Certified Real Estate Auctions
online auctions FAQs
What are Online Only Auctions?
Online Only Auctions provide a virtual platform that brings qualified buyers and motivated sellers together.Â The convenience of bidding over the internet is very attractive to buyers due to temporal and monetary savings. The structure of Online Only Auctions is very similar to Onsite Real Estate Auctions methods. Each of the methods has the same basic elements: sellers trading property, buyers bidding competitively, a sale being defined by preset terms and conditions as well as a defined time period.Â
What is the difference between Certified Real Estate Auctionsâ Onsite Auctions and Online Only Auctions?
Onsite Real Estate Auctions are performed the property location. Bidders are allowed to inspect the property before the auction and must attend the event to bid (a Live Simulcast Auctions would be an exception). In the case of personal property auctions, removing purchased personalty usually occurs on the day of sale or the bidder may be required to come back to pickup their items. The Online Only Auctions method of real estate sale typically opens the bidding platform two weeks in advance of the auction closing date. Certified Real Estate Auctions schedules a time for preview and inspection one or two weeks prior to the sale. Bidders are encouraged to become familiar with the property, review the property information package, and ask any questions to the real estate auctioneer. Interested parties may then register and bid online manually or utilize the âMaxBidâ feature. With Online Only Auctions, buyers can participate at the time and place of their convenience.
Do Certified Real Estate Auctions sell personal property using Online Only Auctions?
Yes. We have the knowledge and capabilities to sell personal items and have sold a wide range of property at auction. Our experience in selling personal property is vast and includes âcoon dogs to diamonds, antiques and military collectables to heavy farm equipment and crop basis. Â We have the ability to catalog and liquidate it all.
What is the difference between Certified Real Estate Auctions Online Only Auctions and eBay-type auctions?
EBay-type auctions feature one item sold to one buyer. Each transaction is independent of the other. Buyers and Sellers must perform all tasks involved in the transaction. Certified Real Estate Auctionsâ Online Only Auctions are events which may sell a variety of items to many buyers. An average personal property auction features several hundred items for sale. This allows a purchaser to perform a live inspection, bid, pay and wither pickup the item or have it shipped. The auction company handles the details of the transaction so buyers and sellers can trade and go about their business.
How do I get on the Certified Real Estate Auctions mail list?
Certified Real Estate Auctions notifies the public of upcoming auctions using periodic email blasts and by posting our online auction calendar. Our select mailing list is opt-in only, and our membersâ information is kept confidential at all times. If at any time you would like to opt-out of the email notifications, simply click âremove meâ at the bottom of the email. Our email notices are the best way to learn about current real estate investment opportunities and Online Only Auctions.
What price can I expect to get for my property?
By definition, an auction will produce the highest price in terms of money which a property will bring in a competitive and open market. The final price depends on quality, condition, quantity, location, marketing time, terms and schedule for removal. When qualified bidders become familiar with the property and the terms of sale, then compete in an open forum, market value will be determined.
Can I offer to purchase the property as a whole or in its entirety in one event?
Yes, occasionally a prospective purchaser will want to make a presale offer. However, a presale offer must be extremely competitive in order to convince a seller not to proceed with the Auction event. All reasonable offers are considered and must be made in writing. An accepted offer must be accompanied by certified funds for 15% of the total purchase price, including tax and buyers premium.
What happens in the case of technical difficulties with Online Only Auctions during the sale closing?
In case technical difficulties are encountered at the closing of Online Only Auctions, Certified Real Estate Auctions may extend the closing times/dates and make necessary adjustments.
Can Online Only Auctions be canceled before bidding closes?
Certified Real Estate Auctions may cancel, suspend, extend or reschedule an individual item and or event.
How secure is the information that is submitted for Online Only Auctions?
Why am I required to register?
For a successful Auction production we ensure quality control. Registration provides necessary contact information to qualify bidders. In order to bid, you must obtain a bidder number. Before you are assigned a number, we confirm identity and make you aware of the terms and conditions of sale. This process is designed to protect all parties involved and eliminate confusion and misunderstanding. You may register to bid here.
Is there a registration fee?
NO. In some cases a bank letter of guarantee or advance deposit may be required. For details, read the terms and conditions of the sale.
Why is it necessary to have a credit card for registration?
Credit cards are used for identity confirmation and guaranteed payment for purchases.
What happens after registration?
Once your information has been reviewed you will receive a bidder number and will be able to bid on all events. After you have been approved and assigned a bidder number, your bidder number and password may be used for all events. You will be prompted to confirm your registration for each event including acknowledgement that you have read and agree to the specific terms for that sale. Please ensure your information is always up to date.
Are inspections allowed?
Always. We strongly encourage bidders to perform any and all inspections prior to the auction event. A Â inspection period is scheduled for every Auction event. When perspective purchasers take the time to inspect and become knowledgeable about the property, they will bid accordingly and get the best deal. Bidders should be familiar with the descriptions, photos, details and terms of sale, then bid accordingly.
Do I need identification to attend the preview?
In most cases, it is not necessary to present identification at the preview. In special cases it may be required. Please check the auction terms and conditions for details.
How do I bid?
Before bidding, registration must be completed. You may register here. Once you are registered and turned on bidding is easy. You may go to the auction calendar, select the property of interest and bid. Click here for online bidding.
Place your bid in the appropriate box and your Max bid in the respective box (max bids are optional). Â at the bottom of the page enter your user name and password. Click the submit bid button and after confirming that you accept the terms of sale your bid is entered.
How are bids submitted?
Bids are placed next to the lot of choice and then the submitted when the submit bids button is clicked on at the bottom of each page. After you enter your bidder number and password, you will be able to bid.
Can I personally inspect the property being sold?
Always. We strongly encourage bidders to perform any and all inspections prior to the auction event. AÂ inspection period is scheduled for every Auction event. When perspective purchasers take the time to inspect and become knowledgeable about the property, they will bid accordingly and get the best deal. Bidders should be familiar with the descriptions, photos, details and terms of sale, then bid accordingly. Check the details for when an open house is scheduled.
Can I submit a bid offline?
Online Only Auctions are designed to provide buyers a convenient and secure platform to purchase real estate at auction. For enhanced security measures and to have the advantage of competing in real time, it is best to participate online. This will ensure that you have the opportunity to give your highest and best bid and get the best deal. In the case that a qualified purchaser does not have internet access, we will accept bids submitted in writing.
Do Certified Real Estate Auctions utilize minimum bids?
A majority of the time, a minimum bid is not set. In some cases, Certified Real Estate Auctions will allow a Seller to set a minimum, or starting, bid.
At Online Only Auctions, when do bids close? Do multiple items close simultaneously?
No, items are scheduled to close at the time stated in the Auction details. In instances when multiple properties are offered during the Online Only Auctions event, the closing times will be staggered in the order in which they appear on the bidding page. Usually, this will be in 5 minute increments. In addition, there is a time extension feature that Certified Real Estate Auctions offers bidders. When the last bid is placed, the bidding will automatically extend 5 minutes. Bidding on an item may remain active indefinitely for as long as bids continue to be placed. Bidding will not close until there has been a 5 minute period in which no bids have been placed.
Does Certified Real Estate Auctions notify me if I am outbid?
If you have been outbid you will be notified by email until midnight the day of the event. Please note that outbid notices are not sent on the day of the event closing. To quickly review your bids and see if you have won you can utilize the 'review bids' feature. Enter your Bidder Number and Password then "review bids" Items that they have been outbid on will be clearly marked.
How do I know if bidding has closed for an Online Only Auctions event?
Bidding activity status is available for viewing on the bidding page for the auction of interest.
Please note: Online Only Auctions were created to provide the Seller flexibility in selling their property. Certified Real Estate Auctions reserve the right to change, shorten, suspend or extend the event closing dates/times, inspections or removal dates/times.
Will I be notified if I am the winning bidder at an Online Only Auctions event?
At the close of bidding, a representative from Certified Real Estate Auctions will contact the winning bidders via telephone or email. For personal property auctions, winning bidders will be charged for the total contract price, including buyerâs premium, sales tax and shipping and handling where applicable. For Real Estate Auctions, winning bidders will be contacted and need to be immediately available to sign and return a contract for sale and purchase and have wiring information available for the earnest money deposit.Â It is very important that you provide an accurate e-mail address. It will be used for notifications, alerts, invoices and delivery of contracts.
How do I get the best deal for a property?
To ensure you are making a well-informed decision, carefully read the terms and conditions of the sale and take advantage of the opportunity to preview the property during the scheduled times. Be prepared to perform all inspections during that time. Feel free to bring whatever professionals you wish to assist with your investigation. Bidders that take the time to learn about the quality and condition of the property make the good decisions and get the best deals.
Can I bid during the closing of the auction?
As bidding approaches closing time, there is a flurry of activity as bidders compete for the highest and best bid. Online Only Auctions are very exciting and to ensure you have the best chance to be the winning bidder Certified Real Estate Auctions encourages bidders to take advantage of the Maxbid feature.
What is the Max Bid feature for Online Only Auctions?
Certified Real Estate Auctions offers a special feature called Max bid that allows a bidder to enter a maximum bid price. This allows the system to bid on your behalf, keeping you the 'winner' when you are unable to manually enter bids. The program works by automatically placing the next required bid amount when you are outbid. The program goes in minimum increments and only to the price you specify. Many users employ this feature to gain an advantage over others.
What if I am no able to attend the scheduled preview?
If you are interested in bidding with Online Only Auctions and cannot make arrangements to attend the scheduled preview, contact us to discuss possible options.
Can I increase my own bid?
Yes, many bidders will increase their own bid to place it out of reach of other bidders.