FAQ’s
- How does it work?
- Making the process as simple as possible has not been an easy task and taken a huge development effort, however, the process is now very simple. The Agent and the Seller decide they want to formally bid the process online because the old fashioned sealed bid process often left bidders out in the cold.
Agents send invites out, bidders register and are then invited to join the bidding process. The Seller can see the process live and the bidders can see how their bid compares with others. If it they are not winning they can increase their bids. The auction ends when nobody bids in the last ten minutes of the process.
The Agent then collates the bids and works wit the Seller to finalise the sale process.
It can all be viewed online on any device so there is complete visibility. It is now an easy process.
- Why do I have to agree to the terms and conditions on the site?
- The terms are very simple. They just ensure that no party is liable and protect all parties. The agent is protected, OfferSafe are protected and the bidders are protected should their bid not be accepted.
- Why isn’t the highest bid always the winning bid?
- The agent has to ensure the highest bidder can provide the funds to purchase the property. Whilst the agent completes pre-bid assessments they cannot guarantee the bidder has sufficient funds. For example, the winning bid may be subject to a sale that falls through.
- What happens if a random bid is made?
- If a bid is considered by the agent to be unrealistic it will be removed.
- What happens to my registration details?
- They are held securely by OfferSafe who guarantee not to release them to any third party