Buying Real Estate

The Auction Ohio Way

Experience a better way to buy real estate that allows you to compete against all buyers under the same terms, in a transparent process where you can see all bids and compete to buy real estate at your price.

Step 1

Create Your Auction Ohio Account

Create a Watchlist

Manage Your Bids and Bid History

Manage Notifications Preferences

Manage Your Profile

Registration on the site is required to participate in a real estate auction. The first step is giving us general information about who you are, contact information, mailing address, etc. You will create and confirm your password. You will be required to enter a credit card as a part of the process. Your card will NOT be used to pay for a deposit or purchase of real estate. Once you have completed the registration process, you will receive a Text/Email with your bidder ID that you can use to Login to begin bidding.

Step 2

Before You Bid

Once you find a real estate auction you want to bid on.

1. Log In

Click the Login/Register button on the top right corner of your phone or computer.

2. Request Permission to Bid on Real Estate.

Navigate to the Real Estate Auction you would like to bid on, then click Quick Bid or Set Max Bid.

3. Read & Acknowledge Terms and Conditions

Terms, conditions, registration requirements will vary for all auctions. Please read thoroughly. By signing your name, you are electronically signing and agreeing to the terms and conditions for the auction.

4. Upload Required Documents (if applicable)

Some auctions may require you to upload additional documentation to be approved. Documents may include, but are not limited to, Proof of Funds, Loan Approval, Hold Harmless Agreements, etc.

5. Approval to Bid

If automatic approval is in place, you will be notified on screen that you are approved to bid. When documents or a manual approval is required, the auctioneer will review your registration and/or applicable documentation. Once you are approved, you will receive a message granting you permission to bid. It is in your best interest that we vet all bidders so that you are not competing against unqualified bidders.

Step 3

How You Bid

SUBMIT AN QUICK BID

Clicking the “Quick Bid” button allows you to bid the next required bid amount with ease and without risk of a bidding error.

If you desire to place the quick bid, simply click on the “Quick Bid” button. There will be a pop-up window asking you to confirm you’re bid amount. Once your bid is confirmed, the bid will be placed and an affirmation window will appear, informing you of the new status of the real estate. The bidder ID of the current winning bidder will instantly appear beneath Current Bid. You can click on the number of bids placed on a property to view Bid History. All of your personal bidding history can be found in My Bids section of your bidder dashboard.

SUBMIT AN EXACT BID

This option will allow you to place an exact bid which would be higher than the next required bid. Clicking the “Set Max Bid” button will provide a text box for you to type in your desired bid, please submit and confirm.

Once you type in your desired bid amount, click on the “Confirm Bid” button. To ensure you haven’t made a mistake or typo, a window will pop up asking you to confirm your bid. Once your bid is confirmed, the bid will be placed and an affirmation window will appear, informing you of the new status of the real estate. The bidder ID of the current winning bidder will instantly appear beneath Current Bid. You can click on the number of bids placed on a property to view Bid History. All of your personal bidding history can be found in My Bids section of your bidder dashboard.

SUBMIT A MAX BID

This option will allow you to set the maximum price that you are willing to spend on a property. The system will then bid on your behalf up to the amount of your max bid. Max bids are not disclosed, and the system will only bid for you if another bidder places a bid. To place a Max Bid click on the “Set Max Bid” button and use the Set Max field.

You can also increase your max bid amount without affecting the current price of the property. Once you type in your desired bid amount, click on the “Confirm Bid” link. To ensure you haven’t made a mistake or typo, a window will pop up asking you to confirm your bid. Once your bid is confirmed, the bid will be placed and an affirmation window will appear, informing you of the new status of your bid.

4. Congratulations, You Won. Now What?

You will be contacted to gather any additional information required to complete the Real Estate Purchase Contract. The Real Estate Purchase Contract and applicable documents will require your signature. (In most cases, signatures will be electronic). The Real Estate Purchase Contract will be the same as the sample provided prior to placing your bid. The auctioneer will insert the purchase price (bid amount plus the buyer’s premium, if any) and your information as the purchaser on the contract. In most cases a deposit will be required and collected by the auctioneer (in most cases, collected via ACH). The closing will be scheduled pursuant to the terms of the purchase contract.

CONSUMER GUIDE TO AGENCY

The Consumer Guide to Agency is provided to you, prior to bidding, as a disclosure of how the listing Real Estate Broker conducts business and can act as an agent in the State of Ohio.

AGENCY DISCLOSURE

The Agency Disclosure is provided to you as a disclosure of who the listing Auctioneer/ Broker-Agent and selling Broker-Agent (if any) is representing in this transaction.

LEAD DISCLOSURE

This form is provided to you, prior to bidding, and required on 1-4 family residential real estate dwellings built prior to 1978

DEPOSIT

Paying the deposit will be pursuant to the terms of the auction. In some cases ACH ONLINE payments are accepted in which case you will be sent a link to make the payment. There are some that might require a certified / bank check. Please look at the requirements listed on the auction.

RESIDENTIAL PROPERTY DISCLOSURE FORM

This form is provided to you, prior to bidding, and required on 1-4 family residential dwellings. There are some exemptions (estate, trustee, etc.) in which the seller is not required to complete the Residential Property Disclosure. In such cases you are provided, prior to bidding, an exemption form stating the reason for exemption.

PROCEED TO CLOSING

The listing Auctioneer/Realtor will deliver the fully executed contract to the title company who will coordinate next steps to close. These next steps may vary from region to region in Ohio based on the acceptable business practices for the area.