Is this an Auction?
No, this is a register of offers on properties for private sale. Buyers are still able to submit offers with conditions and all registered parties can see competing offers.
Do I have to supply credit card details to register?
The selling agent may request a pre-authorisation during registration to make an offer on a property (usually $1) This will register as a hold on your credit card but will not deduct any funds regardless of the outcome of your offer.
How do I login to make an offer on a property?
Please check your invitation email for your unique web address as this is the only way you can access the offer process (if you don't have an invite, you can sign up for future properties). If you have been invited to make an offer on more than one property, you will have a different unique web address for each one. If you no longer have the email that was sent to you, please let us know and we will resend it.
What happens after the sale closes, do you keep my information?
Two weeks after the conclusion of the sale all collected sensitive information will be deleted from the site (including your password and the last 3 digits of your credit card). If you registered as a potential buyer on the property, your email address, name and contact details will be retained against the historic offer record (to assist with identifying the offer history).
Do I have to register for each property I am interested in?
Yes, each registration is only valid for the nominated property.
Can I view the relevant Sale documents?
Yes, there is a PDF download button at each property listing to allow you to download and view all relevant property sale documentation.
How long does the countdown timer go for?
After each offer the timer counts down for a set amount of time, allowing all registered buyers the chance to place a competing offer. Your agent will let you know the exact parameters of the sale. The sale is suspended each night at 11:00 pm and restarts at 8:00 am the next morning to ensure that there is no manipulation by night owl buyers!
What happens once the timer has finished?
Subject to approval by the Owner, the sale process is closed and the successful purchaser is contacted to complete the relevant paperwork. The selected potential buyer has one business day to finalise the required contract.
What happens if there is only one offer?
If the single offer has not reached the reserve for the property, the Agent (upon consultation with the Owner) will have the opportunity to make a "counter offer" which can be selected by the potential buyer at any time. Single offers can also be increased by the buyer if they feel they can make an offer closer to the expected reserve amount.