Frequently Asked Questions

FAQ

Each property will have a dedicated Auction Manager who will provide technical assistance with functions of registration for the auction, as well as answer any questions related to the bidding platform and general customer service support.

"As is, Where is" means buyers will purchase the property with no guarantees in regards to the condition of the property. Buyers should rely entirely on their own information, judgement, and their inspection of the property. We invite you  to inspect the property during viewing times and dates. You'll have ample access to help you assess the available property. Please contact the designated Property Representative for questions regarding the property or to make arrangements

Yes, you will be able to access due diligence in the Documents section of the property page. This section contains due diligence that the Seller and/or Agent has prepared to help you make a more informed decision about the property. This information may include, but is not limited to, items such as the home inspection report, termite inspection, area information, purchase contract, and terms and conditions of sale.

 Contact the Support  or click the “Request A Showing” link on the property’s page to schedule a time to preview outside the normally scheduled times.

 Contact the Support  or click the “Request A Showing” link on the property’s page to schedule a time to preview outside the normally scheduled times.

Auctiontrade.AI offers a variety of different types of auction formats, such as reserve auctions, sealed bid auctions, and absolute – no minimum, no reserve auctions.

At Auctiontrade.AI, we welcome broker participation. All you have to do is have your broker contact the designated Auction Manager, and we will provide them with the Buyer Broker Registration Form.

Bidding
Once you are approved to bid and bidding opens to the public, you can place bids on one or multiple assets up to your approved bid limit. Please note that your bid limit applies at the sales event level – if you are bidding on multiple assets and happen to win a sale, your bid limit will be decreased by the high bid on that property.
 
Placing a Bid
To place a bid during a sale, simply click the Place Bid button. You will be prompted to confirm your bid amount. Note: as with your registration, placing a bid confirms again that you have agreed to abide by the Terms and Conditions of the sale.
 
The default bid amount is the next minimum bid increment. Users are allowed to bid above the minimum bid increment by typing in a specific bid amount, clicking Place Bid, and confirming the bid.
 
Auction Clock
A countdown clock is included on each asset page. This indicates the total time remaining in the auction. The clock will reset to 3:00 minutes if either of the following events occur:
 
A bid is placed with under two (2) minutes remaining.
The bid increment is lowered with under (2) minutes remaining.
Auction Results
A sale can result in an asset either expiring, being sold, or being sold subject to seller approval. High bidders will be contacted by Marketplace with further instructions should the asset be sold or sold subject to seller approval.
 
Platform Fee
A 5% Platform Fee is due on all assets sold on the platform unless an alternative Platform Fee is specifically posted on the asset webpage. Such Platform Fee is in addition to the purchase price and due at closing, along with the amount of the purchase price for the asset (as provided in the Purchase Agreement). This fee is not negotiable.
 
If you have any questions or need assistance on the bidding process, you can reach us at 305.725.3880 or support@auctiontrade.ai

You can register for an online auction through www.auctiontrade.ai.com. Simply click “Online Auctions” in the BUY menu. Find the auction you are interested in and click the button that says “Login & Register to Bid.” Then follow the instructions to register. You will be notified when your registration has been approved. After you have received approval notification, you can return to the auction at any time when bidding is open, log in, and bid

We recommend that you register as soon as possible. This allows you to become familiar with the online process and makes things easier when the auction opens.

Registration allows you to save properties in your watchlist, sign up for auction alerts, as well as access certain restricted features of the site

No. You must register to be able to bid, but registration does not in any way obligate you to bid.

Go to SimpliOffer.com and register to bid on an auction. As a buyer’s agent, you will not be required to put down a credit card like a buyer would.

No, that will be collected once you have the winning bid. The sellers will review and will have the ultimate say to accept, reject or counter the winning offer.

Absolutely not! We have agents all over the nation from all different brokerages use our system and help bring transparency to your transactions!.

Why wait? Register today!