Frequently Asked Questions
Online Property Auction - Buying
In our online property auction, registered users can browse through a selection of properties available for sale. Once you find a property you’re interested in, you can participate in the bidding process by submitting your bids online. The highest bidder at the end of the auction will win the property.
Buying property at an online auction offers several advantages. It provides a transparent and efficient platform to purchase properties. You have access to a wide range of properties with detailed information, and you can bid conveniently from anywhere at any time. Additionally, online auctions often offer competitive prices and can provide a faster purchasing process.
To register for our online property auction, visit our website and click on the “Register” button. Fill in the required information, including your name, contact details, and any additional requested information. Once your registration is approved, you will receive a confirmation email with further instructions.
Yes, we highly recommend conducting property inspections before participating in the online auction. Property details, including inspection dates and times, will be provided on our website. You can contact our team to schedule a viewing or obtain additional information about the property.
Once you have registered and logged into your account, you can place bids by clicking on the property you’re interested in and entering your bid amount in the designated field. Ensure that you review and confirm your bid before submitting it. You may need to meet certain bid increment requirements depending on the auction rules.
Bids are legally binding, and therefore, you should carefully consider your bid before submitting it. Once a bid is placed, it cannot be retracted or modified. Ensure that you review the property details, terms and conditions, and bid amount thoroughly before placing your bid.
Yes, there may be additional costs involved in purchasing a property at auction. These may include buyer’s premiums, which are a percentage of the final sale price, and any applicable taxes or fees. It is important to review the auction terms and conditions to understand the specific costs associated with each property.
If you have the highest bid at the end of the auction, you will be deemed the winner. Our team will contact you to confirm the purchase and provide instructions on the next steps, including the completion of necessary paperwork and payment of the deposit.
Financing options for properties purchased at auction may vary. It is advisable to have your financing arrangements in place before participating in the auction. Speak with your financial institution or mortgage advisor to determine if you can obtain financing for the property.
If you require assistance or have any questions during the auction process, our dedicated support team is here to help. You can reach us by phone or by emailing info@oneauction.co.uk. We strive to provide prompt and helpful assistance to ensure a smooth auction experience.
Frequently Asked Questions - Selling Properties
Listing your property for sale through our online auction is a straightforward process. As a property auction company, we handle the majority of the work for you. Simply provide us with all the necessary details and documentation about your property, such as its location, size, features, and any relevant legal information. Our team will review the information and contact you to discuss the listing process.
Our experienced team will take care of preparing the listing, marketing the property, managing the auction process, and facilitating the sale. We’ll work closely with you to ensure your property receives maximum exposure to potential buyers and to address any questions or concerns you may have throughout the auction process.
Selling your property through an online auction offers several benefits. It provides a broad reach, allowing you to showcase your property to a large pool of potential buyers. Online auctions often create a sense of urgency and competition among bidders, potentially leading to a faster sale. Additionally, the auction format can help you achieve a fair market price for your property.
As a seller, there are no fees or costs associated with listing your property in the online auction.
Yes. A reserve price is the minimum amount at which you are willing to sell your property. If the bidding does not reach or exceed the reserve price, the property may not be sold. Our team can guide you in determining an appropriate reserve price for your property.
Potential buyers participating in the online auction can view your property listing and place bids by submitting their desired bid amounts. Bids are usually time-limited, with the highest bid at the end of the auction deemed the winner. The bidding process encourages competitive offers, potentially leading to a higher sale price for your property.
As a seller, you will receive notifications throughout the auction process. You will be notified when a bid is placed on your property, enabling you to stay informed about the progress of the auction. Our team will provide regular updates and communicate with you regarding any significant developments or offers.
If your property meets the reserve price or receives a winning bid at the end of the auction, our team will contact you to discuss the next steps. You will work closely with our team to finalise the sale, complete the necessary paperwork, at this point the transfer of ownership will be facilitated via yours and the buyers solicitors.
The duration of an online auction can vary depending on several factors, including the terms and conditions set for the auction and the level of interest in your property. Typically, an auction can last anywhere from a few days to several weeks. Our team will provide an estimated timeline and keep you informed of the auction progress.
During the listing period and auction process, you may have the option to accept offers outside of the online auction. However, it is essential to discuss this with our team and consider the terms and conditions outlined in your agreement. Accepting an offer outside the auction may impact the auction process and potential buyer interest.
We recommend familiarising yourself with the terms and conditions we provide, as they outline the guidelines for accepting offers outside of the auction. By adhering to these guidelines, you can ensure a fair and transparent process for all interested parties. Should you have any questions or concerns, please don’t hesitate to reach out to our team for further clarification and assistance.