On the day of the auction, the auctioneer will arrive at the property at least 30 minutes to 1 hour before the auction time. See the Inspection section [jump link to the Inspection question below] on this page for more details.
You will need to show the auctioneer that you have the required deposit which qualifies you as a bidder.
Before the bidding starts, the auctioneer will make important announcements regarding the property and your obligations as a purchaser. Please feel free to ask any questions regarding these announcements and the terms of sale.
At the conclusion of the announcement and question period, the auctioneer will solicit bids for the property. Bids are generally made either verbally or by raising a hand.
Bidding increments are made in amounts acceptable to the auctioneer, who may set a minimum bidding increment as the sale progresses.
Any bid that is merely a nominal or fractional advance may be rejected by the auctioneer if in their judgment it may negatively affect the sale.
If a dispute arises between two or more bidders, the auctioneer shall decide in favor of one of the bidders, or immediately re-offer the property.
If you have any questions on the bidding process, feel free to send us a message or give us a call.