Prior to participating in an auction get aware of its terms and focus on the issues:
Compulsory requirements for participating in Internet auction:
a) registration on the relevant website;
b) familiarizing with Internet auction regulations while registering and accepting them;
2.A participant pays the guarantee due from the start to the end of an auction. The payment can be made via plastic card. Electronic bank guarantee can be applied in this case.
3. In E-auction price increase is visible online. The efficiency for price rise totals 1% of the market value of the price. Whereas, it totals 5% in zero auctions.
4. If the auction result has been twice abolished, the guarantee service due on a repeated auction will be 50% of the market value of the property.
5. A winner in e-auction is the one proposing the highest price till the end of an auction.
6. An auction winner should make a full payment of the purchase and transfer the due to the NBE deposit account within 10 calendar days of the end of the auction.
7. In case the transferred guarantee due is less than the purchase price of the property or equals the price, NBE applies the transferred amount to fully cover the purchase price and the rest is transferred back to the auction winner.
8. NBE is obliged not to reveal the information received while registering a customer.
