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  • How does the BidX1 process work?

    Our digital marketplace is secure and efficient, combining cutting-edge technology with market-leading expertise to enhance the property transaction process. The BidX1 team have sold thousands of assets on the platform, from houses and apartments to offices, industrial units and development sites, as well as large-scale investment portfolios.

  • When is the next Sales Day?

    If you’d like to be notified about our latest catalogues, sale results and other property-related information, sign up for our newsletter.

  • How much does it cost to sell a property at BidX1?

    Our fees are broken down into an initial entry fee followed by a commission (a percentage of the sale price). Fees vary depending on lot size and property type; this is something that can be further discussed on enquiry. For more information please see our Sell with BidX1 page.

  • What kind of properties do you sell?

    We sell a broad mix of commercial and residential properties from houses and apartments to retail units, offices, industrial units and developments sites, as well as large-scale investment portfolios.

  • Can I view a property before the Sales Day?

    Yes, viewing times are shown on our website within each Lot (property). To see the exact address of a property, you must be registered and access the legal section of each Lot (property).

    If you have missed the scheduled viewings or you cannot attend at the listed time, you can check with the Sales Consultant assigned to the Lot (property) to see if it’s possible to schedule another viewing.

  • Where can I view the legal documents relating to a property?

    Legal documents can be downloaded from the relevant property page. Simply click on the ‘Legals’ tab below the images of the property.

    Please note that you will need to create a BidX1 account to access the legal documents. This is free and takes less than two minutes.

  • Where should I direct queries about the legal documents relating to a property?

    Our Sales Coordinators are best placed to answer any questions you have about legal documents. The Sales Coordinator for each Lot (property) is listed on the relevant property page.

  • How long after the Sales Day will I need to complete the sale?

    The deed must be granted within the period indicated in the "Legals" tab for each Lot (property).

  • Can I buy a property before the Sales Day?

    Properties are sold through bidding on our digital Marketplace. Exceptionally, bids are accepted and are transferred to the seller.

    For any questions regarding these situations, please contact the Sales Coordinator listed on each Lot (property).

  • What does “Deposit” mean?

    A deposit must be provided at the time of registration. This amount will be dependent on the Minimum Price which has been placed on the property and the number of lots you wish to bid on, subject to change. The amount required is displayed in the bidding section for each property, to the right of the main image.

    Payment of the deposit can be made via debit/credit card of bank transfer. If you pay via debit/credit card, the deposit will be taken from your card only if you are the successful purchaser of the property. If you are not the successful bidder, the hold on your card will be released (or bank transfer returned in line with our terms and conditions).

  • How much is the Deposit?

    This depends on the minimum price of the property. 

    Minimum Price - Deposit

    <=€150.000   -    €1.500

    150.000-500.000 - €2.000

    €500.000 - €750.000 - €3.000

    €750.000 - €1.000.000 - €10.000

    €1.000.000 - €2.000.000 - €40.000

    €2.000.000 - €3.000.000 - €60.000

    €3.000.000 - €4.000.000 - €80.000

    €4.000.000- €5.000.000 - €100.000

    >€ 5.000.000 -  €150.000

     

  • Is my deposit secure?

    Yes, Bidx1 has a insurance policy with Crédito y Caución with the number 4.220.408 which covers your deposit.

  • What does “Minimum Price” mean?

    Each property has a Minimum Price – the lowest price that the seller is willing to accept for the property. If the bid does not reach the Minimum Price, the property cannot be sold.

    The Minimum Price will be displayed in the bidding section for each property, to the right of the main image.

  • When does the registration open for a Sales Day?

    Usually the process opens 10 business days before the Sales Day, although there are times when it may be earlier. If you sign up for notifications about Spanish sales, we will send you a notification to inform you about the date when registration for bidding opens. 

    Registration is a straight-forward process and a full guide is available here

  • How do I register to participate in a Sales Day?

    If you’re interested in a Spanish property and want to bid, you’ll need to register your details in order to participate. This is a straight-forward process and a full guide is available here

     

  • Is there any administration fee?

    No, there is no charge for the buyer.

  • What information do I need when registering to bid?

    People with legal residence in Spain

    Physical persons

    1. National Identity Document

    2. Selfie

    3. Credit or debit card details or proof of payment of the Guarantee Deposit through the proof of transfer to BidX1's bank account.

    4. Declaration of the purpose and nature of the business relationship (according to the drop-down menu in the Virtual Platform. Options: "principal residence", "second residence" or "real estate investment").

    Legal Entities

    Simple Note from the Mercantile Registry.

    2. Public deed stating the powers of the legal representative.

    3. National Identity Document of the legal representative (or copy of the passport).

    4. Selfie of the legal representative.

    5. Proof of payment of the Guarantee Deposit through the proof of transfer to the bank account of BidX1.

    6. Declaration of real ownership of legal persons (responsible declaration). If no natural person controls more than 25% of the company, the responsible declaration must identify the directors as persons who control the company.

    7. Declaration of the purpose and nature of the business relationship (according to the drop-down menu in the Virtual Platform. Options: "corporate headquarters" or "real estate investment").

    8. Corporate scheme signed by the legal representative, showing the parent companies, up to the last owner(s) indicating natural persons who, where applicable, have more than 25%.

     

    People not resident in Spain

    Individuals

    1.Copy of passport

    2. Selfie

    3. Invoice of services or any other document that evidences the place where the person's domicile is stated.

    4. Credit or debit card details or proof of payment of the Guarantee Deposit through the proof of transfer to BidX1's bank account.

    5. Declaration of the purpose and nature of the business relationship (according to the drop-down menu in the Virtual Platform. Options: "principal residence", "second residence" or "real estate investment").

    Foreign Legal Entities

    1. Certificate of Good Standing issued by the competent public authority of the country of incorporation.

    2. Public deed stating the powers of the legal representative.

    3. Copy of the legal representative's passport.

    4. Selfie of the legal representative.

    5. Invoice of services or any other document that evidences the place where the registered office of the legal person is stated.

    6. Proof of payment of the Guarantee Deposit by means of the proof of transfer to BidX1's bank account.

    7. Declaration of real ownership of legal persons (responsible declaration). If no individual controls more than 25% of the company, the responsible declaration must identify the directors as having control of the company.

    8. Declaration of the purpose and nature of the business relationship (according to the drop-down menu in the Virtual Platform).

  • How do I place a bid?

    Once your bidding registration application has been authorised by the BidX1 Team and the bidding period opens, you are free to place bids on your approved lot. Bidding takes place on the relevant property page – the same page you’ve been visiting to get information about the property and to register for bidding.

    Placing a bid is easy:

    • Log into your BidX1 account
    • Click into the property you are approved to bid on
    • On the right-hand side of the page, you will see the bidding section. Here you can decide the amount that you want to bid, your Next Bid, by using the + and – buttons.

    When you're happy with the bid amount, you can either:

    • Place Instant Bid - This will place a single bid for the amount you have specified.
    • Set Max Bid - This will set a Maximum Bid for the amount specified. The computer will then enter bids for you, only as it becomes necessary to keep your position as the winning bidder, and only up to the maximum bid price that you’ve specified. Your Max Bid cannot be viewed publicly.

    In both cases, you will be asked to confirm your bid amount before it is placed.

    We will keep you informed of your bidding via email – you will receive an email for your records each time you place a bid and, if you are out-bid, a further email will be sent to notify you of this.

    Please note that if a bid is placed within 60 seconds of the lot’s closing time, an additional 60 seconds will be added. This is known as an extension period. During an extension period, any further bid that is placed will result in the clock re-setting again for a further 60 seconds, giving all registered bidders a fair and equal opportunity to place another bid. This will continue to happen until a full 60 seconds passes with no bids being placed.

  • What is a Bidding Increment?

    A Bidding Increment refers to the amount which you can bid on a property. Our default bid amount is €1,000. This means that €1,000 is the lowest bid you can place, and that you’ll only be able to bid in multiples of €1,000 eg. €2,000, €3,000, €4,000 etc.

    It is possible that a lot will have a different (higher/lower) Bidding Increment. This change will be clearly advertised on any impacted lots.

  • Can I place bids over the phone?

    No; our Sales Days are fully online and we cannot accept bids over the phone.

    However, our bidding technology is compatible with mobile phones, allowing you to place a bid from anywhere in the world with a working internet connection. We have also developed a Maximum Bidding function, which will place bids for you up to a pre-set limit decided by you. 

  • What happens if I have an unreliable internet connection?

    We have developed several features into our online platform to help in this instance:

    Warnings

    Our platform can usually detect when there is a connectivity issue between your device and our bidding system. In such instances we will inform you with on-screen prompts outlining the current connectivity issue e.g. slow speeds, complete loss of connectivity detected etc.

    Maximum Bids

    Our platform will allow you to enter an automatic bid with a pre-set maximum amount that can’t be viewed publicly. The computer will enter bids for you, only as it becomes necessary to keep your position as the winning bidder, and only up to the maximum bid price that you’ve specified.

    If this maximum bid is overtaken, you will be notified via email and can enter another higher bid if you so choose.

    Multiple Devices

    Our platform will allow you to be logged in as a registered bidder on multiple devices simultaneously. This can mitigate the risk of losing broadband connection, or mobile connection.

  • When does bidding open?

    Bidding typically opens on all lots at the same time on the day of the Sales Day. The opening time will be clearly advertised across all lots.

  • When does bidding close?

    Although bidding on all lots usually opens at the same time on Sales Day, the closing time for each lot is different – this time will be advertised on the relevant lot page. Lots can begin to close from 9am, sometimes sooner, and usually follow a staggered closing pattern of one lot every 2 - 3 minutes. Make sure you check your approved lot(s) closing times in advance of Sales Day.

    Please note that if a bid is placed within 60 seconds of the lot’s closing time, an additional 60 seconds will be added. This is known as an extension period and is detailed further below.

  • What is an extension period?

    The closing time for each lot is different – this time will be advertised on the relevant lot page. However, if a bid is placed within 60 seconds of the lot’s closing time, an additional 60 seconds will be added. This is known as an extension period.

    During an extension period, any further bid that is placed will result in the clock re-setting again for a further 60 seconds, giving all registered bidders a fair and equal opportunity to place another bid. This will continue to happen until a full 60 seconds passes with no bids being placed.

    Due to variations in browser and connection speeds, bidders are advised to make a bid with at least 10 seconds remaining on the clock.

  • What is a maximum bid?

    Our platform will allow you enter an automatic bid with a pre-set maximum amount. This is known as a Maximum Bid, and it cannot be viewed publicly. The computer will enter bids for you, only as it becomes necessary to keep your position as the winning bidder, and only up to the maximum bid price that you’ve specified.

    If this maximum bid is overtaken, you will be notified via email and can enter another higher bid if you so choose. It is important to note that once set, a maximum bid cannot be cancelled.

  • I am the winning bidder. What are the next steps?

    You will receive an initial e-mail advising you that you have won with the information related to the Lot (property).

    Likewise, we will put you in contact with the seller so that, according to what is established in the Terms and Conditions of the Sale and the legal information of the Lot (property) existing in the web, you formalize the sale.