FAQS - FREQUENTLY ASKED QUESTIONS
SELLER
How do I list my property for sale or rent on your Sole Owner?
To list your property for sale or rent, simply create an account on our website, provide accurate details about your property, upload high-quality photos, and set a competitive asking price.
How long does it take for my property listing to go live?
Once you submit your property listing, our team will review it within 24-48 hours. Upon approval, your listing will be live on our website for potential buyers to view.
What is a timed auction for direct owners?
A timed auction for direct owners is an online auction format where property owners can sell their items or properties directly to potential buyers. It allows owners to set a specific time period for bidding, giving buyers the opportunity to place bids within that timeframe.
What is a live auction with a live stream for direct owners?
A live auction with a live stream for direct owners is an auction event where property owners can sell their items or properties directly to potential buyers in real-time. The auction is conducted in a physical location, while a live stream allows remote participants to view and bid on items online.
How much does it cost to list my property for sale in a live auction?
To list your property in a live auction, there are two associated costs. The listing fee is $750, which covers the inclusion of your property in the auction catalog and marketing materials.
Additionally, there is a fee of $400 for the live auction with livestream coverage, allowing remote participants to bid online and watch the auction in real time.
These fees contribute to the expenses involved in organizing and promoting the auction event.
How much does it cost to list my property for rent in a timed auction?
To list your property in a timed auction, there are two associated costs. The listing fee is $150, which covers the inclusion of your property in the auction catalog and marketing materials. Additionally, there is a fee of $200 for the timed auction coverage, which allows remote participants to bid within a specific time duration.
How much does it cost to list my property for sale in a live auction?
To list your property in a live auction, there are two associated costs. The listing fee is $750, which covers the inclusion of your property in the auction catalog and marketing materials. Additionally, there is a fee of $400 for the live auction with livestream coverage, allowing remote participants to bid online and watch the auction in real time. These fees contribute to the expenses involved in organizing and promoting the auction event.
Can I edit or update my property listing after it's published?
Yes, you can easily edit or update your property listing anytime through your account dashboard on our website. This allows you to make changes to the description, price, or any other relevant information.
Do I need to provide legal documents or paperwork to list my property?
While you don't need to provide legal documents to list your property, it is essential to have all the necessary paperwork and legal documentation ready when a potential buyer shows interest. This includes property ownership documents and any relevant permits or certificates.
Can I communicate directly with potential buyers and bidders through your website?
Yes, our website provides a secure messaging system that allows you to communicate directly with potential buyers. You can respond to inquiries, and schedule property visits.
Do you provide any assistance or resources to help me sell/rent my property?
Absolutely! We offer a range of resources to assist you in selling or renting your property. This includes tips for preparing your home for sale or rent, guidance on pricing strategies, and access to professional services such as photography or staging. Additionally, our support team is available to answer any questions you may have throughout the selling process.
How long should I set the auction duration for my item or property?
The auction duration depends on various factors, such as the property value and demand. Generally, timed auctions for direct owners range from a few days to a couple of weeks. It's recommended to choose a duration that allows sufficient time for potential buyers to discover and place bids on your item or property.
Can I set a reserve price for my property in a timed and live auction?
Yes, you can typically set a reserve price, which is the minimum price at which you are willing rent or sell your item or property. If the bidding does not reach or exceed the reserve price, the property may not be rented or sold. Ensure that you carefully consider your reserve price to ensure a successful transaction.
How do I handle payment and delivery of the property to the winning bidder?
Payment and delivery arrangements are typically negotiated between the direct owner and the winning bidder. It's crucial to clearly outline your preferred payment methods, delivery options, and any associated costs in your auction listing. Open communication with the winning bidder is essential for a smooth transaction.
What if I receive no bids or unsatisfactory bids during the timed auction?
If you receive no bids or unsatisfactory bids during the timed auction, you may choose to relist your item or property as the sole owner until you get the best result for your property. It's important to evaluate your listing strategy, including pricing, item description, and promotion, to attract more potential buyers.
BUYER
Do you take a commission for the buyer side?
Certainly Not! As a buyer, you can rest assured that we do not charge any commission or fees for our services. Our primary focus is to assist and support buyers throughout the property purchasing process without any financial burden on their end. Our goal is to help you find and secure the right property based on your preferences and requirements. Whether it's conducting property searches, providing guidance during negotiations, or offering valuable advice, our services are provided with your best interests in mind. You can rely on us to work diligently on your behalf without any commission or additional costs imposed on you as the buyer.
What are the advantages of buying a property without involving an agent?
Buying a property without involving an agent offers advantages such as saving on agent commissions, the potential for better price negotiation, more direct communication with the seller, flexibility in the buying process, and the ability to tailor the search to personal preferences. However, buyers should be well-informed about legal and financial aspects to ensure a smooth purchase.
Can I negotiate the price of a property at an auction?
In most cases, price negotiations are not possible at a property auction. In an auction setting, the bidding process determines the final price of the property. Bidders compete by offering higher bids until the highest bid is accepted by the seller. Once the auctioneer's hammer falls, indicating the property is sold, the price becomes legally binding.
How do I register for a property auction?
To register for a property auction as a buyer, simply reach out with us by registering yourself and completing the registration form. Provide your personal details and follow any instructions or requirements given.
Can I buy a property in Australia without residency?
In Australia, there are stringent regulations regarding foreign investment. If you are not a permanent resident currently residing in Australia, you will be required to obtain permission from the Foreign Investment Review Board (FIRB) before purchasing a house or land. This is an important legal requirement that must be fulfilled to ensure compliance with the country's foreign investment laws.
Can I participate in the auction even if I’m home?
Absolutely! With the Sole Owner platform, you have the flexibility to participate in the auction from the comfort of your home or any location. Through a live stream, you can virtually join the bidding process and actively participate in real time. This means that you don't have to physically be present at the auction venue to engage in the bidding. The Livestream enables you to view the auction proceedings, hear the auctioneer's announcements, and place your bids conveniently from wherever you are. This convenient and accessible feature allows you to engage in the auction and bid confidently while enjoying the convenience of participating remotely.