Auction is a system where a property or item is submitted for Sale without a set price, the highest bidder shall be the successful purchaser if the reserve price is met, and the reserve price is the minimum amount which the owner is willing to sell the item or property.

The benefits of buying at auctions include expanding your options and possibly purchasing at a discount. You may face less competition to buy an auction house compared with buying traditionally, but you will also be dealing with a different pool of potential buyers often, experienced investors. Auctions reduce the time to purchase the item or property. Purchasing and closing dates are known. Buyers know they are competing fairly and on the same terms as all other buyers.

At Response auction, prospective buyers bid increasingly high prices, competing against one another, until the highest bidder emerges at the end. The highest bidder, then, buyers the item or property at the auction provided the highest bid exceeds or reaches the reserve price. Otherwise, the item is “passed in”.

By making the negotiation so public, the buyers have a tremendous advantage over the seller, instead of having to offer their highest price to win the auction, buyers only must outbid the buyer below them. And this is how auctions get lower prices.  

Response Auctioneer established a fantastic approach to gain access to a broad range of items and properties over 18 years ago and was recognized by the Dubai government's land department. One of the finest ways to make sure you get value for your money is through response online bidding. You'll be a smart buyer and obtain a fantastic deal if you educate yourself on the right procedure for online bidding.

Response auction intends to use the KYC system (know your client) rather than requiring a deposit from prospective bidders. However, in most cases, particularly those involving high-value items like art or real estate or by order of the UAE government, deposit becomes mandatory for those cases. Response will hold onto the amount that a bidder must deposit or keep by the Auctioneer as a guarantee of proof of fund and commitment to complete a purchase after a successful bid.

Each lot's viewing schedule will be published in the description on our website. 

The remaining balance on the items or different and will be indicated on description on each lot.

Buyers understand and agree that properties sold with Ejari and tenancy agreements will continue with terms and conditions and duration of tenancy agreements; however, the vacating of the property at the time of selling or at a later stage is not the responsibility of the seller or Response Auctions.

No there is no limit for purchasing if enough funds are secured as a security deposit, which is 20% of the value.

No, selling the property after the fall of the hammer is final.

The seller must provide a power of attorney certified by a notary public or memorandum of association authorizing him or her to enter a buying or selling contract on behalf of a company Copy of passport, copy of Emirates ID of the owner of the property, and POA must be presented, those overseas power attorneys need to be certified by UAE Department of Foreign Affairs.

Yes, in some cases it is possible to buy a property before the auction day, but the auction fee and charges will still be applicable.

Yes, all online bidders will be required to register online and follow the KYC process.

Bidding online is not difficult, Please make sure you complete the registration process and log in to the bid live section before the time and date of the auction or watch the “How to bid online “demo video.

No, only one of the parties needs to register as online bidders. Should you be successful in the bid please be sure to advise the selling agents.

1. Open to log in section 2. “Forgot password” 3. You will be redirected to Response Auctions from there enter the email address you registered with 4. You will receive an email, click the link to change your password 5. Enter your new password.  

You are unable to cancel your account if you have registered to bid for a property, however, you can deactivate your account at any time within your account setting.

A vendor or owner bid is a bid made by the Auctioneer on behalf of the vendor (practice on same cases on live auction with the auctioneer). It’s not a bid to buy the property and is used to keep the bidding moving forward.

If an Auctioneer announces “the property is on the market” this means it has reached or exceeds the reserve price set by the vendor and is going to be sold at auction.

The reserve price is a price stipulated by the vendor as the lowest acceptable price the property can be sold for at auction.

No, the reserve price is kept confidential, although it may be disclosed during, or at the conclusion of the auction.

 A bidder number or bidder card is provided to registered bidders before an auction commences.

If a property has been sold prior to auction this would mean that an offer had been made on the property pre-auction and accepted by the property owner.

Yes, individuals found to be dummy bidders at an auction may be prosecuted and fined, as can the agent and auctioneer if they were involved in the arrangement.

No, it is up to each Auctioneer.

Yes, although these must be worked out and confirmed in writing before the auction commencement.

If a property has been “passed in” it means that the “reserve price was not met and therefore the property was not sold at the auction.  

No, this is not possible.

You need to register but you don’t need to be a bidder and pay the deposit or for the KYC process.

Selling agents often welcome pre-auction offers.

Properties that don’t meet the reserve are passed in.

Due diligence is the examination of every aspect of an item or property.

Failure to complete the purchase will find the individual in breach of the contract and may see them significant penalties, including forfeiting the deposit paid.

A price guide is an estimation of price and marketing figures which is used to guide potential buyers as to how much a property or item could be worth, based on recent sales of comparable properties or valuation reports.

Disclaimer The frequently asked questions only provide broad information, guidance, suggestions, and responses. The data doesn't account for the unique requirements and situations of people and businesses, nor do the regulations that control auctions. You might want to get independent professional counsel prior to placing an auction offer. Although every attempt is made to give correct information, the data in the commonly asked questions could change at any time. Response Auctions disclaims all liability for any provided information and neither guarantees nor warrants that the material is accurate