Ask anything.
Here's the short version.
Quick answers, in plain language. For the full legal picture, read our Terms of Public Auction.
Yes. Most buyers still obtain financing. The difference is that financing approval must be arranged before bidding — the purchase is not contingent upon loan approval after the auction.
Absolutely, and you should. All inspections and due diligence should be completed before the auction. Once you bid, you're presumed satisfied with your investigations.
Your deposit check (if applicable) will be returned or destroyed in accordance with the registration procedures.
Yes — buyer's agents are welcomed and encouraged. Agents may register buyers, advise clients, attend inspections, assist with due diligence, and bid on behalf of clients where properly authorized.
The seller sets a confidential minimum price they're prepared to accept. Once bidding meets or exceeds that reserve, the property is declared on the market and the highest bidder generally secures it.
No finance, appraisal, inspection, or sale-of-another-property contingencies after the auction. If you're the successful bidder you're committed to closing — bring your due diligence to the room.
Unless expressly stated otherwise in writing before the auction, yes — properties are offered AS IS, WHERE IS, with all faults. Run your inspections beforehand.
In person, online, by telephone, through approved proxy authorization, through approved agent representation, or via hybrid methods. Remote bidders may have additional participation requirements.
Upon the fall of the hammer (or when the auctioneer announces the reserve has been met and the property is sold), a legally binding agreement is created between the seller and the successful bidder.
It's clean and straightforward — it creates urgency, generates competition, reduces time on market, and produces stronger negotiating environments with fewer conditional contracts.