In Australia you have to be at least 18 years of age.
Membership and bidding deposits are essential as a means to help prevent fraudulent bidding activity and safeguard the system from attempts to artificially interfere with the bidding process. To ensure that bids are genuine they can only be made by Bidding Members who have placed a $25 bidding deposit.
Deposits are refunded:
If you are not the highest bidder:
i) Automatically after the auction has closed
ii) By simple request if you want your refund before the auction has closed. There is a facility for this in your My Auction section
If you are the highest bidder:
i) If the owner refuses added conditions
i) When you have completed the Contract of Sale
There are other bidding rules in auctions for refusing to form a Contract of Sale if you are the highest bidder. Please find them in the Auction Terms and Conditions.
EXTREMELY. Deposits are lodged through the international PayPal system.
Deposits reside with PayPal until, you request a refund, the auction comes to an end or you enter into a Contract of Sale.
It is recommended that you keep a watch on the property you are bidding on. The system is designed to notify you by email should your bid be exceeded so at least check your emails.
Circumstances may change for the seller. They might remove the property from sale if the reserve price has not been met or they might accept the current bid. Remember the seller can accept any bid that has been posted for 24 hours or more, so it is advisable that if you are not the highest bidder not to wait if you intend to make another bid. You could be too late.
EASY! Your Bidding ID will be displayed on the screen. You will be notified by email and the selling agent will be calling on you to complete the Contract of Sale
The selling agent will be in touch with you during the auction. If you are the successful bidder the agent will notify you immediately. If it is possible the agent will arrange a time to see you to finalise the paperwork. Alternatively if distance makes this impossible the paperwork will be completed electronically.
NO. The owner is allowed to make an opening bid. Once the auction has started the system locks in the owners bid and they cannot bid further.
YES you can. However the property owner reserves the right to refuse a bid that that contains conditions nominated by a bidder
YES you can. You can make your offer through the selling agent. It must comply with all of the auction conditions. However your offer must be posted on the website as a bid and not be exceeded for 24 hours before the seller can accept your offer. The selling agent will attend to this for you. (There is a Bidding History that monitors times etc for all to see).
NO. All bids stand until they are exceeded.
There are documents put on the site by the selling real estate agent. You can view or download to read them. Amongst them you will find the CONTRACT of SALE and AUCTION TERMS and CONDITIONS relevant to the jurisdiction of the sale. If you are the successful bidder you can add your own conditions but they may be refused by the owner. If the owner does refuse your bid with added conditions the bidding deposit is refunded
The definition of Integrity Ratings (represented by stars) is that they
“Support the spread of good quality, accurately represented informaion. This enables viewers to easily rate the merits of each property.”
Whether the information is complimentary or otherwise makes no difference, it is the quality and accuracy that counts.
Each property can potentially receive a five star Integrity Rating. The information that is considered worthy of an Integrity Rating can be found in What is a Star rating. The amount of shared information is decided by the seller.
There is other information shown on each property. Normally buyers have to request or source this information themselves (if they know how or the questions to ask). Here they are considered mandatory. As a matter of transparency you are saved the trouble and time.
Australia welcomes people living outside the country to purchase homes, apartments and property. For more information, see the Foreign Investment Review Board rules.
You can search for auctions anywhere in Australia. Just click on map or enter ID, State, post code or the suburb of property. Alternatively you can search in the box in the left hand column; you can enter a keyword or use the filter boxes to refine your search. Key words are State or Territory, Suburb or Address and Main description.There are also searches for last minute auctions, new online auctions or even an International Buyers search box.