* How do I register to bid on an Online Auction?
You must first create a profile and receive your user name and password. It is FREE and only takes a few minutes. Next find the property you wish to bid on and click the "Bid Now" button. Complete the simple registration and accept the terms of the sale. You will receive a bidding approval within 24 hours.
* Why do I need to register with a credit card if registration is free?
A credit card is required to register for bidding to ensure you are of legal age to purchase real estate and confirm identity. No charges will be billed to your credit card although some banks will hold the $1 credit in a pending account for up to 30 days. Please see your bank for details. The name on your credit card must match the profile information you provided during registration. An email will be sent to you to confirm you are approved to bid or if additional information is required. Debit cards are not recommended. The verification process debits your account $1 per registration for deposit, but immediately reverses/voids the transaction. Most banks withhold these funds for up to 30 days before returning the funds your account. Williams & Williams does not hold these funds and can not be responsible for your bank's security policies. Please see your bank for details.
* Is my information safe?
Yes. All personal information is strictly confidential, and will not be disclosed to any third party without your consent. It is kept secure and in confidence per our privacy policy.
* Will my registration for an auction automatically put me on an email list?
You must check the box to receive auction alerts from Williams & Williams. You can check any of the following options for how you would like to receive auction alerts: email, postcard or text. Upon completion of your profile information, you will receive a confirmation email with your user name and password.
* Can I view an Online Auction without registering?
Yes. Simply click on the "View this Auction" button on the property details page and it will take you directly to the bidding screen. From this page, you can both view the property and current bids as well as register to place your own bid.
* Is there a charge for using the Online Only Auction service?
There is no charge to register for an auction.
Each high bidder (buyer) must make a 5% non-refundable deposit per property (minimum $2,500) at the conclusion of the auction. Electronic wire funds, credit card, check by phone and cashier’s checks are the only forms of payment accepted. Once the seller approves the sale, the deposit will be credited to the contract.
The balance of the purchase price and all closing costs are due within 30 days. Closing costs generally total about $1,500 and include title exam, title policy, closing fee, filing costs and any other fees noted.
If indicated, a Buyer’s Premium of 5% ($1,500 minimum) shall be added to the high bid to total the purchase price. In the event a Buyer’s Premium is not charged on this property, an Auction Services fee of $1,500 shall apply.
Deposits will not be forwarded to any title company, or other party, for closing until Williams & Williams' bank has received cleared funds for the deposit.
NOTICE: If you are bidding on an On-Location or Studio Auction, deposits and service fees may be different.
* How many auctions can I bid on at one time?
There is no limit to the number of auctions that can be bid on at the same time, although you must register and be approved for each auction individually. Once registered you will continue to use the same user name and password for all auctions for which you have successfully registered.
* Can I (still) register for online bidding on the day the auction closes?
Yes. We do recommend you register at least three days prior to the sale. Please refer to the terms and conditions of each auction for specific details of that auction.
* Must I register for each Online Only Auction if I want to bid?
Yes. Each auction will have its own set of terms and conditions that you will need to read, understand and accept prior to bidding. Once registered you will continue to use the same user name and password for all auctions for which you have successfully registered.
* How do I bid online for a Studio Auction?
Once you have been approved to bid in the auction, a Java Applet will automatically be installed on to your computer. You can then click on the Bid Now Button to go to the bidder screen. When the lot number (#) you are interested in starts you can click on the Bid Button in the middle of the screen. It will show you the amount you are bidding when you click on the button. When you are the high bidder it will say you are the "high bidder" and it will not let you bid against yourself. The bar above the bid button will let you know when the bidding is about to end and when the property has sold. If you are the high bidder you will be contacted to start the closing process following the end of the auction, but less than 24 hours.
* I will not be able to attend the Studio Auction in person or online. Can I still place a bid on a property?
Yes, you can place an absentee bid. You must first register as an approved online bidder. Log in and select the property in which you are interested. Place your bid in the MAXIMUM absentee/proxy box, click the "Bid" button and confirm your bid by hitting the "Submit" button. You will receive an e-mail confirming your absentee bid. When the auction starts, the system will automatically raise your bid by the current increment and only if you have been outbid by another bidder. It will not allow you to bid against yourself and will not exceed your maximum bid. You will be contacted within 24 hours of the auction if you are the high bidder.
* I have registered, now what? How will I get access to the bidding page?
You will receive a confirmation email shortly after you register and an email reminder one day prior to the sale. These will give you a link, which will take you directly to the auction. You may also click on the "Bid Now" button on the property page the day of the auction.
* How do I bid in the Online Only Auction?
You have the choice of entering the minimum next bid or a proxy (maximum) bid into the “Your Bid” box. You can submit the bid by clicking on “Place My Bid.” The minimum next bid can be calculated by adding the predetermined bid increment to the current bid. A “proxy bid” is the maximum amount you are willing to pay for the property and should at least equal the minimum next bid amount. You may enter a proxy bid of any dollar amount (example $25,501). After placing a proxy bid we will automatically increase your bid to the next bid increment to ensure that you remain the high bidder. The system will only increase your bid if you have been outbid by another bidder, and will stop when you have reached your maximum (proxy) bid amount or have been recognized as the winning bidder at the end of the auction.
* What is an overtime period for the end time of the Online Only Auction?
If a bid is placed within two (2) minutes of the close of bidding, then another two (2) minute period commences from the time of the last bid until no bids are placed within the next two (2) minutes. The last bid shall be made final.
* What are the bid increments for an Online Only Auction?
The bid increments for Online Only Auctions are set as follows: Bids increase at $500 on amounts up to $15,000. Bids increase at $1,000 on amounts up to $30,000. Bids increase at $1,500 on amounts up to $50,000. Bids increase at $2,000 on amounts up to $100,000. Bids increase at $2,500 on amounts up to $250,000. Bids increase at $5,000 on amounts up to $500,000.
* What happens if I lose my Internet connection while I'm bidding for an Online Only property?
Once you click the Place My Bid button the electronic proxy will automatically increase your bid at predetermined increments to maintain the high bid. You can refresh/reconnect your computer and return to the bid page to see if you are the high bidder.
* Can I cancel my bid?
No. By bidding you are representing to Williams & Williams and the seller that you have read and agree to be bound by the terms and conditions for this sale. If you do not agree with any of the terms and conditions DO NOT BID as you will be bound by those terms and conditions.
* Can I have another person place a bid for me?
For security reasons, your legal representative and/or your agent are the only persons allowed to place bids on your behalf. If a representative is bidding on your behalf s/he must have an original Power of Attorney (POA) or Attorney in Fact in place at the time of the auction. The Power of Attorney (POA) must be returned with the contract.
* How did someone place a bid outside of the next bid increment?
This will happen when someone places a proxy bid. You can place a proxy bid of any amount greater than the next bid increment.
Example – someone else has the current high bid price of $15,000. You place a proxy bid of $16,123. The bidding system will automatically put you in at $15,500 (next bid increment). A competing bidder later comes along and places a bid of $16,000 (next bid increment). Once this happens, the system will automatically put you in at your proxy/max bid of $16,123. Even though the proxy bid ($16,123) is not a full increment ($500) higher than the previous bid ($16,000), the proxy bid was placed before the competing bid was placed and thus will be honored.
* How do I know if my bid was accepted by the auctioneer?
We recommend you start bidding as soon as the auction begins. The bid page will show the high bidder with each new bid. Refresh your bid page often to see the latest bids and remaining time.
* Why did I not win the item although it sold for my maximum bid?
This will happen if another bidder places the same bid but earlier in the auction. Additionally, the sale will be controlled by the auctioneer. The auctioneer reserves the right to regulate bidding and accept or reject any or all bids. Any and all decisions of the auctioneer regarding the order and conduct of the auction shall be the final and absolute without liability to any party.
* What happens if I am the high bidder for an Online Auction?
Within 48 hours (two business days) immediately following the close of the auction, a representative from the Buyer/Agent Relations Group will contact the winning bidder (buyer) by electronic mail, telephone or facsimile to provide documents for execution. All purchase documents will be provided to the buyer and buyer will be required to sign and return all purchase documents to auctioneer via overnight delivery. Buyer shall have two (2) business days following the receipt of contract to return all completed documents or shall be subject to paying a liquidated damages amount equal to the down payment.
http://www.williamsauction.com
You must first create a profile and receive your user name and password. It is FREE and only takes a few minutes. Next find the property you wish to bid on and click the "Bid Now" button. Complete the simple registration and accept the terms of the sale. You will receive a bidding approval within 24 hours.
* Why do I need to register with a credit card if registration is free?
A credit card is required to register for bidding to ensure you are of legal age to purchase real estate and confirm identity. No charges will be billed to your credit card although some banks will hold the $1 credit in a pending account for up to 30 days. Please see your bank for details. The name on your credit card must match the profile information you provided during registration. An email will be sent to you to confirm you are approved to bid or if additional information is required. Debit cards are not recommended. The verification process debits your account $1 per registration for deposit, but immediately reverses/voids the transaction. Most banks withhold these funds for up to 30 days before returning the funds your account. Williams & Williams does not hold these funds and can not be responsible for your bank's security policies. Please see your bank for details.
* Is my information safe?
Yes. All personal information is strictly confidential, and will not be disclosed to any third party without your consent. It is kept secure and in confidence per our privacy policy.
* Will my registration for an auction automatically put me on an email list?
You must check the box to receive auction alerts from Williams & Williams. You can check any of the following options for how you would like to receive auction alerts: email, postcard or text. Upon completion of your profile information, you will receive a confirmation email with your user name and password.
* Can I view an Online Auction without registering?
Yes. Simply click on the "View this Auction" button on the property details page and it will take you directly to the bidding screen. From this page, you can both view the property and current bids as well as register to place your own bid.
* Is there a charge for using the Online Only Auction service?
There is no charge to register for an auction.
Each high bidder (buyer) must make a 5% non-refundable deposit per property (minimum $2,500) at the conclusion of the auction. Electronic wire funds, credit card, check by phone and cashier’s checks are the only forms of payment accepted. Once the seller approves the sale, the deposit will be credited to the contract.
The balance of the purchase price and all closing costs are due within 30 days. Closing costs generally total about $1,500 and include title exam, title policy, closing fee, filing costs and any other fees noted.
If indicated, a Buyer’s Premium of 5% ($1,500 minimum) shall be added to the high bid to total the purchase price. In the event a Buyer’s Premium is not charged on this property, an Auction Services fee of $1,500 shall apply.
Deposits will not be forwarded to any title company, or other party, for closing until Williams & Williams' bank has received cleared funds for the deposit.
NOTICE: If you are bidding on an On-Location or Studio Auction, deposits and service fees may be different.
* How many auctions can I bid on at one time?
There is no limit to the number of auctions that can be bid on at the same time, although you must register and be approved for each auction individually. Once registered you will continue to use the same user name and password for all auctions for which you have successfully registered.
* Can I (still) register for online bidding on the day the auction closes?
Yes. We do recommend you register at least three days prior to the sale. Please refer to the terms and conditions of each auction for specific details of that auction.
* Must I register for each Online Only Auction if I want to bid?
Yes. Each auction will have its own set of terms and conditions that you will need to read, understand and accept prior to bidding. Once registered you will continue to use the same user name and password for all auctions for which you have successfully registered.
* How do I bid online for a Studio Auction?
Once you have been approved to bid in the auction, a Java Applet will automatically be installed on to your computer. You can then click on the Bid Now Button to go to the bidder screen. When the lot number (#) you are interested in starts you can click on the Bid Button in the middle of the screen. It will show you the amount you are bidding when you click on the button. When you are the high bidder it will say you are the "high bidder" and it will not let you bid against yourself. The bar above the bid button will let you know when the bidding is about to end and when the property has sold. If you are the high bidder you will be contacted to start the closing process following the end of the auction, but less than 24 hours.
* I will not be able to attend the Studio Auction in person or online. Can I still place a bid on a property?
Yes, you can place an absentee bid. You must first register as an approved online bidder. Log in and select the property in which you are interested. Place your bid in the MAXIMUM absentee/proxy box, click the "Bid" button and confirm your bid by hitting the "Submit" button. You will receive an e-mail confirming your absentee bid. When the auction starts, the system will automatically raise your bid by the current increment and only if you have been outbid by another bidder. It will not allow you to bid against yourself and will not exceed your maximum bid. You will be contacted within 24 hours of the auction if you are the high bidder.
* I have registered, now what? How will I get access to the bidding page?
You will receive a confirmation email shortly after you register and an email reminder one day prior to the sale. These will give you a link, which will take you directly to the auction. You may also click on the "Bid Now" button on the property page the day of the auction.
* How do I bid in the Online Only Auction?
You have the choice of entering the minimum next bid or a proxy (maximum) bid into the “Your Bid” box. You can submit the bid by clicking on “Place My Bid.” The minimum next bid can be calculated by adding the predetermined bid increment to the current bid. A “proxy bid” is the maximum amount you are willing to pay for the property and should at least equal the minimum next bid amount. You may enter a proxy bid of any dollar amount (example $25,501). After placing a proxy bid we will automatically increase your bid to the next bid increment to ensure that you remain the high bidder. The system will only increase your bid if you have been outbid by another bidder, and will stop when you have reached your maximum (proxy) bid amount or have been recognized as the winning bidder at the end of the auction.
* What is an overtime period for the end time of the Online Only Auction?
If a bid is placed within two (2) minutes of the close of bidding, then another two (2) minute period commences from the time of the last bid until no bids are placed within the next two (2) minutes. The last bid shall be made final.
* What are the bid increments for an Online Only Auction?
The bid increments for Online Only Auctions are set as follows: Bids increase at $500 on amounts up to $15,000. Bids increase at $1,000 on amounts up to $30,000. Bids increase at $1,500 on amounts up to $50,000. Bids increase at $2,000 on amounts up to $100,000. Bids increase at $2,500 on amounts up to $250,000. Bids increase at $5,000 on amounts up to $500,000.
* What happens if I lose my Internet connection while I'm bidding for an Online Only property?
Once you click the Place My Bid button the electronic proxy will automatically increase your bid at predetermined increments to maintain the high bid. You can refresh/reconnect your computer and return to the bid page to see if you are the high bidder.
* Can I cancel my bid?
No. By bidding you are representing to Williams & Williams and the seller that you have read and agree to be bound by the terms and conditions for this sale. If you do not agree with any of the terms and conditions DO NOT BID as you will be bound by those terms and conditions.
* Can I have another person place a bid for me?
For security reasons, your legal representative and/or your agent are the only persons allowed to place bids on your behalf. If a representative is bidding on your behalf s/he must have an original Power of Attorney (POA) or Attorney in Fact in place at the time of the auction. The Power of Attorney (POA) must be returned with the contract.
* How did someone place a bid outside of the next bid increment?
This will happen when someone places a proxy bid. You can place a proxy bid of any amount greater than the next bid increment.
Example – someone else has the current high bid price of $15,000. You place a proxy bid of $16,123. The bidding system will automatically put you in at $15,500 (next bid increment). A competing bidder later comes along and places a bid of $16,000 (next bid increment). Once this happens, the system will automatically put you in at your proxy/max bid of $16,123. Even though the proxy bid ($16,123) is not a full increment ($500) higher than the previous bid ($16,000), the proxy bid was placed before the competing bid was placed and thus will be honored.
* How do I know if my bid was accepted by the auctioneer?
We recommend you start bidding as soon as the auction begins. The bid page will show the high bidder with each new bid. Refresh your bid page often to see the latest bids and remaining time.
* Why did I not win the item although it sold for my maximum bid?
This will happen if another bidder places the same bid but earlier in the auction. Additionally, the sale will be controlled by the auctioneer. The auctioneer reserves the right to regulate bidding and accept or reject any or all bids. Any and all decisions of the auctioneer regarding the order and conduct of the auction shall be the final and absolute without liability to any party.
* What happens if I am the high bidder for an Online Auction?
Within 48 hours (two business days) immediately following the close of the auction, a representative from the Buyer/Agent Relations Group will contact the winning bidder (buyer) by electronic mail, telephone or facsimile to provide documents for execution. All purchase documents will be provided to the buyer and buyer will be required to sign and return all purchase documents to auctioneer via overnight delivery. Buyer shall have two (2) business days following the receipt of contract to return all completed documents or shall be subject to paying a liquidated damages amount equal to the down payment.
http://www.williamsauction.com
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