Frequently asked questions
Can I use Sale Ezy on my phone or tablet?
Sale Ezy is built with a responsive design, meaning it is accessible and can be used on mobile and desktop devices. We are also currently working on a mobile app to make using Sale Ezy even simpler when you’re on the go.Ask a Question
Bidding and buying
How do I know my bidder's number is secure?
You will receive an email upon approval of your registration that provides you with a secure bidder's number specific to one property auction (you receive a new number for each subsequent auction for which you register to bid).
This number must not be given to, or be used by any other party. You are responsible for the security of this number once it is sent to you. Any bid lodged by this number will be deemed your bid. You will be liable under contract for this bid if successful at auction.
Each time you become the highest bidder, you will receive an email which again confirms you are the only person using your number.
Why can’t I use my bidder number twice?
While it may be easier for you to continue to use the same bidder number in any auction you participate in, the law requires you to re-sign up to bid in any new auction and to receive a new bidder number. This is done to protect bidders and vendors.
Why do you need me to upload my ID?
It is required by law that the agent, in this case the vendor, is able to see a bidder’s ID. When the hammer falls, if you are the successful bidder, your details will be sent to the vendor, and the vendor’s details will be sent to you – it is then your responsibility to ensure you verify the ID is accurate before you sign contracts or exchange funds. Your solicitor can take care of this for you by simply asking the solicitor of the other party to verify ID, or if required, an in-person or skype introduction may be made.
Sale Ezy has three levels of ID validation so we can help ensure IDs are presented and are accurate. A third party ID check will be undertaken to validate identity, and your solicitor will also be asked to verify who you are and that you have the right to sell. ID verification is ultimately the responsibility of the vendor and buyer, so solicitors are asked to perform one last check before exchange.
Once you upload your ID it will be removed from online storage and kept securely offline.
How much does it cost to register to be a bidder?
When registering to be a bidder, ID verification is undertaken in three ways, one of which is by the use of a nominal credit card fee of $5. This helps verify your status as a real person and can be a further security check if required.
Sale Ezy does not require a holding deposit or any financial guarantee as part of the auction process, as all dealings are directly with the owner of the property or their legal representative.
Why does the system ask me to confirm my bid after I’ve already submitted it?
Though it might seem a bit annoying, you are asked to re-confirm your bid as all bids are final. It also means you can’t make a mistake and accidentally click ‘submit my bid’ and buy a house you don’t actually want to buy, or bid higher than you intended. All submitted and confirmed bids are final.
When can I view the property?
A vendor is required to host a minimum of two open houses, within reasonable times, so bidders can see the property in person. To attend an open house, you will need to sign up for it – this allows the vendor to expect you, and also means they can give you a more accurate understanding of their property when you meet. You can register by visiting the property display page and clicking RSVP for the time and date that suits you best.
If you want to arrange a private inspection, click on the 'Q and A' button on the property display page, select 'inspection' from the drop down at the top of the dialogue box and send a message with a suggested time and date to the vendor. Remember not to include any personal details in the message other than your name.
Note: your contact details (phone and email) will not be provided to the vendor when you sign up to attend an open house, only your name. This is to ensure no one is contacting you unless you ask them to.
What are the obligations of sellers and buyers?
Sale Ezy auctions take place completely online, meaning vendors and buyers aren’t in the same room to sign a contract or pay the deposit.
To protect both the vendor and the buyer, and ensure the sale proceeds as per legal requirements, Sale Ezy asks all registered bidders to ensure they have sought legal advice and discussed the contract with their legal council prior to bidding. If they are the successful purchaser they have two business days to complete the transaction .
Will I have time to bid?
The Sale Ezy auction process gives you time to think and make a responsible decision when you place your bid.
The auction never just cuts off at a final time. While ever there are bids placed, the auction will continue. At 'Final Call' the counter restarts when each fresh bid is placed and will continue until all bidding is exhausted. This is a fair process for both bidders and sellers.
How much will it really cost to sell my property?
Where do I get a contract from?
The contract for sale must be prepared by the property owner's solicitor (as per existing onsite auctions). This will then be made available for bidder access upon the bidder’s confirmation of registration to bid.
The document must be an original contract, not a draft contract and must have all documentation up to date and ready for exchange of contracts with a potential bidder.Ask a Question
Why do you need my ID?
Sale Ezy requires vendor’s IDs so we can validate you are a real person with a right to sell your property. This protects us, you and the buyer. We have three levels of ID validation so we can help ensure IDs are presented and are accurate. Despite this, ID verification is ultimately the responsibility of the vendor and buyer once hammer falls. If an agent is selling the property for you, they will keep a copy of your ID on file.Ask a Question
Is my property guaranteed to sell?
Sale Ezy, offers all selling users (agents or property owners) the opportunity to list a property until sold. Agents and owners can take advantage of our unique online Auction platform, and our 'Best Offer' platform that can be used until the property is sold.
After an auction, ‘Best offer’ continues displaying the property and allows potential buyers to submit offers for consideration, with contracts sent to all parties upon acceptance of an offer. You can leave a property on ‘Best offer’ for as long as you choose, and you can also select to try 'Best Offer' prior to the auction start date (in fact, we'd recommend it!).
A successful sale comes down to a lot of factors – ensuring an accurate and competitive price (which is why we ask you get an independent valuation or provide comparisons), a robust marketing process, and a simple sales process (that’s where our platform comes in). We want to ensure all agents and owners successfully sell listed properties, and our bidders find the perfect property, so we are here to help as much or as little as you require.Ask a Question
Why can’t I take my own photos and videos?
You can! You have complete control of your auction and sales process. We understand some people want to save money wherever they can, and agents may have experience in photography, but we do encourage you to consider the costs and the benefits of all decisions. For example, a photographer may you a couple of hundred dollars, but may present the property so well that you make thousands extra at auction.
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Photographers and videographers have a range of packages, come at different prices and are generally open to some negotiation – we definitely think a professional photographer is worth that little bit extra!
What if my auction needs more time?
You will set your auction date and your advertising program (we recommend four weeks) when you list your property.
We don’t recommend changing this date (though you are able to) as you will lose credibility with potential purchasers. It may discourage buyers or make them feel you either aren’t really ready to sell or just testing the market.
Plan your auction program and period carefully. We recommend an advertising period of four weeks with the auction at the end of this period, and 'Best Offer' available throughout advertising. Take into account any public holidays or major events that may affect your set auction date and confirm it with all parties involved.
You must have your contract, photos, pest and building report and any other documents ready when you list.Ask a Question
Why should I choose to have a valuation to list my property for auction?
If not using an agent (don't forget, you can use an agent with Sale Ezy!), determining a price for your property can be challenging – and your own memories and experiences in the property can influence your decision. An independent valuation means you have an objective and well-researched figure upon which to base your property reserve price. Having the right price can be the difference between a successful sale and no sale at all.
Your property report can be a valuation from a registered valuer or a valuation report from sites such as RP Data or Pricefinder. See the Seller's Toolbox for tips on setting a price.
Property reports are not viewed by the public but confirm your price setting method for State Government compliance.Ask a Question
Do I need a pest and building inspections conducted on my property?
A building and pest report not only gives a listing more credibility, it also limits the amount of people booking to go through an owner's home - if you have 10 buyers, they may require 10 pest and building inspections.
The report is optional in some states and mandatory in others, but we encourage all agents/owners to commission a building and pest report and upload it when listing.Ask a Question
Completing the sale
How do we receive the contract?
The contract for a property offered for auction will be emailed to bidders when they register. If you wish to place a bid, you should print the contract and take it to your solicitor or licensed conveyancer for advice. The version you receive is the original contract and may be signed and left at your solicitor or conveyancer's so they can facilitate exchange of contracts if you are the successful purchaser.
Although Sale Ezy works hard to ensure the accuracy of the information which is placed on its website, due to the importance associated with the purchase of land, you should always get advice from your solicitor or licensed conveyancer. Don’t have a solicitor or conveyancer? Check out our supplier page.Ask a Question
What is the cooling off period?
There is NO COOLING OFF PERIOD if the property is sold by public auction or passed in at auction. In some states this also includes if the property is sold by tender.
'Best Offer', our tender platform relies on auction conditions on acceptance of an offer and covers all aspects in each relevant State or Territory. Conditions vary from state-to-state.
Our conditions of auction require a signed waiver of the cooling off period for two (2) business days, to be supplied by the purchaser’s solicitor as a condition of contract and bidding. All registered bidders must agree to this as a condition of auction terms and conditions.
The terms and conditions of the auction gives power to the auctioneer to sign a contract on behalf of all parties on the day of the auction. An auctioneer can oversee your sale if you require this.Ask a Question
How can we sign the contract?
The contract must be signed within two (2) business days of the close of the auction. This is part of the terms and conditions of auction.
At hammer fall, full sales details will automatically be sent to the vendor, buyer and both of their solicitors. A contract will be sent well before auction day to a registered bidder.
The solicitors must work with each other and their clients to verify ID of all parties, and provide a signed copy of the contract to each other by way of exchange. This may be done by your solicitor or conveyancer by facsimile or electronic means. The original signed contract can be sent at a later date as confirmation of the exchange. How this is executed is agreed between both solicitors. The purchaser must also pay the deposit as a condition of exchange of contracts.
If a buyer doesn’t sign the contract or fails to proceed to settlement on the sale, the vendor is within their right to pursue the purchaser for breach of contract. This may result in the purchaser forfeiting their 10% deposit and being sued for damages.Ask a Question
How can we pay the deposit?
All contracts for the sale of land require a deposit to be paid. This deposit is usually 10% of the sales price. The deposit can be paid in cash, cheque, bond or electronic funds transfer. It is a requirement of all auctions that the deposit be paid on the day that the auction closes. You might wish to consider providing your deposit to your solicitor to be held by them prior to the day of auction to reduce stress. Please ensure you validate the ID of the vendor prior to providing any funds.
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If you do not pay your deposit on time, the contract will be void (this is a legal part of the exchange of contracts). It is important purchasers prepare themselves carefully for the payment of the deposit. Fund transfers may be limited to a set amount so confirm with your bank you are able to transfer the full amount of the deposit well before auction day. Your bank may be able to change your limit for a one off transaction if your limit is below the required amount.
What about financial ability to purchase?
When the hammer falls at an auction, a contract is formed between vendor and purchaser. This means that the vendor and purchaser are duty-bound to complete the contract. It is absolutely vital purchasers place themselves in a position to settle the sale. Diligent purchasers should arrange and have finance approved prior to the fall of the hammer. It is worth noting that failure to settle a property may result in you losing your deposit or being sued for 10% of the purchase price and any other losses suffered by the vendor.Ask a Question
Auction terminology and process
What are the bid increments?
A bid increment is the minimum amount the offer must increase by each time someone bids.
The bid increment for the main auction is $5,000. The Auction Display Box will display ‘minimum bid’: this tells you the current bid, plus the bid increment so you know what to bid next. You may bid above the minimum bid amount displayed at any time. During the final stages of the auction, the minimum bid increment will drop to $1,000.Ask a Question
What is the base guide price?
A base price is the price at which the auction will start – no lower bid will be accepted. This is a normal process at live auction. The base price gives you a good indication of the price range of the property.
Agents/owners are discouraged from starting auctions too far from reserve price. This helps ensure auction momentum and doesn’t waste the time of bidders who may actually be interested in a different price range.
Some states do not allow an indication of bid price or range to be displayed. The base price is not the actual price or range but the lowest starting bid a owner will accept to commence the auction. You can bid higher than this price but not below it. The owner has the right, under auction conditions, to refuse any bid that is not in their best interests.Ask a Question
What is a Vendor Bid?
A ‘Vendor Bid’ is a bid made by or on behalf of the seller. Vendors are allowed only one bid per auction under Sale Ezy auction conditions. This bid will to help start the auction or increase momentum.
Vendor bids are never placed and cannot be placed after the auction has reached reserve. The vendor bid will be displayed clearly as a 'vendor' bid so bidders can see it was placed by the vendor. Vendors do not have to place a vendor bid.Ask a Question
What is a reserve price?
The reserve price is the minimum amount the vendor will accept to sell their property. The auction is subject to a reserve price. When the bid price reaches 'reserve', ‘on the market’ will appear on screen.
Where the winning bid reaches or is above the reserve price, a binding contract is formed. This means that the vendor cannot refuse to sell and the purchaser cannot refuse to buy. Both parties are then bound to sign and exchange contracts for the sale of land.Ask a Question
What is auction protocol?
All bids will be displayed in the Auction Display Box. A bidder must be careful when making a bid. Once a bid is logged, a bidder cannot withdraw that bid. The bidder becomes bound to that bid if it is the winning bid and it has reached or is above the reserve price. This means that the bidder is the purchaser and must proceed to signing the contract. Remember, failure to sign the contract or settle the property allows the vendor to take legal action against the buyer.Ask a Question
What is the auction period?
The Auction period is the period of time which the auction is in operation and may vary from 1 hour to several days. The auction advertising period is generally four weeks. The auction may take place over any time during this period but is generally not more than one-to-three days.
The vendor can set any auction period they desire but we do recommend a shorter period as buyers may lose interest with an extended auction period and generally only bid in the final phase of the auction. Our 'Best Offer' system allows offers to take place prior to the actual auction period.Ask a Question
What is a bid log?
A log of all bids is available to the Office of Fair Trading and government compliance agencies to confirm the transparency of the auction process and prevent dummy bidding and other illegal practices.Ask a Question
What is 'Best Offer'?
Best offer is a platform that allows users to make offers that aren't displayed on screen. It can be in place before or after an auction.
You must register under auction conditions to place your offer and receive a contract. You will receive a bidder’s number to place your offer. This bidder’s number will apply during the best offer period and extend to be used if the property goes to public auction.
The Best Offer platform may run for the pre-auction advertising period, up to three days before the auction start date. An offer may be accepted by the vendor,in which case, the auction will not proceed.
The offer is accepted and agreed under auction conditions.Ask a Question