How to Bid

You are only able to bid once you have registered for that specific auction. If you have not yet registered for the auction, complete

Bidder Registration⁠

first.

Sale Auction: In a sale auction, you will need to have your registration approved by the listing agent before you are able to place a bid. If you have not received an email confirming your registration has been approved within 24 hours of registering, please call the listing agent to ensure they have received your registration.

Lease Auction: In a lease auction, you will be able to place a bid immediately after you have registered for the auction.

Walkthrough Video

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https://www.loom.com/share/f4f2b5dbc7a44e8c93872dc94f0b5aea?sid=fd425f7a-72a6-44e8-8083-a914b7c25654⁠

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Max Bid

CommonGround’s max bid feature allows the bidder to set a maximum bid which is the highest bid that they are willing to submit in the auction. From there, CommonGround’s auction software will bid for the user in the lowest accepted increments as necessary up to that maximum bid. The minimum bid increment is set by the listing agent and can be seen on the “Place a bid” modal. The minimum bid increment may change

Setting a Maximum Bid: When a bidder places a bid on an item, they have the option to enter their "maximum bid," which is the highest amount they're willing to pay for the item. This maximum bid is kept hidden from other bidders.

Automatic Bidding: Once a bidder places their maximum bid, the auction platform's software takes over. The software automatically places bids on behalf of the bidder in predetermined increments, up to their maximum bid amount. This helps the bidder remain competitive in the auction without having to constantly monitor and manually increase their bid as others bid against them. The bidder will be alerted if their maximum bid is reached and will be able to increase their max bid at any point during the bidding period

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Screen Shot 2023-08-09 at 10.07.42 AM.png

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What’s next?

Once the auction has concluded, the listing agent will reach out to the winning bidder to sign the purchase agreement.

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