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How to place a bid and become a qualified bidder

Modified on: Thu, 9 Sep, 2021 at 4:16 PM


Selling a property by Openn Negotiation still requires professional real estate agents to take normal precautionary steps to ensure buyers subject to conditions have suitable pre-approval.
Explain or SMS these instructions or direct your Buyers to our How to Buy page to understand how to become a qualified buyer.

ENTER A STARTING PRICE

  • The bidder registers an account at www.openn.com.au, or via the free app downloaded from Apple app store or Google Play
  • Search for the property address
  • Select 'Place a Bid' and enter a starting price. 
  • Once the price has been entered, the buyer will be able to enter some personal details and any terms. 
  • The agent will be notified via the app and email however the pending price will not show in the Bidding Timeline until it is approved.  

COMPLETING THE PAPERWORK

  • All bidders need to complete and sign the relevant documentation for their state, including their personal information and any offer terms they may want to submit. This can be completed digitally in states where Contract Automation is supported.
All details entered into the Buyer Qualification documentation is binding - make sure it is accurate!

SELLER APPROVAL

  • Once the buyer has signed the paperwork, the Seller needs to approve their terms and also sign (except in NSW). If the seller doesn’t accept the terms for any reason, you should renegotiate on the terms with both buyer and seller to attempt to reach a joint approval 

BUYER QUALIFICATION

  • When the terms are signed by buyers and sellers, the Buyer is now qualified and pending bid is approved by the agent. The pending price will become a live bid and the Bidder will be allocated their own unique paddle number and colour and are now able to improve their bid at any time and participate in the Final Bidding Stage (FBS).
Do not approve a bidder in the app, until all their contract documentation is signed and your Seller has approved their terms.

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