FREQUENTLY ASKED QUESTIONS
Familiarity leads to smooth transactions. We want you to be familiar and comfortable with LASTBIDrealestate.com and the online auction process and make sure that all your questions are answered, so that your experience buying real estate at online auction is a positive one. Our Frequently Asked Questions are a compilation of many questions and have put together from actual questions we have experienced, this list is extensive so that you have the answers and familiarity you need to be an informed, confident bidder. We want to provide you with a smooth transaction, meeting and exceeding all your expectations!
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A bid increment is the required minimum amount that the auction bid can successfully be increased by. For example, if bidding for a particular item has reached $20, and the bid increment is $5, than the next acceptable bid would need to be $25. Any placed bids that exceed the bid increment are treated as a maximum bid.
Wire Transfer or Cashier’s Check are only acceptable form of payment for Real Estate.
Credit card funds are considered borrowed funds which is why they are not appropriate for purchasing real estate.