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BUYING A HOME VIA A TIMED AUCTION OR TIMED SALE

Have full transparency of the sales process

Interested in buying a property that’s been sold via a timed auction or timed sale? It’s not as complicated as it looks. Here’s what you need to know.

  • On holidays? No problem. You can participate at any time, from anywhere. Location is no longer a barrier to buying property.
  • Buyers can trust in the sales process: everyone can see the current highest bid or offer at all times, ensuring complete transparency.
  • Sign up for property alerts and be notified of changes and bids or offers. Take the time you need to do your research, knowing you won't miss out.
Buy-Realtair_Timed-Sale_Timed-Auction_Buyer

How does it work?

A timed auction or timed sale is run completely online and to a deadline. A timed auction is overseen by an auctioneer and is unconditional and binding. A timed sale is similar to a private treaty campaign – it’s a conditional sale, overseen by an agent and includes a cooling off period. Both are transparent, trustworthy and secure.

Icon_Interface
Register to bid using the QR Code or URL provided by the agent. You’ll need a Realtair account to participate.
Icon_Timer
Place a bid or make an offer online at any time before the timer hits zero. If you’re outbid, we’ll let you know.
icon_five minute timer
Bids or offers received in the last five minutes reset the timer for another five minutes.
icon_Price gaval
No more bids or offers can be placed once the timer reaches zero. Don't miss out!
Icon_Interface
Register to bid using the QR Code or URL provided by the agent. You’ll need a Realtair account to participate.
Icon_Timer
Place a bid or make an offer online at any time before the timer hits zero. If you’re outbid, we’ll let you know.
icon_five minute timer
Bids or offers received in the last five minutes reset the timer for another five minutes.
icon_Price gaval
No more bids or offers can be placed once the timer reaches zero. Don't miss out!

FAQ

If I’m the highest buyer, do they have to sell to me?

If it’s a timed auction and the reserve has been met, then yes. A timed auction is run as a standard auction and follows the same legal protocol as one. 

A timed sale is a conditional sale with a deadline. At the end of that deadline, it’s still at their discretion who to sell to. Their choice could be influenced by the conditions attached to your offer. For example, the settlement periods, reduced deposits or similar considerations.

When do I sign the contract?

You’ll be expected to sign the contract and pay your deposit as soon as practical after the sale is completed. The agent will contact you and talk you through the process.

What do I need to know when participating? 

The most important thing to do before a timed auction or timed sale is to ensure your finances are ready and to do your due diligence beforehand, just like any other sale. You must also be familiar with the terms and conditions of that particular sale or auction too.

FAQ

If I’m the highest buyer, do they have to sell to me?

If it’s a timed auction and the reserve has been met, then yes. A timed auction is run as a standard auction and follows the same legal protocol as one. 

A timed sale is a conditional sale with a deadline. At the end of that deadline, it’s still at their discretion who to sell to. Their choice could be influenced by the conditions attached to your offer. For example, the settlement periods, reduced deposits or similar considerations.

When do I sign the contract?

You’ll be expected to sign the contract and pay your deposit as soon as practical after the sale is completed. The agent will contact you and talk you through the process.

What do I need to know when participating? 

The most important thing to do before a timed auction or timed sale is to ensure your finances are ready and to do your due diligence beforehand, just like any other sale. You must also be familiar with the terms and conditions of that particular sale or auction too.

"A timed auction is like an auction on the day but not as intimidating – buyers are less nervous. Bidders can be at home with the comfort of their friends and family to support them with bids and making decisions."

Oscar Nicholls
Senior Sales Agent, Raine & Horne Lower North Shore

Purchase real estate from your couch

Need help? Get in touch

Purchase real estate from your couch

Need help? Get in touch