Quick Answer: Does The Vendor Have To Accept The Highest Bid?

What happens if you buy at auction and cant get finance?

What if your auction finance pre-approval falls through after the auction.

Remember, when you bid at an auction, you make an unconditional and legally binding agreement to complete the purchase.

So, if for some reason your finance falls through, you’re still liable for the contract..

Why do I get outbid on eBay at the last second?

Sounds like YOU bid at the “last second” and got outbid by an earlier higher bid. … Any lower subsequent bid is automatically outbid by that higher bid immediately upon being placed.

Can you bid at auction without pre approval?

You can bid at auction with pre-approval, but if you’re the highest bidder you’ll need to pay the deposit after the auction.

What happens if you bid at a house auction and don’t pay?

If you are bidding at an auction, you must be ready to exchange contracts and complete the sale. Otherwise, you will lose your deposit and may be liable for any damages suffered by the vendor. If you are the highest bidder, you have to sign the contract, and there is no cooling-off period.

Can the seller see my highest bid?

Answers (3) No one but you can see your maximum bid. Other bidderes and hte seller can see all the high bids. If you are outbid, everyone sees your maximum bid.

Can eBay seller refuse bid?

Go to the listing and click the number of bids (next to the price). Go to the bottom of the bid history chart and choose the “cancel bids” icon. You will be redirected to the bid cancellation form where you will enter the info about the auction and the bids you want to have canceled.

Can eBay seller reject bid?

Sellers can cancel bids for any reason. and if they cancelled you bid, then you are no longer an active bidder on the item and even if nobody else bids, your bid will not count. Sellers can’t decline a bid. If it’s an auction with a reserve, bids below the reserve amount mean nothing.

Do you need cash to buy at auction?

Yes, you can and many of our buyers purchase with finance provided by lenders. You will nearly always need to have the deposit monies, however if you have other property assets you may be able to borrow against these. … Many others use specialist Auction Finance which can be arranged quickly.

What happens if you win a bid on eBay and don’t want it?

A unpaid item strike will be permanently on your account. This may severely limit your ability to buy from other sellers. Many sellers will block buyers from bidding if they have unpaid item cases that were found against them. Or they will delete your bids since they know you won’t pay.

Does eBay sniping still work?

Because eBay says it’s part of the eBay experience. “Placing a high bid in the closing seconds of an auction-style listing is called “sniping” within the eBay community. Sniping is part of the eBay experience, and all bids placed before a listing ends are valid, even if they’re placed 1 second before the listing ends.”

Do Ebay sellers have to accept the highest bid?

you don’t have to accept a bid on an auction. once the buyer sees the listing and bids, they are actively bidding and if they win and pay, you will get their shipping information.

Can I sell to highest bidder if reserve not met?

A reserve price is a minimum price a seller is willing to accept from a buyer. In an auction, the seller is not required to disclose the reserve price to potential buyers. If the reserve price is not met, the seller is not required to sell the item, even to the highest bidder.

Why does eBay not show the highest bid?

Answers (2) eBay hides the full amount of the leader’s/winner’s bid and only uses as much as necessary to win/lead. It shows $2.99 because that is what you would pay if nobody else bids.