Properties Auctions

At M.Y.R. House, we value transparency and trust. Here’s a step-by-step guide to how our property auction process works:

1. Property Submission & Approval

• The auction owner (seller) submits the required documentation for the property.
• Once we review and verify the documents, we approve the property for auction.
• The auction owner must sign an agreement stating that if they cannot provide the property at the end of the auction, they will be liable to pay 15% of the winning bid to M.Y.R. House.

2. Bidding Requirements

• To place a bid, you must create an account and add a valid credit or debit card.
• On your first bid for any property, a $2,000 hold will be placed on your card.
  • If you lose the auction: The $2,000 hold will be released and returned to your card at the end of the auction.
  • If you win the auction: The $2,000 will go toward the final purchase price of the property.

3. Winning the Auction

• When the auction ends, the total amount of the winning bid will be charged to the winner’s card and transferred to our secure system.
• At this point, the auction owner (seller) must supply all required paperwork for finalizing the transaction.

4. Finalizing the Transaction

• Once all the paperwork is verified and completed, the auction owner will receive the full payment.
• The winning bidder will receive ownership of the property, along with all necessary legal documentation.

5. Security & Refunds

• For added security, all transactions are handled through our secure payment system.
• If for any reason the auction owner cannot supply the property after the auction ends, they will be held liable for 15% of the final bid amount.