What is pre-auction bidding?
- Pre-auction bidding is a designated time that the Seller will review sealed-bids submitted through our website prior to the online auction dates. During the pre-auction/pre-sale period, bids are reviewed and may be accepted by the Seller. If a bid is accepted by the Seller, the property will be removed from the online auction. All bids are sealed and confidential.
Why do you have properties on your website that say “Coming Soon”?
- The Seller(s) have asked ServiceLink Auction, powered by Hudson & Marshall, to market these properties while awaiting final approval to schedule for an online auction.
Can I ask how many bids have been submitted on a property and what the highest bid is?
- No. All bids are sealed and therefore confidential. When placing a bid, submit your highest-and-best bid.
Can you tell me the Seller’s reserve?
- No, the Seller's reserve is not published or disclosed.
How do I know what to bid?
- Before submitting an bid, please conduct your due diligence to determine how much to bid. If you need assistance, real estate agents are great resources to obtain additional information and answer any questions.
I’ve submitted my bid, what is the next step?
- If you are the high bidder and your bid has met the Seller's threshold for review, you will be contacted by a Bid Coordinator who will work as a liaison between you and the Seller to get your bid approved.
- If you are the high bidder and your bid did not meet the Seller's threshold for review, please note that the property is likely to be re-auctioned and you will be able to bid again.
I’ve submitted a pre-auction bid, when can I expect someone to contact me?
- Generally, you will be contacted within 24 hours.
What is a "Last Chance to Bid"?
- Last Chance to Bid (also referred to as Post-Auction “Still Available” properties) are properties that did not sell during the pre-auction or online auction sale dates. The Seller may give additional time for bids to be submitted.
I placed a bid in the online auction for a specific property and noticed a pop-up that stated “Bid Placed by Seller’. What does that mean?
- Sellers reserve the right to bid on their properties up to the reserve amount, as long as it is fully disclosed at the time the bid is placed. When a buyer registers to bid on a property on the ServiceLink Auction, powered by Hudson & Marshall, website, they must check a box that says “I agree” to the terms and conditions of the sale. In the terms and conditions for the sale of the property in question, the following verbiage is included:
“If a property is being sold at auction with a reserve price, Bidder understands that the reserve price must be met in order for the property to be sold. The seller of the property may instruct the Auctioneer to place bids on any property up to the amount of the reserve price. If Bidder is the high bidder but the reserve price is not met, the property has not been sold to the bidder.”.
- Additionally, during the auction, if a bid is placed by the seller, the words “Bid Placed by Seller” appear in red text next to the bid, so anyone actively bidding or watching the bids on a specific property will know if the seller is bidding.