Frequently Asked Questions BidBuyLand.com
How does the bidding process work for land auctions?
Bidders must register for the auction and place their bids through the auction platform. The auction software will track the bids in real-time, and the highest bidder at the end of the auction will win the property.
What forms of payment are accepted for land auctions?
The auction company typically accepts major credit cards, wire transfers, and sometimes personal checks or cashier’s checks.
Is there a buyer’s premium for land auctions?
Yes, many land auction companies charge a buyer’s premium, which is a fee added to the winning bid amount. This fee helps cover the cost of the auction and goes to the auction company.
How do I know if I have won a land auction?
At the end of the auction, the auction software will determine the winning bid. The auction company will then send a confirmation email to the winning bidder and the bidding process will be complete.
Can I inspect the land before bidding?
Yes, the auction company will typically allow potential bidders to inspect the land before bidding. Information about the inspection process and schedule will be available on the auction website.
What is the return policy for land auctions?
The return policy will vary depending on the auction company and the specific property being auctioned. It’s important to review the terms and conditions before bidding to understand the return policy for each auction.
Are there any additional fees for purchasing land at auction?
In addition to the winning bid amount and the buyer’s premium, there may be other fees associated with purchasing land at auction, such as closing costs and title fees. It’s important to review the terms and conditions before bidding to understand all the fees associated with each auction.