What is a timed auction?
A timed auction is an auction format where buyers participate online rather than in person. It is often used when buyers are in different locations to the selling agent or the property.
Timed auctions run for a set timeframe chosen as part of the campaign plan. During this period, buyers register and, once approved, can place bids online using a computer or smart device.
At the end of the auction timeframe, if the reserve price has been met, the highest bidder is the successful purchaser, subject to the standard requirements of the transaction set by the selling agent and the relevant rules in that location.
Disclaimer
All information contained within the Frequently Asked Questions is general information, advice, recommendations and answers.
The information does not take into account the particular needs and circumstances of individuals and companies, or legislation governing auctions of various countries and states.
Before listing or selling your property at auction you may wish to seek independent professional advice.
Every effort is made to provide information that is accurate. However, the information contained within the Frequently Asked Questions are subject to change at any time.
RE Software Pty Ltd gives no assurance or warranty that information is current and takes no responsibility for any information provided.
Posted 28th February, 2025