Have you ever thought about buying a bank auction property? In fact, this is one way to get a dream property at a low price. It is undeniable that many ordinary people are afraid to buy auction house because the house is a result of bank confiscation due to bad credit. Formerly to join the auction, you must go to the auction location. But now buy auction house can be online through the auction websites you can find easily on Internet.
By joining an online house auction you do not need to get out of your comfortable room, get through the crowded traffic, and when you arrive at the auction site you may have to jostle with other buyers. All you can do on your computer by first joining at least one house auction site. If you do not have any experience in following an online auction then here are some important points you should know:
You must register at least on one house auction platform
After you register you may be asked to fill in your personal data. Fill in without making a mistake. After you fill in all the required data then you will be given some kind of activation code which can only be accessed by you, yourself.
Selecting auction object
The second step is to select the auction object on the available catalog. Choose carefully and adjust to the budget you have. You must be observant in seeing the condition of the object at least that is displayed in the image provided.
After choosing you have to do this
Usually, after choosing you will be prompted to upload a soft copy of your card ID. Do not forget your taxes because it’s usually necessary. You also need to provide your account number data for the purpose if you do not win the auction then you can still receive your security deposit (which you have previously provided). For info, you may need a virtual account to deposit your security deposit.
How the auction goes
The bid is submitted by pressing the “Bid” button in the “Auction Status” menu. Before bidding, bidders must read and agree to the terms and conditions. Offer can be submitted many times until the deadline of the auction is closed (closing time). In repeated bidding, the next offer must be higher than the previous offer.
When it’s done
After the auction deadline has expired, all tender offerings shall be recapitulated by the application in accordance with the nominal / bid number and time of acceptance of the tender offer. Recapitulation of all tender offerings can be seen in the application as well as email messages.