contract pack containing legal documents, terms of the sale, and instructions for completing the transaction. The remaining balance must be settled within the agreed timeframe, usually within 28 days, unless stated otherwise in the auction terms. Failure to complete the transaction within the specified period may result in penalties, including the forfeiture of the deposit.
Final Thoughts

The online auction process offers a transparent, efficient, and user-friendly way to purchase properties, eliminating traditional delays and uncertainties. By understanding the registration requirements, bidding mechanics, and post-auction obligations, buyers can confidently participate in auctions and secure properties with ease. Adequate preparation, financial readiness, and strategic bidding are key to a successful and seamless auction experience.

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