Find an Accredited “Geewiz” real estate agent using the search function on the left hand menu. If there isn’t an agent in your locality contact us at local@geewizauctions.com
If you are currently selling and would like to participate in an auction as well, ask your agent to put you on “Geewiz”. It's easy to link your sale to an auction. If they are not Accredited Agents, email their details to us at local@geewizauctions.com
Geewizauctions.com is paid by the selling agent. Geewizauctions.com receives nothing from the Seller or Buyer.
Buyers from anywhere in the world can bid for and buy your property online. You can watch offers coming in from buyers as they actually happen. Your sale is no longer just a local sale. It’s world wide. There will be thousands of potential buyers viewing and assessing their chances of making the winning bid if your property is attractive to them.
Your auction can be linked to a sale by Private Treaty. This is the usual alternative to an auction, so you can enjoy the best of both worlds. Most importantly “You will get the best price possible”
There are other considerations such as, knowing that your property is being sold by real estate agents that approve of and use the highest ethical sales practices. This does not mean that other methods are not ethical, it’s just that this method is so transparent and honest to all parties that it sets new standards.
There will be set times for viewing, giving you some respite from those unexpected and annoying quick clean ups.
If you wish to be present at viewing times it is likely the selling agent would welcome your presence. They might even appreciate it if you wanted to show viewers through your home, after all this is not a selling time it is just a viewing and question time. Bidding and buying takes place on the net, or in the agents office.
| 4. WHAT DO INTEGRITY STAR RATINGS MEAN AND HOW DO I GET THEM? |
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Each property listed for auction on geewizauctions.com can potentially receive a five star Integrity Rating. The information that is considered worthy of an Integrity Rating can be found by clicking on the 'What is star rating?' link visible on each property page. You can arrange with your selling agent which disclosures you are prepared to make.
The definition of Integrity Ratings (represented by stars) is that they;
“Support the spread of good quality, accurately represented disclosures. This enables viewers to easily rate the merits of each property.”
Whether the disclosures are complimentary or otherwise makes no difference, it is the quality and accuracy that counts.
5. ONE OF THE DISCLOSURES IS A VALUATION! VALUERS ALWAYS VALUE LOW.
WHY SHOULD I GET A VALUATION AND TELL EVERYBODY WHAT IT IS? |
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Valuations vary depending on the purpose of the valuation report. In the case of a property being valued for sale on the open market where you have a willing seller looking for a willing buyer valuers are required to carry out considerable research. Their conclusions are generally very accurate and give extensive explanations without fear or favour.
Never confuse a valuation with an appraisal. A valuation is considered a legal document. Although it is not necessary to have a valuation it carries considerable weight with buyers and bidders when they are considering their bid. They know it is worth at least as much as the valuation and like all auctions if somebody really wants your home they’ll bid whatever they have to, to get it.
You are virtually telling bidders and buyers there’s nothing to hide. You are taking away any doubts a buyer might have. What you see is what you get. The disclosures may be to your advantage or otherwise, but if there is a detrimental disclosure (in your opinion) and you hide the subject of it and the buyer discovers the problem later (as they almost always do), your sale could go up in smoke or may be subject to legal battles. So why bother with all of that?
| 7. DO I HAVE TO ACCEPT THE HIGHEST BID OFFERED? |
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If the highest bid does not meet or exceed the reserve price the answer is NO. If it does, then the answer is YES. All properties are sold subject to the reserve price being met.
Sometimes Sellers disclose the reserve price prior to bidding. This is a good idea. Buyers know that unless they meet the reserve, you will not sell.
On this site the public will always see the Owners starting bid if one is made and Actual Bids as they occur. If you choose to hide the reserve price it remains confidential until it has been exceeded during the bidding. At that point, bids will be coloured green indicating that the highest final bid will be accepted.
The owner of the property sets the reserve price. This is done confidentially with the selling agent prior to going to auction. You have the option of allowing this to remain private until it has been reached or you can make it public. The choice is yours.
Property owners are allowed to make the opening bid. Your bid will be shown on the property page. After the auction has started you cannot make any further bids, the system is locked at that stage.
| 10. CAN A BIDDER PUT CONDITIONS TO THEIR BID? |
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NO, all conditions are posted on each property so each bidder understands the terms and conditions of the sale before making a bid.
| 11. CAN I WITHDRAW MY PROPERTY FROM SALE AFTER THE AUCTION HAS STARTED? |
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YES. Provided the reserve price has not been reached your property can be withdrawn from auction at anytime until then.
| 12. WHAT HAPPENS IF SOMEBODY MAKES A LAST MINUTE BID AT THE AUCTION CLOSE TIME? |
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The auction site is programmed to stay open a clear 15 minutes without a bid. So a last minute bid means that the auction still has 15 minutes to go. In the meantime all other bidders are notified that another bid has been lodged giving them an opportunity to increase their bid if they wish.
| 13. WHAT ABOUT OTHER OFFERS OUTSIDE OF THE AUCTION PROCESS? |
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Once a property is listed for auction, ALL bids and offers are required to be placed on the website (your real estate agent will attend to this if necessary) to foster competition and for you to get the best price. Therefore, NO offers are considered "outside" of the auction process.
However if you have received a signed legal offer to purchase, and this offer, after being placed on to the website as a bid has not been exceeded within 24 hours, you are perfectly entitled to accept that offer.
Owners can accept any offer at any time provided it has been posted on the website for 24 hours.
There is a Bidding History next to the Current Bid on each property. This identifies the bidder, the amount bid the date and time it was made.
| 14. CAN I GO ON “GEEWIZ”AS A PRIVATE SELLER? |
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Unfortunately there are no facilities for Private Sellers.
The following groups can become Accredited "Geewiz" Sellers:
Real Estate Agents
Builders and Developers
Financial Institutions
Government Agencies
For information on how to become an Accredited Seller email admin@geewizauctions.com
or phone 08 9450 7960