Guide for buyers
Buying at Domus Optima Real Estate Auctions is a fantastic way to secure your next BEST HOME you are after. Find what you love and bid online at your convenience from the comfort of your home or on the move.
We are committed to make your next BEST HOME buying experience at Domus Optima Real Estate Auctions easy and transparent. The following step-by-step guide will provide you with the essential information on the auction process to ensure that you are comfortable with every step of your new auction journey.
You may also check our Frequently Asked Questions section or contact us if you require any additional information or assistance.
Step 1. REGISTER FOR YOUR COMPLIMENTARY DOMUS OPTIMA MEMBERSHIP
Complimentary Domus Optima Membership provides full lifetime access to the Members Area of our website with Domus Optima Real Estate Auction listings and services.
To register for your Domus Optima Membership, please:
- Visit our Members Area registration page.
- Fill out the registration form to initially set up your account. Your username should be at least 5, but maximum 10 characters long. Your password should be at least 12 characters long. To make it stronger, use upper and lower case letters, numbers, and symbols like ! ” ? $ % ^ &.
- Perform Google reCAPTCHA check and submit your registration form.
- Upon successful submission of the registration form, you should receive 2 emails from Domus Optima: confirmation of your Members account registration and activation request with a verification link to activate your account. Do not forget to click the activation link in the account activation request message. Otherwise, you will not be able to log in and you will not receive any of our future emails.
- Please choose your username wisely. Do not use the one which may be offensive or disruptive to other Domus Optima Members.
- Make sure there are no unwanted characters or spelling mistakes in your username, first and last names while filling out the registration form as you will NOT be able to change them later.
- We recommend that you add to your address book and/or contacts, and/or approved/safe sender list within your email application to ensure uninterrupted email delivery.
- If you do not receive our confirmation and/or activation request message(s) within a few minutes of signing up, please make sure that you typed your email correctly and check your other inbox folders such as Junk, Spam, Bulk and Promotions just in case our email(s) got delivered there instead of your main inbox. If so, select the confirmation and/or activation request message(s) and click Not Junk or Not Spam, which will allow future messages from Domus Optima to get through.
- Never share your Domus Optima Members account password with anyone. Domus Optima will never ask you to provide your password via email, phone, SMS, etc.
Step 2. LOG IN TO YOUR DOMUS OPTIMA MEMBERS ACCOUNT
Access all Domus Optima Real Estate Auction listings and services by logging in to your Domus Optima Members account.
My Account section of the Members Area allows you to manage all your account and membership details as well as provides the insight on your auction activities.
- Keep your Domus Optima Members account safe (especially, if you are using a public computer) by logging out of Domus Optima Members Area every time when you are done.
- Change your Domus Optima Members account password regularly and use a different password than you use for other websites. Make it difficult for others to guess. If you think someone knows your password, change it right away.
Step 3. FIND YOUR NEXT BEST HOME
Domus Optima Real Estate Auction Marketplace can help potential buyers to turn their dream REALTY into a REALITY. Please search Domus Optima Real Estate Auction listings to find your next BEST HOME.
- We recommend to allow Domus Optima Push Notifications, join our mailing list and follow us on social media to find out about upcoming Domus Optima Real Estate Auctions and ensure you never miss another one.
- You may also receive a direct referral link from your real estate agent to consider a specific Domus Optima Real Estate Auction listing that could be of interest to you.
Step 4. DO YOUR PRE-AUCTION 'HOMEWORK'
When your possible next BEST HOME is found, it is time to do your pre-auction ‘homework’. Find answers to your questions, attend open houses, and determine what type of budget you have. The actual Domus Optima Real Estate Auction is simply a scheduled transparent auction venue to offer to the seller the price you are ready, willing and able to pay for your possible next BEST HOME.
- DO YOUR RESEARCH. Domus Optima Real Estate Auction properties are listed and sold on an “As-Is” basis and without any contingency. Domus Optima will provide comprehensive information package with all the available information and documentation prepared to the best of Domus Optima’s, seller’s and listing agent’s knowledge, but give no warranty as to its correctness, accuracy or suitability for individual circumstances. You are solely responsible for completing your due diligence process including, but not limited to gathering all the required for you information, examining and evaluating the property prior to bidding, and to rely on your own judgement.
- HIRE / CONSULT PROFESSIONALS. We recommend to hire a licensed real estate agent/broker to assist you with due diligence process and all pre/post auction formalities. Your agent/broker may earn commission as a cooperating one if you are the winner of the auction and successfully closed on the property. Possible commission of the cooperating agent/broker is stated in the Domus Optima Real Estate Auction listing. Please ask your hired real estate agent/broker to check a Guide for Agents / Brokers and accept a Buyer Broker Participation Terms. In addition, we recommend to consult other professionals to obtain their expert and / or legal advice that is tailored for your circumstances.
- VISIT YOUR POSSIBLE NEXT BEST HOME AND ITS NEIGHBORHOOD. Make sure that the property of your interest is right for you. Drive through the neighborhood at different times of the day. The perfect opportunity for you to get to know your possible next BEST HOME is to visit open house(s) and private showing(s) held (if available) by the seller’s listing agent. Virtual tours of the property may be offered in addition or as the alternative to the in-person ones. Information on the scheduled events is stated in the Domus Optima Real Estate Auction listing.
- KNOW YOUR BIDDING LIMITS. rganize f mortgage pre-approval prior to participating in the Domus Optima Real Estate Auction.
- Open houses and private showings are subject to availability and currently in force health and safety guidelines.
Step 5. REGISTER TO PARTICIPATE IN THE DOMUS OPTIMA REAL ESTATE AUCTION OF YOUR INTEREST
Registration for Domus Optima Real Estate Auction is mandatory and generally opens at the same time when the property’s auction listing becomes available for Domus Optima Members. The deadline to complete your registration, requirements and the registration link is posted in each property listing. All Domus Optima Real Estate Auctions, except the Cohesion one will require either the initial registration deposit (refundable to all non-winning bidders) or your credit card pre-authorisation (a temporary hold). In case of the Domus Optima Cohesion Real Estate Auction, your completed Cohesion contribution will automatically register you to participate in the respective Cohesion auction.
Registration link will bring you to the correspondent payment page for either the initial registration deposit (refundable to all non-winning bidders) or your credit card pre-authorisation (a temporary hold) or the Cohesion contribution, as a part of the Domus Optima Real Estate Auction registration process. Please proceed to check out and provide all the requested information along with the details of your current government issued photo ID (to comply with the federal anti-money laundering and anti-terrorist financing rules). A copy (scan or picture) of this ID will be required in case of the auction winning.
If you are planning to bid on your possible next BEST HOME which is to be jointly owned, you should include information on your joint owner in the Additional Information section of the check out page. If incomplete or no information provided on your planned joint owner during the auction registration process, the property will go in your sole name only and you will be legally obliged to complete the purchase and close on the property.
If you have hired a licensed real estate agent/broker to represent and assist you with due diligence process and all pre and post auction formalities, please do not forget to appoint it during the registration process by filling out the related part of the Additional Information section of the check out page. Your agent/broker may earn commission as a cooperating one if you are the winner of the auction and successfully closed on the property. Please ask your hired real estate agent/broker to check a Guide for Agents / Brokers for the Buyer Broker Participation Terms. If incomplete or no information provided on your hired real estate agent/broker during the auction registration process, you are deemed to have accepted the appointment of the seller’s Listing Agent/Broker to act as a dual agent, and represent and assist you in the post auction and closing activities. There can be NO EXCEPTIONS to the procedure of your real estate agent/broker appointment.
Your registration for the auction is fully accomplished upon receipt by Domus Optima of the required information / documentation along with the initial registration deposit (refundable to all non-winning bidders) or your credit card pre-authorisation (a temporary hold) or the Cohesion contribution. The status of your registration process could be checked in the Orders section of My Account. Successful registration will appear as an additional membership in the My Membership section of My Account.
- Registering for an auction does not obligate you to bid / participate in the auction, but it will establish you as a bidder within that auction. Register early!
- Domus Optima Cohesion Real Estate Auctions have additional specific pre-auction step – Cohesion crowdfunding campaign. If a funding goal is not reached by the set deadline, all potential buyers / backers receive their cohesion contributions back and the property delists from the auction. If the funding goal is reached, all potential buyers / backers are rewarded with a certain number of auction bids proportionally to their respective crowdfunding contributions and the auction starts as scheduled.
Step 6. PLACE YOUR BID(S)
Once you have successfully done your pre-auction ‘homework’ and registered to participate in the Domus Optima Real Estate Auction of your interest, you are ready to bid for your possible next BEST HOME.
We highly recommend to log in to your Domus Optima Members Account prior to the start of the auction of your interest, check for updates (if any) posted to its listing and make sure that you are fully familiar with the Auctions Basics for the particular type of the auction. For example, Domus Optima Real Estate Auctions may differ by number of available bids for the bidders: Absolute and Reserve ones provide unlimited number of bids for each bidder, Sealed-Bid auction provides a single bid for each bidder, number of bids in the Cohesion auction depends on the amount of the Cohesion contribution as stated in the property listing.
Domus Optima Real Estate Auction starts on the advertised date and time. You along with other registered potential buyers will be able to submit ascending bids on the SAME auction Terms and Conditions at or above the Starting Bid amount with pre-defined bid increments and auto-extending auction closing time (soft closing).
You should be logged in to your Domus Optima Members Account to place your bids. Please navigate to the auction listing of your interest. Main information block of the started auction should show the bidding window and provide information on the time left until the end of that auction.
If a bid is placed within the last 3 minutes of the Domus Optima Real Estate Auction, the closing time will be automatically extended for an additional 3 minutes to allow other bidders to have a fair chance to compete.
Step 7. WAIT FOR THE RESULTS
At the Domus Optima Real Estate Auction closing time, the bidder with the highest bid wins the auction (Absolute and Cohesion auctions). For the Sealed-Bid and Reserve ones the bidder with the highest bid at or above the Reserve Price wins the auction at the closing time.
CONGRATULATIONS, if you are the auction winner! You have bought your next BEST HOME! You will need to sign APS (Agreement of Purchase and Sale) and provide all legal paperwork to the auction along with a remaining part of the deposit and the Buyer’s Premium (if any). The balance of the winning bid amount is due by the property closing date. Your real estate agent appointed by you during the registration for the auction or a Listing one, acting as a dual agent will assist you with all post-auction formalities.
Do not be upset, if you are not the auction winner at this time. That was just a rehearsal before your major auction win of the next BEST HOME! You initial registration deposit (if any) will be refunded to you. We recommend to regularly check back our upcoming auctions page or use the built-in notification channels (e.g. allow Domus Optima Push Notifications, join our mailing list and follow us on social media) to ensure you never miss your next BEST HOME. We look forward to helping you find your next BEST HOME soon!
- The winning bidder is responsible for the payment of all his/her closing costs, including, but not limited to Land Transfer Tax(es), legal and government registration fees.
- Special financial and/or legal requirements may exist for foreign buyers.
Step 8. CLOSE THE PURCHASE OF YOUR NEXT BEST HOME, IF YOU ARE THE AUCTION WINNER
Closing on the property takes place on the date first stated in the auction listing and stipulated in the signed APS (Agreement of Purchase and Sale). On that day the ownership and possession of your next BEST HOME is transferred to you via your real estate lawyer upon fulfillment of all financial and legal formalities. ENJOY your BEST HOME!
- It is your responsibility to arrange an appropriate insurance coverage for your next BEST HOME.
- Do not forget to submit your testimonial about the recent Domus Optima Real Estate Auction experience. Thank you!