Are counter bids allowed?

Posted on June 19th, 2017

No. In some jurisdictions, the auctioneer may counter bid on behalf of the seller before a price reaches the reserve price. On The Block will not engage in this practice, a ...

Are phony (shill) bids allowed?

Posted on June 19th, 2017

Absolutely Not.

On The Block does not allow, endorse, or support this practice, which is defined as the act of bidding (or having someone else bid on your behalf) o ...

Can I bid before the auction opens?

Posted on June 19th, 2017

We understand that some bidders may not have the availability to bid during the auction period, so the opportunity to place a pre-auction bid is a possibility. The only dif ...

Can I bid if I have a contract with a Real Estate Representative or Broker?

Posted on June 8th, 2017

On The Block recognizes and supports the value of Realtors to those trying to purchase a home.  There are numerous benefits to purchasers of any property in working with a ...

Can I bid on more than one auction simultaneously?

Posted on June 8th, 2017

You may, however this is subject to your ability to acquire and produce the funds necessary to pay for the properties you purchase, including separate credit card authoriza ...

Can I purchase an property early once an auction is live?

Posted on June 19th, 2017

Once bidding is open for an auction, interested parties must participate in the bidding process for a chance to purchase the property. For many auction listings, the listin ...

Can On The Block reopen an auction if I want to make a higher bid?

Posted on June 19th, 2017

No. Once an auction is closed, and the final bid exceeds any reserve price, no additional bids will be accepted. If an auction hasn't reached its reserve price, it is still ...

Does registering for an auction mean I HAVE to bid?

Posted on July 18th, 2017

Absolutely Not!  We encourage registration for anyone who thinks there is a chance they might want to bid, but there is no requirement to place a bid. It is possible that ...

How do I involve my Realtor in the bidding process?

Posted on June 19th, 2017

When you register for any of our auctions, you will be immediately prompted to answer the question as to whether you are working with a Realtor. Should the answer be 'yes', ...

How do I register to bid on an On The Block property?

Posted on June 12th, 2017

Bidding is only available to those who have already registered on our On The Block Auction platform. Registration is simple and requires collection of contact information ...

How much is the credit card preauthorization?

Posted on June 12th, 2017

The amount required for authorization is 0.5% of the opening bid of the auction up to a maximum of $4,000.

For example, if an opening bid for a property is $500,000 ...

I am having problems registering to bid. What do I do?

Posted on June 12th, 2017

You are able to register for any property online from the moment it is visible on our site (even before bidding may open) until the auction closes. It is recommended you re ...

What do I need to bid on an On The Block auction?

Posted on June 19th, 2017

All you need to participate is an internet connection and a credit card. A pre-authorization hold will be placed (but not charged) on your credit card for ...

What happens if someone outbids me right as the auction is about to end?

Posted on June 19th, 2017

On The Block protects against this practice (commonly known as 'sniping'). Auctions are extended automatically by at least 5 minutes when any last minute bid is placed, all ...

What is a delinquent bidder?

Posted on June 19th, 2017

This is a case where a registered bidder is deemed the winner of an auction however they do not complete the transaction in accordance with the bidder requirements. Delinqu ...

What is autobidding?

Posted on June 19th, 2017

The bidder can stipulate a price ceiling that automatically increases their bid whenever a new , higher bid is posted by another bidder. Using our autobidding feature allow ...

What is the reserve price?

Posted on June 19th, 2017

A reserve price is the lowest price in which a seller is willing to sell a property. If bidding doesn't reach the reserve price, the seller isn't obligated to sell.

Why Auctions?

Posted on June 16th, 2017

One of the main struggles in the real estate market is the confusion around the 'bidding wars'.

Buyers don't know what to offer, and sellers are not always looking ...

Why can't you show the reserve price?

Posted on June 19th, 2017

Generally speaking, the reserve price will not change, however there is the possibility that a seller may bring a reserve price down after an auction has begun. For that re ...

Why do I need to register to bid on an On The Block property?

Posted on June 8th, 2017

As with traditional real estate transactions, there is a considerable amount of protection and security that must be guaranteed to both the buyers and the sellers. Registra ...

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