Property Auction Buyers Handbook

Buyer’s Handbook: A Guide to Buying Property through OneAuction

Introduction:

Welcome to the property auction Buyer’s Handbook, your go-to resource for understanding the process of purchasing properties through online auctions with OneAuction. This handbook aims to provide you with a clear and concise overview of our online auction process, ensuring you have the knowledge needed to navigate the world of digital property auctions effectively. Let’s get started!

1. Registration and Account Setup:

• Create an Account: Visit the OneAuction website and sign up for an account, providing the necessary information and completing the registration process.
• Verification: Verify your account by following the instructions provided and submitting any required documentation to ensure a smooth and secure bidding experience.

2. Property Listings and Research:

• Browse Listings: Explore the property listings available on the OneAuction website, filtering them based on your preferences and requirements.
• Property Details: Click on a property to access its detailed information, including descriptions, photographs, floor plans, and legal documents for due diligence.

3. Pre-Auction Preparation:

• Legal Due Diligence: Review the legal documents provided for each property, which may include title deeds, leases, and any other relevant information. Seek legal advice if needed to ensure a clear understanding.
• Financing: Arrange your finances in advance, ensuring you have the necessary funds or mortgage pre-approval to participate in the auction.

4. Bidding Process:

• Auction Timelines: Familiarise yourself with the auction start and end times for each property you’re interested in.
• Place Bids: Submit your bids directly on the OneAuction platform by entering your desired amount. You may also have the option to set proxy bids or enable auto-bidding.
• Real-Time Updates: Stay informed about the status of your bids through real-time updates on the platform.

5. Winning and Post-Auction Process:

• Successful Bid: If your bid is the highest when the auction closes, you will be the winning bidder.
• Buyer’s Premium: Understand the buyer’s premium, a fee added to the final bid amount, and ensure you factor it into your budget.
• Contract Exchange: Once the auction concludes, the OneAuction team will guide you through the contract exchange process, including the necessary documentation and payment details.

6. Payment and Completion:

• Payment Deadline: Ensure that you meet the specified payment deadline for the purchase price, including any deposit or fees required.
• Completion and Possession: Coordinate with your solicitor to complete the purchase and arrange for the transfer of possession.

7. Support and Resources:

• Customer Support: Reach out to the OneAuction customer support team for any questions or assistance you may need throughout the auction process.
• Resources: Access additional resources provided on the OneAuction website, including guides, FAQs, and video tutorials to enhance your understanding of the platform.

Conclusion:

You are now equipped with a comprehensive understanding of the online auction process with OneAuction. By following our property auction Buyer’s Handbook, you can confidently browse listings, place bids, and complete successful property purchases through our platform. Should you have any further questions, our dedicated support team is always ready to assist you. We wish you the best of luck in your online property auction journey with OneAuction!