01
Jul
2011
Online auctions – how it works at MyRoof (Part 1)

Are you somewhat uncertain on how the online auctions at MyRoof work? It consists of three basic processes namely “Before making an offer”, “Making an offer” and “Acceptance of an offer”.

Before making an offer:

The status of each property will indicate clearly what the current status of that property is. “No active offer” means that there currently is no offer on the property for the seller to consider. “Highest pending offer” means that the offer currently displayed on the property is the highest offer and it is still active. This amount will change when the offer expires or someone else makes a higher offer. “Transaction in progress” means that the seller has already accepted an offer on the property. However, you are still welcome to make an offer on the property. Should the current transaction fail, your offer will be considered and you will be notified via e-mail.

Be sure to know the status of the properties you are interested in. This will save you time and effort.

This is the first of the three processes, read more in part 2

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