How it works > Pre-auction offer > Place a bid > Change my bid > Back-up bid
Register for a TheAssetGrowth.com account.
By registering to bid, the buyer acknowledges that they have downloaded, read, reviewed, and understood the information in the Terms and Conditions and consent to entering into electronic transactions over the internet. When you make a bid, you are acknowledging that you have read, reviewed, and understood all of the information contained in the bid packet for that particular property. The bidder also acknowledges that immediately following the close of the auction, they are prepared to execute the Contract of Sale agreement and pay the appropriate deposit at that time in a form that has previously been deemed acceptable to the Auction Company.
Determine your bid.
Determine how much you are willing to pay for the property. Your evaluation of the property will be unique, and your willingness to pay will be based on your individual needs and desires.
Place your bid.
As the auction progresses, when you are ready to make a bid, enter the amount you wish to bid in the appropriate box and click the BID NOW button. You will not be allowed to bid against yourself. The online auction will be conducted under the total control of the auctioneer.
Ask for assistance.
If you have any questions or need assistance, click the 'Ask a Question' button to email your query to a TheAssetGrowth team member. They are available to help you understand the process thoroughly.
Relax and Enjoy the Auction
The most important thing during the auction is to relax and have fun. If you have any questions, feel free to ask. We are committed to ensuring that all our customers are fully informed and confident throughout the process.
And remember, you’re only going to pay one bid more than someone was willing to pay.
Is Pre-Qualification Necessary?
Pre-qualification is typically not required to participate in bidding. However, if you plan to finance your purchase through a bank loan, the bank will require you to be approved for financing.
Please note that the deposit made when submitting a bid is not dependent on securing financing. If you win the auction, the deposit is non-refundable if you fail to execute the Contract of Sale and proceed with closing. The Contract of Sale is fully detailed in the bid packet, and its terms cannot be changed or negotiated.
What is a Buyer’s Fee?
A buyer’s fee is an additional percentage added to your bid to determine the total purchase price. In our auctions, this fee is added to the successful bid amount. The buyer’s fee percentage will be outlined in the bidder’s packet, as it can vary depending on the property. Additionally, earnest money (beyond the deposit made when placing your bid) is non-refundable, unless otherwise stated in the Seller's Contract of Sale, and is due within 24 hours of being notified as the successful bidder. The remaining purchase price is due at closing.
What Should Brokers Know?
We offer a Broker Participation Fee to licensed Real Estate Brokers who properly register their clients. Registration must be completed at least 48 hours before the client places their first bid. To receive a Broker Participation Form, please contact us at 888-746-5132.
Before the auction begins, you have the option to submit a Pre-Auction Offer to purchase a property. This offer follows the standard procedures of a traditional property transaction.
To submit a pre-auction offer, you must be logged into your account, and your account should be approved for use as a buyer/bidder or broker/agent.
If the seller or broker/agent accepts your offer, the property will be withdrawn from the upcoming auction event.
You can place a bid to purchase an auction property before the auction begins by submitting a Pre-Auction Offer. This process follows the same procedures as a traditional property sale.
To place a pre-auction offer, ensure you are logged into your user account. Your account must be activated as a buyer/bidder or broker/agent.
If your offer is accepted by the seller or broker/agent, the property will be removed from the scheduled auction event.
You cannot place a bid against your own offer, meaning you cannot raise your bid amount if you are the current highest bidder on a property. However, if you made an error when entering your bid, please reach out to a TheAssetGrowth representative immediately to correct your bid.
If an auction ends and the sale to the highest bidder does not go through, you can place a backup bid on the property. Backup bids are accepted within 48 hours following the close of the auction.
To submit a backup bid, you must be logged into your user account, and your account must be set up as a buyer/bidder or broker/agent.