How it Works.
Sale Ezy is a three step process, in accordance with auction regulations. Simply sign up and enter your details on the My Auctions application form, supply identification. and apply to bid. When approved submit your bid! Simple, reliable, global and secure
- Bid online from any where, or by phone or fax to your nominated agent.
- Your bid will be verified by email.
- You have control to bid to your acceptable limit
- You have the opportunity to revisit the property during the auction period
- Auction period may vary from 1 day or until sold
- No split second decisions
- All the Auctioneers operating these Auctions are accredited trusted
Professionals. - They are accountable and transparent under the Guidelines of the Relevant Auction Legislation
1. Getting Started
- When first visiting Sale Ezy choose to simply browse the site, or sign up to create a profile - cost and obligation free. My Auctions gives you access to your bookmarked properties, your recent bids and the option to update your personal details. Provide your property requirements to receive email alerts on new properties.
- Simply click on Sign Me Up and follow the steps to become a member. Your user id and password will be confirmed by email.
- Already a member? Login and start browsing!
- Being a member of My Auctions means when you are ready to bid, you simply update your details, 'apply to bid', read and accept the conditions of auction and receive your secure bidders number by email.
2. Security
- Your details are not available to other bidders, only to the agent who approves your bidder's application. In the locked Secure Administration Section.
- 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.
3. Searching properties and auctions
- Enter the location or price details and click submit to see a list of suitable current and future property auctions.
- Select a property of interest to view details, photographs, satellite overview, DVD or virtual tour and google maps to pin point the location.
- Click Bookmark under the property photograph to save the property in 'My Auctions'
- You can also view current and upcoming auctions on the Calendar page.
- My Auctions - groups the auctions you are interested in allowing you to view general bidding and quick easy access to the auction of your choice to place your bid
4. Bidding Online - Approved Bidder
- Inline with legislation, all bidders must be registered by the managing agent and approved identification sighted and recorded in the bidders record.
- To bid on your selected property, you must be registered and receive a secure bidders number. * Note - "My Auctions" or "Apply to bid" provide access to register as a bidder.
- If you are a member of Sale Ezy's "My Auctions" login, check your details are correct "apply to bid" read through the auction terms and conditions accept and submit.
- If you are not a member of "My Auctions" or have not registered to bid, simply fill in your details in "My Auctions" or "Apply to Bid" read through the auction terms and conditions, accept and submit!
- The managing agent of the auction will receive the application by email. If he has sighted or received a faxed copy of your proof of identity he will register your details in the bidders record and issue by return email a secure bidders number. You will be notified by email within 2 hours (during business hours). It is the agents' responsibility to approve your application. If you are not notified, contact the agent immediately to follow up.
* You will require approval from the managing agent to bid on each new auction.
5. Bidder's Number
- Your bidder's number is issued by the managing agent for each auction. It must not be given to or be used by any other party. You are responsible for the security of this number. It is recorded against your details in the bidders record.
6. Submitting a bid online
- When you are logged in as a bidder, simply click "Bid Now" type in your bid and submit. The bid increment will display the lowest acceptable bid. You may bid higher than the displayed amount.
- You will be informed your bid has been placed by email and it will appear on the bid screen.
- To monitor your bid progress we recommend you return to the bid screen regularly to monitor bidding.
7. Auto-bid
- If you cannot access the auction during the bid period, you may register an auto-bid.
- Enter your highest bid in the auto-bid section and submit.
- If your last bid is accepted as the final bid you will be notified as the successful purchaser. If the property has reached or exceeded the reserve price, it will be shown as "On the market"
- If the property is passed in you will be notified and given the opportunity to negotiate.
- Your auto-bid may be changed to manual bidding at any time.
8. Monitoring the Auction
- To ensure that all bidders are aware when the auction has reached or exceeded the reserve, on the market will display in Green.
- A vendors bid will display in orange as it appears on the bidders screen and will be shown as "Vendor Bid" in the register.
You may monitor a number of 'bookmarked' auctions on "My Auctions" and click back to the auction details screen to bid.
If registered to bid you will be notified by email & SMS before the auction is due to close. The auction will generally proceed to "Final Bids" by 10.00am the next day.
The minimum auction period will be 24 hours
9. Final Bids
At the conclusion of the first stage of the auction a timer is set to display a 10 minute countdown. This timer will restart upon each new bid to proceed to "Final Call" when no more bids are received.
10. Final Call
- Final call stage is activated when "bidding ceases with 00.00 and Final Call screen
- If a bid is submitted prior to the fall of the hammer, bidding goes back to first call with "First Call" timer restarting to countdown again through "Second Call" and "Third & Final Call" as the hammer raises to conclude the auction.
11. Successful Bid
- If reserve price has been reached or exceeded at the fall of the hammer the highest bidder is the purchaser, no more bids will be accepted. As soon as practicable after the fall of the hammer the purchaser and vendor are to sign the contract. Both purchaser and vendor are bound to the contract. The auctioneer may sign the contract on behalf of both the vendor and purchaser
12. Contract and Deposit
- All purchasers must pay the deposit by either
Cheque - supplied to the auctioneer
Electronic funds transfer or
Bank Guarantee Bond, by facsimile to the Auctioneer by 8pm on the day of the Auction. This is a condition of exchange.
13. Exchange of Contract
- Under the Conveyancing Act 1919 Section 66W there is no cooling of period if the property is sold by Public Auction or if the contract is made on the same day as the property was offered for sale by Public Auction but passed in.
- If you are the successful bidder, you are required to sign the front page of the contract and the special conditions on the day of the Auction. This must be sent by facsimile transmission or delivered in person to the Auctioneer prior to 8pm on the day of the Auction. The contracts will be exchanged by the Auctioneer and the purchaser will receive the signed front page of the vendor's contract and the vendor will receive the signed front page of the purchaser's contract. Upon exchange the contract will become binding. If the contracts are not received by 8pm of on the day of the auction, the auctioneer will sign the contract on behalf of the purchaser and exchange the contract
Frequently Asked Questions
How do I know my bidder's number is secure?
- You will receive an email upon approval of your registration giving you a secure bidder's number specific to this auction property. This must not be given to, or be used by any other party. You are responsible for the security of this number. Any bid lodged by this number will be deemed your bid. You will be liable under contract for this bid if successful at auction. If this bid number is stolen or lost please notify Sale-Ezy on 1300 880 587 or the auctioneer. Your bid number will be verified by email with each bid lodged. Enter your username and password to proceed to the bid screen
How do we receive the contract?
- Once you have become a registered bidder and request a contract, the contract is sent to you via email for consideration. If you wish to place a bid, you should print the contract and take it to your Solicitor or Licensed Conveyancer for advice. Although Sale-Ezy trusts 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 prior to bidding on a Sale-Ezy auction.
What is the cooling off period?
- There is NO COOLING OFF PERIOD: if the property is sold by public auction, or if the contract is made on the same day as the property was offered for sale by public auction but passed in. 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
How can we sign the contract?
- Under an auction there are two ways that a contract may be signed:
1. It may be signed by the vendors and purchasers themselves. The parties must sign the contract and fax the front cover to the auctioneer prior to 8pm on the day that the auction closes. If contracts are not signed by 8pm, the auctioneer will exercise his/her authority to sign the contract. The auctioneer is empowered to sign contracts on behalf of clients at all auctions. You may choose to authorise the auctioneer to sign your contract as a means of saving you some time.
2. It may be signed by the auctioneer. The auctioneer may sign the contract on behalf of the purchaser and vendor if either party is absent or unavailable to sign. The auctioneer acts as the vendor's agent to sign the contract and upon the property being knocked down to the highest bidder, the auctioneer id the purchaser's agent for this purpose. The auctioneers authority to sign on the purchasers and if necessary vendors behalf, arrives as soon as the auction is concluded and is an irrevocable authority Phillip V Butler (1945). This may also be a condition of auction.
How can we pay the deposit?
- All contracts for the sale of land require a deposit to be paid. This is usually 10% of the purchase 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 the managing agent or auctioneer prior to the date of closure to reduce stress on the day of the auction.
- All cash deposits, bank cheques or electronic transfers are required by law to be kept in the agents trust account. This trust account is regulated by the Office of Fair Trading and is secured by the Property Services Compensation Fund.
- If you do not pay your deposit on time, it may be considered as a breach of the contract. Vendors may seek to terminate a contract or take action for such a breach. Hence, it is important that purchasers prepare themselves carefully for the payment of the deposit.
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. This means it is absolutely vital that purchasers place themselves in a position to settle the sale. Diligent purchasers should consider that their finance is 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.
Are pest and building inspections conducted on properties?
- To facilitate confidence in the property being offered for sale the vendor should provide a pest and building report conducted by a qualified tradesperson. This will be provided as part of the Contract for Sale.
When can I view the property?
- Inspections may be made by appointment with the agent or a buyer's agent may be appointed to give a detailed analysis and description of the property.
- A detailed video or virtual tour and slide show of the property walks you around a virtual inspection showing you all aspects to assist your decision. A floor plan with virtual tour capabilities gives you ezy familiarity with the property. A satellite or aerial photo of each property will refresh your memory and highlight features you may miss in your inspection.
What are the bid increments?
- Bid increments are varied and controlled by the auctioneer. The size of increments will vary according to the bid price submitted and the stage of the auction. Bid increments may decrease as the auction moves to the final bids. The auctioneer may refuse to accept any bid that, in the auctioneer's opinion, is not in the best interests of the seller.
What is the base guide price?
- A base guide price is the lowest bid price the auction will start at to commence the auction process. This is not a reserve price or a vendor bid. This is set to facilitate a fair base point, less than the reserve price. No offer will be accepted by the auctioneer below this figure. This is a normal process at live auction. The auctioneer may refuse to accept any bid that, in the auctioneer's opinion, is not in the best interests of the seller.
What is a Vendor Bid?
- A "Vendor Bid" means a bid made by or on behalf of the seller. The bid will be displayed in orange to signify a vendor bid and "vendor bid" will display in the bid register.
What is a reserve price?
- The reserve price is the agreed minimum sale price acceptable by the vendor. The auction is subject to a reserve price. When the bid price reaches reserve it will display green and "on the market" will display on screen, an email and SMS will be sent to all bidders to notify them of reserve price being reached. 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.
What is auction protocol?
- All Bids will be displayed on the Auction Display Screen. 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 leaves the auctioneer with no choice but to sign on the successful bidders behalf. Failure to settle the property can also result in a bidder being sued for the deposit and other losses of the vendor.
What is the auction period?
- The Auction period may vary from 1 day or until sold. Offers may commence from the day your property is listed allowing all the benefits of tender and auction combined. The auction will conclude at the discretion of the vendor and is controlled by the auctioneer. An email & SMS will be sent to all bidders, notifying them of the auction close time, with stage one timer inclusive of the final ten minutes, finishing at around 10.00am. *This time may be varied by the auctioneer. The final ten minutes will restart with each bid to finish with no more bids offered. Final call then commences to finalise the auction with the fall of the hammer.
