Bid Types for our auctions

BUY IT NOW - Used for Timed Online-Only Auctions

Once a property has been input into our system with all documents, photos and assembled information, you will see on the Property Detail page the BUY IT NOW bidding engine. By clicking on it, you will be allowed to purchase the property at a fixed price offered by the seller. 

Remember that you must first register prior to bidding. Contingencies are not allowed (other than properties subject to seller approval), therefore financing must be arranged and inspections performed (or your right to do so waived) before bidding. Once your bid is accepted, your bid desposit is required. You will be asked to sign a purchase and sales agreement immediately upon notification of acceptance of your bid . Closing and transfer of title will take place within 30 days. If you cannot attend the closing, and you notify us in advance, we can handle the closing by mail,  in most cases. Otherwise, a Power of Attorney may be arranged for you.

PRE-BIDDING / PROXY BIDDING - Used for Timed Online-Only Auctions

Once you are an approved bidder, you may enter a bid immediately using this absentee process.  You must first follow procedures at ABSENTEE BID.   Enter your maximum and minimum bid on the details page and the software will bid in predetermined increments up to your ceiling as though you were present.  You will be notified once that ceiling is met and you may increase your maximum if you like in order to continue bidding.  The high bid in this case will win the property. 

There can be no contingencies on financing or inspections, therefore, no extensions are allowed. You will be asked to tender your bid deposit, sign a purchase and sales agreement and proceed to closing within 30 days. If you cannot attend the closing, and you notify us in advance, we can handle the closing by mail, in most cases. Otherwise, a Power of Attorney may be arranged for you.

TIME OF AUCTION BIDDING for Timed Online-Only Auctions

The Timed Auction will have a specific start and end date and time.  When the auction begins,  "Auction Time Bids" can be placed on the details page of the property being auctioned.  As you enter bids, the system will relay messages to inform you if your bid has been accepted or if it's too low.  If it's too low, you will have the opportunity to bid again.  Each bid will be recorded and as you are out bid you will receive an email asking you to  bid again until the auction is over. 

LIVE AUCTION BIDDING

During a LIVE AUCTION you will use the bidding application to place your bids.  At all times the auctioneer will guide you through the bidding process.  Your bidding application will continuously keep you synchronized with the bidding activity. 

If you are unable to attend a LIVE AUCTION you may enter a PRE-Bid by contacting our bidding administrator at admin@intlrealtyauction.com.  Send us an email containing property address and sale date details and a representative will contact you as soon as possible.

WINNING BIDDERS

You will be notified if you are the high bidder in any case for ANY type of bidding. You will need to be prepared to tender your bid deposit on that property immediately and sign a purchase and sales agreement in order to proceed to the closing which will occur in 30 days or less.  The auction team and the local Realtor managing that property will be available to help with the details leading up to the closing date.  You may want to consider such things as a termite clearance letter, owner's title insurance, a homeowner's warranty on the property, etc.

Any information needed,  CONTACT US