Frequently Asked Questions

How do I bid?

Three steps:

  1. Create an account with Roup.
  2. Register to bid on the property.
  3. Enter your bid.

How do I create an account?

You can create an account with Roup using your existing Microsoft or Google account. Alternatively, you can create an account with Roup with a user name and password that you create just for Roup.

You need to create an account with Roup only once.

How do I register to bid?

Go to the property detail page and register to bid with your user name and password.

You need to register to bid on each property individually.

How do I enter a bid?

Three options.

  1. You can hit the "refresh" icon in the box where bids are entered. The system will enter a bid for you equal to the current bid plus the incremental bid amount.
  2. You can enter your bid manually. Your manually entered bid must be at least equal to the current bid plus the incremental bid amount.
  3. You can enter a maximum bid by entering the highest amount you are willing to pay for the property. Your maximum bid is not displayed to the public. Roup's maximum-bid feature saves you the trouble of having to manually enter a new bid each time you are outbid. As other people bid on the property, the system will automatically enter bids on your behalf (in the minimum increment) until your maximum bid is reached.

I keep getting outbid immediately. Why?

If you are outbid immediately, it is probably because Roup's system automatically entered a bid for someone else. This happens when someone else enters a maximum bid that is higher than your bid.

Can you explain automatic bidding in more detail?

To illustrate how Roup's automatic-bidding feature works, assume you are bidding against only one other person under the following set of facts:

  1. The current bid is $100,000.
  2. The other person has entered a maximum bid of $105,000.
  3. The minimum bidding increment is $100.
  4. You enter a bid of $100,100.

Under this set of facts, when you enter a bid of $100,100, the system will automatically enter a bid of $100,200 on behalf of the person who entered a maximum bid of $105,000. The system will continue to automatically enter bids on behalf of the person who entered a maximum bid until the current bid is equal to the maximum bid. In short, when someone else has entered a maximum bid, you will keep getting outbid automatically until your bid is greater than the other person's maximum bid.

Roup's maximum-bid feature is a convenience to all bidders. It allows anyone to enter a maximum bid for a property without having to monitor the auction and place bids manually.

Can I increase my maximum bid?

Yes. You can increase your maximum bid by entering a higher bid amount before the auction ends. Your new maximum bid must be higher than the current bid.

Can I decrease my maximum bid?

Yes, with one exception. You can decrease your maximum bid by entering a lower bid amount before the auction ends. You cannot lower your maximum bid below the current bid.

What if more than one person enters the same maximum bid?

If more than one person enters the same maximum bid, the system will accept the bid that was entered first.

What if I enter the wrong bid by mistake? Can I correct it?

You can increase or decrease your max bid as described above but you will not be able to correct a bid entered by mistake if the bid you entered by mistake is the current bid. You will have a chance to confirm your bid before entering it; please review your bid carefully!

Can an auction be postponed or cancelled?

Yes. An auction can be postponed or cancelled. If an auction is postponed or cancelled, Roup's system will provide a notice of the cancellation or postponement on the property details page.

Can I inspect the property?

No. You cannot trespass or disturb the owner or occupant.

What is a buyer's premium?

A buyer's premium is a type of fee that is calculated as a percentage of the highest bid. This fee is added to the highest bid to determine the total contract price for the property.

As an example, if you submit a bid of $100,000 on a property that requires payment of a 5% buyer's premium, you will owe a contract price of $105,000 for the property if your bid is the highest bid.

Not all auctions require payment of a buyer's premium. If payment of a buyer's premium is required, it will be disclosed on the property details page.

Why does the auction sometimes remain open for bidding after it was scheduled to end?

The end of an auction may be extended automatically. If any bids are entered in the final minutes of an auction, the end of the auction will be extended automatically by a fixed number of minutes. This extension is called the anti-snipe time. The auction will end only after no bidding occurs during the anti-snipe time. This gives everyone an equal and fair chance to submit their highest bid before the auction ends.