• Amsterdam, 22/01/'17 21:22:46 CET
Real Estate

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Sales methods

Please make sure that you know, before you start bidding, if it is an ONLINE TENDER SALE or a DUTCH AUCTION SALE to be able to understand the correct sales process of that particular auction you are bidding on.

Tender sale

The corresponding lot shows clearly ONLINE SALE BY TENDER . At a tender sale you place your best offer (immediately) and there is no bidding process. You can place more than one bid, provided that the subsequent bid is higher than the previous bid amount. The amounts offered by other bidders are not visible.

At the time of closing, you can no longer bid. Therefore there is no 5-minute rule like we have in Dutch auction. After the closure of the tender sale, we discuss the received bids with the seller.

We will inform you after a few days if the property on which you have placed a bid, will be allocated to you.

At the end of the process the transfer of ownership will take place.

Online Dutch auction sale

An ONLINE DUTCH AUCTION SALE, how does it work?.

During the first phase you can place an ascending bid. You will see on the webpage, the highest bid, and the number of bids.

After the closure the Dutch period starts, in the 2nd phase. There will be a countdown, from a certain amount, within a certain time, normally 15 minutes. In the event that you are the first person who presses the button “mine”, you are the highest bidder. In the event that nobody presses that button, then the highest bidder from the first or ascending phase is the highest bidder.

After the closure of the sale, we will discuss the sale results with the seller. Within a few days after the auction, we will inform the highest bidder if the particular property is allocated to him.

Finally, Finally, the transfer of ownership at the notary.

Main differences between the different sales methods

Tender sale Dutch auction sale
Bidding without ascending process Bidding with Dutch auction procedure
Invisible amounts on the website Invisible biddings on the website
No starting bids Starting bids
Time of closure is the final chance to bid 5 minute-rule while bidding in the last 5 minutes

 

Tips for buying

  1. Please read all project information carefully and pay attention to the specific sales conditions. In these conditions you will note the sales procedure, sales conditions and other important data regarding the sales process.
  2. Every location and every building is unique. Besides, the purchase of property might not be a daily activity for you. In any case, we advise you to look around on the location and to visit the property on the viewing day(s) when these are organized.
  3. After the sale is ended on the website, it will take a few days before you know if the property is allocated to you or not. After the allocation period you will be informed whether or not the property has been allocated to you.
  4. If a property is allocated to you - Congratulations! Within a few days you will (usually) need to pay a deposit to the notary that is connected to the on-line sales.
  5. Then, the notary will contact you to arrange the notarial transfer. Prior to the transfer, the entire amount needs to be placed on the account of the notary. Once the property is transferred to you, you bear the risk of it. Please make sure that the property is insured from the date of the notarial transfer!
  6. Finally: Our online sales are supervised by a notary.

 

Note: a bid is binding, irrevocable and unconditional. In the event that a lot is allocated to you, and later it appears that you cannot complete the purchase, you will be liable for cancellation costs.
Do you have questions? Call us or send an e-mail to info@troostwijkvastgoedverkoop.nl.

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