Guide For Buyers. Online, Transparent, Convenient Auctioneers Licensed across Australia & New Zealand

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Arnold Todd
5 years ago
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1 Guide For Buyers Online, Transparent, Convenient Auctioneers Licensed across Australia & New Zealand APAX.COM.AU ONLINE REAL ESTATE AUCTION AUSTRALIA & NEW ZEALAND

2 First things first...it s simple. Apax.com.au is an online platform designed to streamline the process of buying a property, making it a convenient, less stressful and a more pleasant and efficient process. Apax.com.au is fully regulated in every state and territory of Australia and New Zealand. Apax.com.au offers properties by online auction, expression of Interest and private treaty offer depending on the seller s decided sale method. Each property will have dashboard displaying the contract, disclosure documents and any required notices, together with some general information and a chat function to privately communicate with the agent. So it s simple and very transparent Online Access to register and bid wherever there is an internet connection gives you freedom and convenience. Secure Legal Compliance, registered auctioneer. Registered Bidders, genuine bidders. Enforceable Contracts. Privacy & Comfort Make decision and bid where you are most comfortable, without the pressure and stress of an onsite auction. (inclement weather conditions, nosey crowd & bystanders etc.) Simple User friendly, intuitive, step-through process All documentation is displayed on your dashboard. Chat function to speak directly to the agent. Alerts to your and phone by SMS. Transparent All bidders are registered. All bids disclosed and visible online. Extensive Display of auction proceedings. Final Call The three minute countdown extension means you will always have an opportunity to make a further bid before the auction closes if you are outbid within the last three minutes of the auction.

3 The Process 1 Inspect property 2 Register to bid on apax.com.au 3 Receive invitation from agent to bid 4 Bid online once the auction commences 5 Exchange contracts and pay the deposit

4 Registering to Bid... If you like a property and are interested in bidding on the property you simply register an account and then proceed to register to bid on the particular property you are interested in. It is a requirement that you register for each property you intend to bid on and satisfy the ID check (driver s licence or passport and rates notice with your name and current address). Once you have a registered account this is very quick process as your details are already stored in the system. On registering to bid on a particular property the agent for that property will accept your registration to bid or request further information from you before permitting you to bid for the property. Once you are an accepted bidder you will be allocated a bidders number and you will be able to bid on the property once the auction has commenced. Auction Process The auction date and time will be advertised throughout the marketing campaign, if you have registered to bid in advance you will be sent a reminder by and sms one hour before the commencement of the auction. The auction runs for half-an-hour, unless there is further bidding within the last 3 minutes of the auction in which case the auction will run for a further 3 minutes. When the auction starts there will be a starting bid, under which offers will not be considered. This is not a vendor bid. There is a bidding history, which is displayed on the auction page recording all bids, bid amount & bidder s registration ID number updated in real time. Any announcements made by the auctioneer or by the agent through the auction platform will be displayed on screen. As each bid is made the system will display whether the reserve price has been met, together with the bid amount and the current bidder s ID number in real time. Once the Reserve Price has been met all bidders will be advised by display notification at the top of the auction screen. If there are any Vendor bids made by the vendor or on the vendors behalf these will be clearly identified as a Vendor Bid and recorded as such in the bidding history. Final Call for Bids if there are any bids received within the last three minutes of the auction, the auction countdown timer will push back to three minutes remaining. Allowing all bidders fair and reasonable time to place bids before the auction timer hits 00:00 that is the symbolic fall of the hammer. If you are the highest bidder at the time the countdown timer hits 00:00 and the reserve price has been reached or exceeded then you will be the successful purchaser and the property is yours. If the Reserve Price has not been met when the countdown time reaches 00:00, the property will be passed in and the property will be available for private negotiation with the agent by clicking on the make an offer button on the view property page. Once the timer reaches 00:00 the virtual hammer falls (and if the reserve price has been met or exceeded) there is a binding contract in place. If you are the successful purchaser, you will need to organise the exchange of contracts with the agent and pay the purchase deposit to the trust account specified in the sale contract. (Please note: you will never be required to pay any financial transaction online for the property through apax.com.au) Auctions run for half-an-hour from the start time, which will be visibly displayed by the countdown timer at the top right hand corner of the auction page screen.

5 The laws for conducting auctions in Australia and New Zealand are designed to ensure a transparent and fair process. The apax.com.au platform is subject to those same laws across the state, territory and national jurisdictions in which we operate. There is a licensed auctioneer overseeing all auctions across Australia and New Zealand. Through careful design we have created an online system that enhances the transparency and fairness of the auction process across Australia and New Zealand. We provide and potentially enhance the protection and opportunity of the auction participants through this systematic design backed by industry experts, expert legal advice and maybe most importantly decades of real estate auction experience.

/your guide to buying at auction. brad bell

/your guide to buying at auction brad bell It may seem difficult, or even daunting, but the truth is there are many advantages of purchasing at auction. When the buyer and seller meet, and a conclusive