"HOW TO"

Welcome

Our goal is to make your auction experience as seamless and easy as possible! We hope the following information will help educate, and guide you through the process. If you need assistance with registration, logging in, transaction account questions, placing a bid, financing, need to sell a home first, or our unique to the industry credit line financing or anything else please do not hesitate to call or text us at (317) 750-6557 or email us at info@landprorealyandauctions.com. We are more than happy to help!

How to Register

Select the Login/Register option under the Auctions drop down tab, at the top and bottom of the homepage or from the property being auctioned. This will take you to a registration page where you will provide your contact information details and create a username and password. Once your account is approved, you will be able bid on the property or properties of your choice. Registration does not obligate you to bid but allows you to bid if you chose to.

Why Pre-register 

Registering also enables us to keep you informed with updates, financing options, answer your questions, and notify you about upcoming auctions and new property listings that may be of interest. NEED TO THINK OF AN INCINTIVE TO GET BUYERS TO PREREGISTER AND ADD THE LANGUAGE HERE

Login

After creating your account, you will need to log into the auction property of your choice and accept the auction’s terms and conditions. Please note: you will be required to agree to terms and conditions during account setup, as well as separate terms and conditions each time you register for an individual auction. Each individual auction has the Terms of Service, details of the property, and any specific instructions about the parcel or parcels being auctioned.

How to Bid 

When logged in to the auction of your choice, simply click the Bid Tab on the auction listing you’re interested in and enter the amount you wish to bid.  

Verify Your Bid

As a safety feature before your bid is finalized, you will be prompted and have the opportunity to verify your bid.

Submitting Your Bid

When you submit a bid you are entering a legally binding contract. Once a bid is placed it cannot be retracted. Do not bid unless you intend to purchase this property at the amount of your bid.” This is the prompt from the window that appears when you click on Bid Now. There will also be text box where you can enter in your bid amount. You can enter in a max bid (also know as a Proxy Bid) here as well, and the window has a blue (?) that explains what a max bid is. Once you have verified the amount you wish to bid, click Confirm Bid.

Keep Track of Your Bids

You will receive an email notification if you make a successful bid or if you have been outbid (if elected, you can also receive a text notification). Notifications can be configured from your Account Settings under the Preferences tab.

Parcel Selection: You may combine any or all parcels based on your needs and budget. Some bidders may only want a single parcel, some may want groups of 2 or 3 or more parcels, and some may want the whole property,

Understanding the Process: Remember that any bid posted is considered active and could be back in the winning position any time during the auction  If no advance bid is made within a specified timeframe, the lots will be announced closed. 

Timing Your Bids: Don’t wait to bid at the end as any bid posted remains active and could return to the winning position at any time during the auction. If you only want a single tract, bid when it’s available; if you want multiple tracts, bid when combinations are permitted.

Auction Methods  

How the property being auction is offered will be disclosed in the individual auction site for that property. We will disclose whether bids are being taken by the acre or per parcel. In most cases the property will be offered by the acre and will be offered where you can bid on a Whole Parcel, Individual Parcels or Combinations referred to as Multi-Par. If the property is being offered in Ultimate First Choice it will be in the individual auction notes. 

Auction Terminology
  • Open House: This is the date or dates when bidders can meet the auction company representatives and or owner at the site to see the property and answer any questions.
  • Simulcast: This can be used for online interaction with the auction company representatives and or owner prior to the auction on certain dates for information and Q&A. Also can be used during the last couple hours of the auction whether online only or if it is a “Live” an “Online Auction or both.
  • Absolute Auction: This is when there is no reserve price. The property is sold regardless of the price of the highest bid. If it is and “Absolute Auction” it will be noted in each individual auctions conditions.
  • Reserve: This is the lowest price the seller is willing to sell for. If the “Reserve” price is not met at the auction, the item will not be sold. If there is a “Reserve” it will be noted in the individual auction conditions.
  • Buyer’s Premium: Not all auctions have a “Buyer’s Premium” percentage. This is an additional charge sometimes added to cover administrative expenses and or commissions. If there is a “Buyers Premium” it will be noted int the individual auctions conditions.
  • Bid Increment: The minimum dollar amount that the current bid increases in price after each new bid is placed.
  • Extended/Dynamic Bidding: Auctions may extend the bidding time on any lot that gets a bid within a certain amount of time of its scheduled closing time. The auction will remain open for those lots until no bids are placed in the allotted amount of time. All lots not receiving a bid in the final minutes will close at the normal time. The auctioneer will determine the number of minutes necessary to activate dynamic bidding ahead of time.
  • Internet Only Auction: A timed auction where bids can only be placed online over the Internet through our auction software system. No live bidding is taking place at a physical location. 
  • Live Auction: An auction that takes place at a designated place and time, where bidders can browse the auction lots and place their bids in person. 
  • Lot: A group of items or a single item that are sold together at auction. Lots are determined before the auction and only the auctioneer can divide a lot. Each lot in an auction is numbered. 
  • Maximum Bid: Also known as a Proxy Bid. The maximum amount you are willing to pay for a lot. The price will only increase by the minimum increment, but will automatically raise to your maximum bid as others bid up the lot over time.
  • Staggered Closing: Auctions that begin to close and progress at a certain rate of lots instead of at one specific time. For example, an auction will close five lots every five minutes beginning at a certain time. This will be listed in the terms of the auction. 
  • Ultimate Choice: This auction option allows the winning bidder of each round first choice at any parcel or combination of parcels.If the Ultimate Choice Bidding Platform is being utilized there is no maximum bidding (Proxy Bid) feature. Once you have clicked on the lot or combination of lots and click get price you then have two options. You can simply click submit bid to enter the bid at the amount displayed or you can enter a higher bid in the space provided. Your bid will be implemented at this amount. This is not max bidding, so the bid will be placed at the exact amount you enter.
  • Multi-par: This is a unique state of the art web-based software bidding system that allows buyers to bid on combinations of your choice. This allows bidders the option to bid on an individual parcel, a combination of parcels, or the property as a whole.
Bidding Questions 
  • Can I bid on more than one parcel – YES 
  • Can I bid on more than one combination – YES 
Auction Questions
How to Sign Purchase Agreement
  • If you are a winning bidder you will be emailed a purchase agreement to be signed electronically and returned within 24 hrs. 
How to Pay Earnest Money
  • If you are the wining bidder you will be notified by email and instructions on various ways to submit your earnest money. Either by Credit card, ACHA, Pay Pal 
Process to Close
  • Once the survey and title work are complete you will be contacted to coordinate scheduling the closing.   
Realtor Representation  
  • Register his or her client by filling out the Broker Registration form in full, including the signature of the client on the form, and delivering it to Land Pro Auctions LLC.  
  • Submit the Broker/Agent Registration Form to Land Pro Auctions LLC so that it is actually received by Land Pro Auctions LLC at least twenty-four (24) hours before the auction commences. Any Broker/Agent Registration Form received by Land Pro Auctions LLC after the deadline will not be honored.  The Broker/Agent Registration Form must be acknowledged by and formally accepted by Land Pro Auctions LLC in order to be eligible and for Broker/Agent to receive any commission.   
  • Abide by all of the terms and conditions set forth in the Broker/Agent Registration Form.
  • The Broker Registration Form can be downloaded and filled in electronically and returned.     |

Security 

If you need assistance with registration, logging in, transaction account questions or placing a bid, call/text us at (317) 750-6557 or email us at info@landprorealtyandauction.com we are happy to help!