- A specified bid deposit based on the actual property value is paid by you to take part in the live bid process. Refundable if you lose the auction
- Sign terms booklet in our office within 2 days from the end of the auction.
- 10% deposit or full winning amount plus commission must be depostied into escrow within 4 days of end of auction
- A maximum of 15 days for practical completion of the sale.

LIVE BID | BID ROOM | MAKE AN OFFER | |
---|---|---|---|
Can anyone buy through auction? | YES | YES | YES |
Can a property be bought with a mortgage? | YES | Mortgage in Principle should be secured | YES |
How long does it take to exchange? | 28 days | Immediately at end of auction | 28 days |
How long does it take to complete? | 30 day | 5 days | 60 days |
What market is this type of auction aimed at? | Everyone | Sellers wanting predictable timescale | Everyone |
How much will the property sell for? | Best Market Price | Potentially less than Market Price | Best Market Price |
Will this method limit the number of buyers? | No | Potentially | No |
Is a Full Legal Pack required? | No | Yes | No |
Belmazad brings you the best-in-class features like Live Bid, Bid Room and Make an Offer to help you experience an element of ease in the entire process of buying and selling of property.
"LIVE BID", one of the main prime features of 21st-century auction, provides a transparent market platform to all the interested buyers and sellers. Thus, combining the traditional method with a modern approach.
To eliminate constraints of time limit, has come up with a feature called “MAKE AN OFFER’’. It removes the pressure on both and sellers by initiating a process that does not waste your valuable time. Thus, No Clock Ticking No Pressure.
As a result of these features, auctions has no longer remained the game of cash rich buyers and professional investors. With this innovative marketplace, even a normal residential buyer can conduct their property related process easily.
The choice a seller makes in deciding which of our services to us is dependent on many factors and personal considerations.
If a seller wants a predictable sale at the end of the auction then "Direct Sale" is probably the best option for them. Alternatively, if a seller wants all the excitement of an online auction with a more accessible approach then "Live Bid" is probably best but if a seller wants still the excitement but without any pressure of "an auction" then "Make an Offer" must be the preferred choice.
Liked a property? Get yourself registered with us and pay a nominal registration fee. Place your bid in the given time frame. In case you got lucky then you can be the owner of the property.
No extra cost apart from commission percentage based on actual property price will be charged from bidders.
“LIVE BID” is a easy to use process, still based on a fixed timescale but allowing short periods for exchange and completion to further assist the buyer and seller.
If you are the successful bidder you will be informed electronically from the real-time auction database and someone from belmazad will subsequently call you to outline what happens next.
Once the above elements have been completed, we will require you to confirm your solicitor or conveyancer to commence the formal purchasing process.
- Exchange of contracts:
By accepting our terms you are agreeing to exchange contract within 15 days following the completion of the auction, the only fees you will have paid during this time will be the commission and deposit into escrow.
- Practical Completion of contracts:
This is the formal sale and purchase of the property whereby all fees, funds and property particulars are finally agreed and the transfer of title and legal ownership occurs.
Belmazad has come up with fusion of tradition and modernity with its feature called Bid Room
Just select an interesting property, register for the auction, pay a bid deposit and place your bid on it.
The Buyer Information Pack (Terms Booklet) contains key information and documents relating to the property that is being sold. This information is available for all interested parties to review prior to placing any online bid. It is recommended that any interested parties review the documents contained within the Buyer Information Pack and satisfy their own enquiries with regard to the content contained within. We recommend that you seek independent legal advice before placing any bids.
All “+Live Bid” properties will be offered with the full legal Pack. All full legal Packs are produced by third parties direct instruction of the vendor of the property or via belmazad.
Our Full Legal Pack or Buyer Information Pack includes the main searches available required for mortgage purposes. These searches normally take the longest to be returned therefore they may not be immediately available to view but will be automatically updated to the website listing when they become available.
Should you require any further specific searches you will be able to order these through your solicitor or contact belmazad.
We urge you not to bid on any property of interest until you are totally satisfied with all elements of your potential purchase and after thorough discussions with your legal advisers.
There is a need by every bidder to deposit an earnest amount in proportion of the actual price of the property. Only successful buyer’s deposited earnest amount will be adjusted in the property’s decided price, whereas the deducted amount of other bidders will be refunded.
This reservation fee has been been waived for our first launch to assist the buyer but to ensure that the seller receives the best price for their property. The successful buyer should also take into consideration that they have secured the purchase of a competitively priced property sold to them by a motivated seller
Buying through the “Make an Offer” service could not be simpler. This is a bidding option with the pressure of a time sensitive auction removed. Now you can easily make an offer on all the properties you are interested in.
One of the best things of Make an Offer is that there is no need for you to pay any amount during the whole process. That means you are getting a fantastic chance to own your dream property in just easy and we only take a commission when you have won, simply by registering with belmazad.com.
“Make an Offer” is an easy to use process whereby you simply bid with every bid submitted privately to the sellers for consideration. Once the seller is happy with the offer the process starts but “Make an Offer” is still based on a fixed timescale but allowing longer periods for exchange and completion to further assist the buyer and seller.
- Exchange of contracts must be within 5 days from the end of the auction.
- A maximum of 15 days for practical completion of the sale.
If you are the successful bidder you will be informed electronically from the real-time auction database and someone from belmazad will subsequently call you to outline what happens next.