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The Online Property Auction Process
The OPA365.com auction process operates entirely online and is outlined in four simple steps below. Further details for buyers and sellers can be found in the Buying and Selling pages.
1. Property submitted to auction
- Seller submits property to the site
- OPA365 review property and contact seller
- Reserve price and auction date confirmed
- Property submitted to Pre-auction
2. The Pre-Auction window
- Pre-auction period lasts 7 days
- OPA365 market the site and properties
- Buyers carry out due diligence
- Buyers pre-qualify to bid on property
3. The Live Auction period
- Live auction period lasts 7 days
- Buyers nationwide compete to purchase
- Emails and texts keep buyers updated
- Property is sold to highest bidder
4. The Completion period
- Solicitors are instructed
- Contracts are exchanged
- Funds are released to the seller
- Properties complete
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