To participate in a Saunders auction, buyers must first create a secure profile on our bidding platform. This ensures all participants are verified.
For high-value land and commercial assets, we may require verification of financial performance capability, such as a proof of funds letter.
Auction contracts are firm and non-contingent. Understanding the legal framework is essential.
At Saunders Auctions, we maintain a secure and professional bidding environment for all participants. Because a bid is a legally binding contract between you and the seller, registration ensures that all bidders are vetted and have formally agreed to the specific Terms and Conditions of the sale. This process protects the integrity of the auction and ensures a fair, transparent experience for everyone involved.
Yes, in most cases. A buyer’s premium is a standard industry fee, typically a percentage of the final high bid, that is added to the "hammer price" to determine the total contract price. This premium allows us to provide world-class marketing, extensive due diligence materials, and a seamless transaction platform. The specific percentage for each auction will always be clearly outlined in the Terms and Conditions of that specific listing.
Transparency is key to our process. If you are bidding online, our platform will provide real-time visual confirmation if you are the high bidder or if you have been outbid. If you are the winning bidder when the auction closes, you will receive an immediate notification via email. For live or onsite auctions, the auctioneer will clearly announce the "Sold" status and identify the winning bidder by their paddle number.
Once the auction concludes, our team will provide you with a detailed settlement statement or invoice. You will be required to submit a non-refundable earnest money deposit (typically via wire transfer or certified check) immediately following the auction. The remaining balance is paid at closing.