What is pre-auction bidding?
Pre-auction bidding is a designated time that the Seller will review sealed bids submitted through our website prior to the online auction dates. During the pre-auction/pre-sale period, bids are reviewed and may be accepted by the Seller. If the Seller accepts a bid, the property will be removed from the online auction. All bids are sealed and confidential.
Why do you have properties on your website that say “Coming Soon”?
The Seller(s) have asked ServiceLink Auction to market these properties while awaiting final approval to schedule for an online auction.
Can I see how many bids have been submitted on a property and what the highest bid is?
All bids are sealed and therefore confidential. When you place a bid, submit your highest-and-best bid.
Can you tell me the Seller’s reserve?
No, the Seller's reserve is not published or disclosed.
How do I know what to bid?
Before you submit a bid, conduct your due diligence to determine the amount you should bid. If you need assistance, real estate agents are great resources for obtaining additional information and answering any questions.
I’ve submitted my bid. What is the next step?
If you are the high bidder and your bid has met the Seller's threshold for review, a Bid Coordinator will contact you and work as a liaison between you and the Seller to get your bid approved.
If you are the high bidder and your bid did not meet the Seller's threshold for review, please keep in mind that the property is likely to be re-auctioned, and you will be able to bid again.
I’ve submitted a pre-auction bid. When can I expect someone to contact me?
Generally, you will be contacted within 24 hours.
What is a "Last Chance to Bid"?
Last Chance to Bid (also referred to as Post-Auction “Still Available” properties) are properties that did not sell during the pre-auction or online auction sale dates. The Seller may give additional time for bids to be submitted.
I placed a bid in the online auction for a specific property and noticed a pop-up that stated "Placed on behalf of Seller." What does that mean?
Sellers reserve the right to bid on their properties up to the reserve amount, as long as it is fully disclosed at the time the bid is placed. When a buyer registers to bid on a property on the ServiceLink Auction website, they must check a box that says “I agree” to the terms and conditions of the sale. In the terms and conditions for the sale of the property in question, the following verbiage is included:
“If a property is being sold at auction with a reserve price, Bidder understands that the reserve price must be met in order for the property to be sold. The seller of the property may instruct the Auctioneer to place bids on any property up to the amount of the reserve price. If Bidder is the high bidder but the reserve price is not met, the property has not been sold to the bidder.”.
Additionally, during the auction, if a bid is placed on behalf of the Seller, the words “Placed on behalf of Seller” appear next to the bid, so anyone actively bidding or watching the bids on a specific property will know if the seller is bidding.