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Frequently Asked Questions

What is the Opening Bid Call?

Where you want your auction to commence bidding at.

Do I get to choose the Opening Bid call?

Yes. You decide where you want your online auction to start from a choice of six (6)

After I list, can I change the reserve on the property?

Yes. At any time, although you can only lower it. Do this to either attract bids, or enable acceptance of any bid placed.

Can I withdraw the property before any bids are placed?

Yes. You can withdraw the property if the auction has not commenced or no bids have been placed.

Can I withdraw the property after a bid is placed on it?

No.

Are vendor bids permitted?

Yes. One (1) vendor bid is permitted, and if made, is clearly labelled and indicated to the public.

Once the reserve is met, does the property just sell for that amount?

The property will sell for the last highest bid above the reserve.

How does exchange of contracts occur?

We sign the contract of sale on behalf of the vendor and purchaser with online auctions. The purchaser is then legally obliged to pay the required deposit within 48 hours.

What if the successful bidder changes their mind and/or does not want to exchange?

Exchangehouse will sign the contract on their behalf and execute exchange.

How long could an auction actually go for?

As long as bids are being made, the auction will run. It ends when the countdown timer hits zero.

I have forgotten my login password or account is locked out after three attempts?

Simply click on the forgot password link, enter your email address and enter your mother's maiden name entered when you Joined Us. You will receive an email with a temporary password which you use to login. After logging in you will be asked to change your password.