English
Ελληνικα 1. In the “Auction Terms” of the property which can be found in the property’s page (Home Page > Properties > {query and selection of the specific property} > Property Information), the following auction features will be defined:
i. Auction type. The usual auction type is the Standard Type Auction in which every biding is bigger from the previous one; the bidding continues until the end of the bidding process.
ii. Bidding start.
iii. Bidding end.
iv. Starting bid.
v. Minimum bid increment: the minimum bid increase from the immediate previous one.
2. A User or a Realtor, who has received an e-mail by the portal administrator approving his participation in the auction, can bid with the following steps:
i. Logs in the portal as member (Home Page > Login).
ii. In the Home Page he/she clicks “Bid in an Open Auction”. Alternatively he/she can click “Bid Now” in the property’s page (Home Page > Properties > {query and selection of the specific property} > Property Information).
iii. Following the above selection a new page opens where he/she is asked to enter the auctions passwords. Following the entry of the auctions passwords another page opens where from by following the instructions he/she is directed to a page with a list of the auctions, or the auction, for which he/she has been approved to participate.
iv. He/she selects the auction for which he wishes to bid and the bidding page opens.
v. The last bid is shown in the biddings page.
3. The “Auction Terms” of the property will specify whether there is an Auto-Extend Anti-Sniping option. In the case of bids in the last minutes before the end of the bidding, there is an option for an automatic small increase of the closing time of the auction in order to avoid the event of a User or a Realtor winning the auction by bidding with the minimum bid increment in the last minutes. The “Auction Terms” of the property will specify the time extension that will take place automatically according to a predefined number of bids in a predefined time period before the end of the bidding.
4. The “Auction Terms” of the property will specify whether there is an option for Proxy Bidding. This option allows Users or Realtors to set a maximum value which are willing to bid in an auction. When a User or Realtor activates this option, the system automatically and continuously bids with minimum bid increments as long as the bid is lower from the defined maximum set value. The maximum set value in not visible by the other participants in the auction.
5. One or two days before the auction the approved participants will be trained in a dry-run auction, answering all their questions.
6. The “Auction Terms” of the property will specify the way by which the winner is nominated. The usual winner is the participant who offered the higher price (the higher bidder).
7. After the end of the auction an e-mail will be send to all participants with the bidders ranking the first one being the higher bidder.
8. The “Auction Terms” of the property will specify whether there is the option for submitting a notice of objection and the relevant procedure.