How can I bid in an auction held by a bank?

There are three easy steps to participating in a bank auction:

1.Regarding eaction India Select the property of your choosing, then click the link on the page to go to the e-auction website and register..

2.Once you have registered on the e-auction website, pay the bank the Earnest Money Deposit (EMD) amount and submit the required documents as instructed. For the EMD to take part in the auction, the payment must be made before the registration deadline..

3.On the day of the auction, place a bid for the property.

How can I place a bid on a property at auction?

Once the necessary paperwork has been properly submitted and the Earnest Money Deposit (EMD) has been paid, take note of the date of the auction that will be listed on the e-auction website. Next, visit the site on the specified day and submit your bid, starting at the Reserve Price. As many times as you choose, you can increase your bids progressively based on the designated "Bid Increment Value.".

Is it possible for me to withdraw my bid?

No, you are unable to withdraw a bid after you submit it..

What websites host the online auctions?

EAuction India websites are approved third-party auction platforms that oversee auctions on behalf of banks.

Which paperwork must be turned in in order to bid in an auction?

Submission of the Pan Card, Annexure 3/Declaration Form, Annexure 2/Details of Bidder, and Proof of Address is mandatory.

How much is the reserve price?

The bank sets a minimum price known as the reserve price before a property is put up for auction.

How much is the EMD?

The deposit money needed to participate in bank auctions is known as the Earnest Money Deposit, or EMD. Typically, the sum equals 10% of the Reserve Price.

An Auction Notice: What Is It?

It's the notice from the auctioning bank with all the pertinent auction information.

How can I find a property?

Users of EAuction India have the option to search for a property by category, city of residence, kind of vehicle, or even by the bank holding the auction. Use the Search Box on the home page to enter your query, or perform an Advance Search if you want to access a specific auction. You can conduct a search using the Advanced Search by entering the borrower or company name, the lowest or maximum price, or a date period.

How can I get the most recent information on upcoming bank auctions?

You have two options on the listings page: click the push notification to get fast notifications when there are any new updates, or subscribe to receive updates via email.