Buy and sell property online
Register With Ease
The first step in purchasing your dream property is to contact the agent and provide them with your name, email address and mobile phone number. They will send a link via SMS and email.
Open the link and register online to bid for the property. You will need to fill in all fields, identify the entity that is to purchase the property (individual/couple or corporation) and identify the person who will be bidding. You can upload scanned copies of your ID (preferably a current Drivers Licence) or elect to provide ID directly to the agent offline.
Once the agent has authorised your participation at the auction, your dashboard is created and you can view any information uploaded by the agent. This could include sales contracts, information memorandums, photo galleries, floorplans and building reports. You will receive regular updates from SoldOnline by dashboard alerts and SMS.
Your First Bid
Sometimes, an agent might invite offers for the property prior to the auction commencing. We have a “pre-auction offer” platform which allows buyers to put forward offers and outline any conditions attached to that offer. This can give buyers the chance of securing the property without the risk of competition during the auction.
You will be notified by SMS and dashboard alert when the auction commences. The auction starts with a starting bid. The reserve will have been uploaded by the agent with the vendors authorisation. Minimum bidding increments will be set.
At this point, you can join the auction. You will be prompted to pick a bidders’ number and 4- digit PIN. The PIN is required each time you make a bid. The bidders number remains yours for the duration of the auction. Bidders numbers are displayed next to each bid made. You can now elect to accept the starting bid or make a more aggressive bid. If you have registered as a watcher, you can convert to a bidder at any time. However, you will have to complete the registration process.
SoldOnline auctions can run anywhere from 1 hour to 14 days. As bids are made, a bidding history is created and viewable by all bidders. We have a secure chat feature which allows individual bidders and agents to communicate. Agents can also send broadcasts to all participants.
During the auction, the agent has the right to make 1 bid for the property owner. This is a Vendor Bid and if made, will be clearly identified as that. Agents can also reduce the minimum increments during the auction. You will be notified if this happens. We also have a yield calculator for investment properties and a price converter for rural property. This converts the total price to a per hectare or per acre value.
The Final Call Period
In the final 3 minutes, if a bid is made, the auction clock will restart for a further 3 minutes. This gives bidders plenty of time to react and respond and prevents bidders from trying to snipe the finish. You will be notified by dashboard alert and SMS each time you are outbid. This is particularly helpful if you are bidding on your mobile device.
The Virtual Hammer Falls
If the property’s reserve price is reached, all bidders will be notified. After 3 minutes of no bidding activity, the clock will hit zero and the highest bidder will be the purchaser.
It Pays To Be Up The Top!
If, however, the reserve has not been reached when the clock counts down, the auction will be paused for up to 5 minutes while the agent discusses with the vendor. The owner might decide to accept the current bid and put the property “on the market”. If so, the auction will reopen and all bidders will have the chance to make further bids. It would be usual for the agent to drop the minimum increments at this point.
If the vendor is not prepared to accept the current bid, the auction process ends and the highest bidder has the reserve price revealed. If this is you, you’ve earned the exclusive right to negotiate with the vendor or their agent for 60 minutes. Your agent will work with you through this hour to achieve the best result. If an agreement is made, you will enter your 4-digit PIN and buy the property under auction conditions.
Seal The Deal
Whether you were the top bidder when the hammer fell, or managed to negotiate a great outcome below reserve, you will need to contact the vendor’s agent and arrange to meet to exchange contracts and pay the deposit. Bidders ARE NOT required to pay for the property, or any part of it, via our platform.
The agent may elect to utilise our electronic exchange and e-sign platform.
Current online auctions
The SoldOnline platform provides a simple way to begin your property search. Find commercial, rural and residential properties listed anywhere in the country.
Unlock the door to purchasing
Once you’ve found the perfect property, it’s time to register on the platform. All you’ll need to do is to get in touch with the agent who will guide you through our simple registration process.
Access property information on your terms
Once registered, you’ll be able to gain access to the reports and information to give you a more in depth understanding of the property you’ve set your sights on. This means less time spent dealing with agents chasing up documents.
All of your communication with agents is stored in one central platform so you don’t have to chase email trails, worry about missed phone calls or feel in the dark about whether your offer has been received.
Ready to offer
And, when you are ready to offer - you’ll know that the offer is held securely on our platform. The agent will be notified immediately and the vendor will also know that an offer has been placed. No more wondering about whether the vendor is aware of your intentions!
Negotiations and Exchange
SoldOnline is the ideal venue to engage in negotiations. Once you’ve placed an offer and listed your conditions all of your communications with the vendor’s agent are stored and tracked. Contracts exchanged on the platform are enforceable too.