Yes. We offer online bidding during our onsite auctions. You can bid via BangAuctions.com or on our mobile app downloadable from the Apple Store or Google Play.

First, you need decide how you are going to pay for the asset. If no financing is permitted, you will need to make sure you have the cash available to make the purchase.  If you are getting a loan to purchase the property, then you should immediately work with a lender and get a prequalification letter.

You should get a professional opinion on the value of the property from your real estate broker/agent or discuss the value with an appraiser. You can also find value information on third party real estate sites like Zillow and Loopnet, but we strongly recommend discussing this with a real estate professional.

Set a range you are willing to pay for the property.  Maybe decide on a low price (a steal), a medium price (a great deal), and a high price (still a good deal but your top price).

Being prepared prior to the auction will make you more confident and successful in your bidding.

In addition to your high bid amount, there are two other costs to consider when purchasing a property at auction: an auction fee and closing costs.

Auction Fee:

You will pay either a Buyer's Premium or a Minimum Auction Fee—never both.

• Buyer's Premium: Typically 5% of the winning bid.
• Minimum Auction Fee: A flat fee listed in the property's details.

Each property specifies which type of auction fee applies, so be sure to review the property listing before bidding.

Closing Costs:

Closing costs are separate from the auction fee and are a standard part of most real estate transactions. These costs vary by property and location and are not determined by Bang Auctions.

On most properties you can make a pre-auction offer. Bang Auctions or its affiliated broker can prepare the offer or you can have your broker/agent submit the offer. If you are considering making a pre-auction offer, we suggest that you make it your highest and best offer to give it the best chance of being accepted by the seller. If the property is already headed to auction, the seller will most likely not consider any “low ball” offers.

The reserve price is a confidential number, but once the reserve price is met, the listing will indicate to the public that the reserve price has been met.

If you are the highest bidder on a property at the end of bidding and the reserve price has been met, you will be contacted, and you should receive a purchase agreement to sign via email. The purchase is not fully approved until the purchase agreement is executed by the seller. If you are the highest bidder for a property and it did not meet its reserve price, the seller has the sole and absolute discretion to review all offers and accept or reject any of those offers. The seller is not obligated to negotiate with the highest bidder or give any special rights to that bidder.

Unless otherwise stated on the auction listing, the seller will pay any back taxes, liens, and clear any title-related issues on the property.

Unless otherwise stated, the seller will convey insurable title to the buyer upon closing; otherwise, the buyer has the right to cancel the purchase with a full return of their deposit.

Bang Auctions sometimes will sell a property where the property will be transferred via a quitclaim deed. The seller will not be guaranteeing insurable title. These terms will be clearly defined in the listing. With these sales, the buyer will assume all back taxes, liens, and closing fees. We suggest you order an independent title search to verify that there are no title or lien issues with these listings.

For occupied properties, lockbox access is not available.

Some auctions will have scheduled open-house events, you will need to complete any inspections during those scheduled times.

Some occupied properties have stipulations that prevent them from being seen prior to auction and require the bidders to bid without having first seen the interior of the property. The occupant should not be disturbed! Buyers and their agents should not trespass on the property prior, during, or after the auction. You can only view the property from the street.

Yes, if you purchase an occupied property, you will be responsible for making arrangements with the occupant or evicting the occupant. The information we have on the property will be listed or attached to the auction listing. If changes arise, or new information is obtained prior to the auction, Bang Auctions will notify bidders with an email. Make sure you have registered on our site to be updated on a specific auction and all future auctions.

Any information we have on the property will be listed or attached to the auction listing. If changes arise, or new information is obtained prior to the auction, Bang Auctions will notify bidders with an email. Make sure you have registered on our site to be updated on a specific auction and all future auctions.

Ohio House Bill 390, which became law on September 28, 2016, authorizes a new process for the sale of real property in a foreclosure. ORC § 2329.152 authorizes such sales by a “private selling officer.” This new term is defined as “a resident of this state licensed as both an auctioneer under Chapter 4707 of the Revised Code and as a real estate broker or real estate salesperson under Chapter 4735 of the Revised Code.” Per ORC § 2329.01(B)(2), under the new provision, a judgment creditor (not just a mortgagee) can file a motion to request that a specified private selling officer (“PSO”) be authorized to sell the real estate. ORC § 2329.152(A). The sheriff will still obtain the appraisal, but once that is done, the PSO shall advertise and sell the real estate. ORC § 2329.152(A)(2). The provisions authorizing the use of PSOs instead of sheriffs to conduct judicial sales apply equally to both residential and commercial property foreclosures. A PSO may market and auction the real estate, either online or at any physical location in the county in which the real estate is located.