Guide to Internet Bidding

Are you interested in buying a property or plot of land by auction? Bidding via the internet can be one of the easiest methods, and our intuitive platform means you can bid with complete confidence. 

Understanding how internet bidding works can make the process less stressful, allowing you to navigate the transaction with a clear head. We have tried to make bidding online as straightforward as possible, so follow our guidance below to learn exactly how to do it. 

What is auction internet bidding? 

Bidding on properties via the internet means watching a live-streamed auction event and clicking a button when you are ready to bid. The process is super simple, and we’ve detailed the steps from preparation to registration, all the way to placing your bids, below. 

Before the auction 

Browse our upcoming auctions and select one with properties or plots of land of interest. Make a note of the date and time, and ensure your schedule is free for that day. You should also ensure that wherever you plan on bidding from has a strong, reliable Wi-Fi connection. 

Register to bid 

Next, you’ll need to register as a bidder. On this page, you’ll be asked to select your bidding method and the lot numbers you are interested in bidding on. We’ll then request some personal information to complete the registration form. 

Here is what to expect next: 

• Log in via EIG’s Auction Passport 
• Provide contact details, choose bidding type, and select lots you’re interested in
• Complete the anti-money laundering check and provide your debit card details
• Wait to find out if you’re approved (this decision will be made instantly) 

What to do when online bidding opens 

Join the auction when it begins. Ensure you are in a distraction-free environment so you can hear the auctioneer clearly at all times. When the property or land you want to buy comes up, you’ll be able to submit a bid. 

Remember not to go higher than your pre-determined budget, as you are legally bound to the sale if you are the winning bidder. Failure to complete the transaction means you lose your buyer fee, as well as your deposit or reservation fee, depending on whether the sale is unconditional or conditional. 

What happens when bidding closes? 

The deposit and buyer or reservation fee will be taken immediately from the bank account the winner provided during registration. You’ll then have a fixed completion time that’ll be detailed in the property’s legal pack. 

Register now and get ready to bid via the internet  

Register to bid today and ensure you are prepared for our future auction events. If you have any questions about auction internet bidding,  get in touch with a member of our team.