Post-Auction Offer
Everybody deserves a second chance!
A Post-Auction Offer is a feature of Domus Optima Real Estate Auctions that provides a “second chance” to secure a successful transaction between the seller and a non-winning bidder at a price equal to their last (highest) bid if:
- the property has not been sold at the auction (e.g. the reserve price set on the auction listing was not met by any bidders), or
- the auction winner has failed to fulfill their obligations.
The Post-Auction Offer can be made within 14 days of the auction ending.
The non-winning bidder may choose to accept or reject this Post-Auction Offer at their discretion.
If your current BEST HOME has not been sold at the auction, or if the auction winner has failed to fulfill their obligations, please discuss the matter with your real estate agent / broker and explore the most suitable opportunities for you. One possible solution is to make a Post-Auction Offer to a non-winning bidder to purchase your property at a price equal to their last (highest) bid.
To proceed with your Post-Auction Offer, please instruct your real estate agent / broker to submit a Post-Auction Offer Request within 14 days of the auction ending. Include the property’s address, auction lot number, the offer amount and its expiration date/time in the request.
Please note that there is a current fee associated with the Post-Auction Offer Request. You can find a full list of Domus Optima Real Estate Auctions fees and commissions on the Schedule of Fees page.
Once all formalities are complete, your Post-Auction Offer (signed Agreement of Purchase and Sale from the seller’s side) will be sent to the non-winning bidder of your choice. The non-winning bidder may choose to accept your Post-Auction Offer by signing and returning it, or they may reject it by leaving it unsigned and unreturned until the expiration date/time.
CONGRATULATIONS, if your Post-Auction Offer has been accepted and your current BEST HOME has been sold! Your real estate agent / broker will assist you with all the closing formalities.
Do not be disheartened if no interest has been shown in your Post-Auction Offer, and your current BEST HOME remains unsold at this time. We will discuss the results together with your real estate agent/broker and explore other opportunities for a successful sale of your current BEST HOME.
If you didn’t win an auction, the seller might offer you another opportunity to purchase your next BEST HOME by submitting a Post-Auction Offer through Domus Optima Real Estate Auctions. This offer includes a signed Agreement of Purchase and Sale from the seller’s side and allows you to buy your next BEST HOME at a price equal to your last (highest) bid.
You have the choice to accept the received Post-Auction Offer by signing and returning it by the expiration date/time or reject it by leaving it unsigned and unreturned until the expiration date/time.
CONGRATULATIONS if you decide to accept the Post-Auction Offer and purchase your next BEST HOME! You will need to provide all necessary legal paperwork, along with a deposit and the Buyer’s Premium (if applicable). The balance of the purchase price is due by the property’s closing date. Your real estate agent, whether appointed by you during the auction registration or a Listing agent, acting as a dual agent, will assist you with all the closing formalities.
Do not be disheartened if you choose not to accept the Post-Auction Offer. It’s all part of the process, preparing you for your eventual success in winning your next BEST HOME at Domus Optima Real Estate Auction!
Explore our step-by-step guide on participation in Domus Optima Real Estate Auctions:
FOR BUYERS
FOR SELLERS
FOR AGENTS / BROKERS
