National Property Solutions Inc.

Redefining Perceptions

about Auctions

Action Bidder Assistance Frequently Asked Questions

BIDDER ASSIST

We recognize that buying at auction may be a new experience for you and we want you to know we are here to assist and make your participation in our auctions a stress free, enjoyable and profitable experience.

The following is a list of frequently asked questions and answers. The Terms of Sale for a particluar auction may vary from the answers provided below and should be reviewed and accepted by all bidders prior to bidding.

How can I inspect the assets to be sold?
Inspection times are scheduled and posted on each auction information page based upon the location and hours of operation for the facility where the assets are located.

Will the auction be a live auction, on the internet or some other method?
On the auction detail page the method of auction is explained as well as the terms of sale and requirements to register to bid.

How do I register for the auction?
Registration requirements vary for each auction and may require pre-registration as well as a deposit or verification of funds prior to the auction. For most events the process is simple a government issued I.D., cash or a cashier's check and you are ready to begin bidding.

If the auction is online how will I gain access and bid?
On the auction information page there will be a link to register to bid and gain access to the bidding site. Most often you can register to bid prior to auction day. Then on auction day you will log in and begin bidding. Close of bid times will be posted. If you have any questions during the bidding process simply contact our office and we will be happy to assist.

If the auction is a live auction what should I expect?
Most live auctions are conducted on site. Registration and final inspection times are posted on our site so bidders have time to inspect the assets and have any last minute questions answered by members of our staff. The auction will begin promptly following the auctioneer announcing the terms of sale and other procedures which will be followed for this specific auction event. Check out typically begins at the conclusion of the bid calling. Removal is either immediately following the payment for your purchases on the day of the auction or at other times announced by the auctioneer.

If the auction is a webcast auction what should I expect?
In a webcast auction you may either participate in person just as you would for any live auction or bid over the internet in real time against those bidding in person on the auction floor. If you are planning to participate as a bidder over the internet, there will be requirements for you to follow in order to register, fund your purchases and for the removal of your items.

Can I place an absentee bid?
Yes, we understand circumstances may not allow a potential buyer to participate at an auction. We provide these potential buyers with the option of placing an absentee bid. The procedures for absentee bidding vary from auction to auction and are explained either in the terms of sale or may be verified with the auction company at least two business days prior to the scheduled auction time and date.

Can I bid over the telephone?
Yes, in either a live or telephone bid auctions, bidders may place bids via telephone. The procedures for telephone bidding vary from auction to auction and are explained in the terms of sale and may be verified with the auction company two business days prior to the scheduled auction time and date.

What order will the items be sold?
The order of bidding most often follows the order of the catelogue with sequential lot numbers. In live and webcast auctions, the auctioneer will confirm the order of bidding prior to the start of the auction. In an on-line auction you may bid in any order you choose. The order the bidding closes can be followed by the countdown clock on the specific auction site.

How are the items being offered at the auction?
The auctioneer may bid lots individually, combine lots, or offer high bidder's choice for a number of similar lots. Prior to the commencement of bidding, the auctioneer will announce the method of bidding.

Is a deposit required to bid?
Evidence of funds to purchase is required as part of the registration process for all aucitons. See terms of sale for individual auctions for details.

What is a Buyer's Premium?
The buyer's premium is a disclosed percentage added to the high bid to determine the Total Purchase Price to be paid by the buyer.

How will I pay for my purchase?
For on-site auctions payments are either in cash, certified funds, pre-authorized corporate checks and for some events credit cards are accepted. In all cases, goods must be paid for immediately following the close of the auction.

Will I be responsible for any other costs or fees?
Yes, you will be responsible for the payment of appropriate sales tax, if applicable as well as the cost of any removal, packing or shipping costs.

Can I use a Tax Exempt Certificate to avoid paying sales tax?
Yes, you will need to provide a copy of the Tax Exempt Certificate when paying for your purchase.

What is expected of me to remove my purchase?
You are responsible for the cost of removal without damage to the property of items you purchase. Items maybe removed following payment either by you, your employees or by a contractor (rigger) you hire to remove such items. For larger items or installed items, a Certificate of Insurance may be required prior to the deinstallation or removal. All electrical, plumbing or other mechanical removal requires the buyer to terminate all mechanical connections in a safe and acceptable manner to local building codes.

When do I need to remove my purchase?
When you are required to remove your purchase by varies with each auction. Sometimes it is immediatly following the bidding other times it is at designated removal times following the event. Items not remove by the times designated in the Terms of Sale shall be deemed abandoned with no refund available to buyer.

Wait, I have another question!

If you have a question specifically for a particular auction or if there is something we have not covered below, please This email address is being protected from spambots. You need JavaScript enabled to view it.. Remember that the Terms of Sale will be posted with the auction catelog and are specific to each auction so therefore should be competely reviewed prior to bidding.