Can I inspect the property before bidding?
Yes, we actively encourage inspections prior to placing a bid.
Can I cancel my bid after it's been placed?
No. Once a bid is placed, it cannot be cancelled.
How can I deposit funds?
Navigate to your Federa Account, select "Payments" and then click on "Transfer".
If I'm financing and the lender's appraisal comes in lower than my bid, what happens?
Auction listings are sold as-is with no contingencies. We encourage all bidders to keep this in mind before submitting a bid, because once they submit a bid they cannot cancel.
Who selects the title company?
The buyer is responsible for selecting the title company and should disclose this information after the auction concludes.
How can we see how many bidders there are?
You can view the Auction in real time via our
Auctions page. Or in your Federa Account, go to the "Auctions" page.
Is there a reserve?
- If the auction has no reserve, it's indicated on the website.
- When there is a reserve, it isn't displayed on our site.
Why does a seller list as an Auction?
Sellers opt for auctions to ensure transparency, benefit from a short sale process, and foster a competitive environment. Additionally, buyers are more committed, as they must provide a non-refundable deposit if they win the auction.
Do I submit the bid or does my buyer submit it?
The buyer would need to place the bid.
How can I, as an agent or broker, ensure that I receive compensation for an auction my clients are bidding on?
To ensure you receive your due compensation for your client's winning bid, follow these steps:
Click here to either Sign In or Sign Up.
Click "New Transaction" > select "Buying" > Select "Still Searching"
In the Add People section, add both yourself and your client to the transaction.