Online Selling Process (Online Auction)

Form 90210-OSP online auction



  Register to Sale  

To become a "seller" you must first fill out the online registration form and select "selling" as your particular interest. You will need to provide your personal name or company name and contact information; once we receive your information it will be verified, encrypted and stored into our internal database.  Once your information is on file a confirmation will be sent to you via the email which you have provided.  This process can take up to 24 to 48 hours.  Once you have been entered into the system on occasions you will receive updates and news articles that may pertain to your interest. We collect and monitoring data from syndicated networks, online news channels, press releases, blogs and forums to better serve both buyers and sellers. This information is provided to IQ members free of charge. Some of the articles gathered may have a positive or negative impact on your decision making process and pricing schedules, but we leave that up to you or your company to decide. 

Example 1:  A news article may state that an international airline carrier will begin daily direct flights to a location nearby the asset you have for sale on the IQ bidding platform.  If we come across such article it will be sent to you via our automated alert system and it will be left up you and or your company to confirm and to further explore the potential impact of such announcement. 

Example 2:  A news article stating incentives or tax benefits that a government or agency has passed that may have a positive or negative impact on the asset you are selling. This article will be sent to you via our automated alert system and again, it will be left up you and or your company to confirm and to further explore the potential impact of such announcement. 

Example 3:  A news article that presents graphical data showing the supply and demand of certain materials, products or patents that relate to the asset you're selling.  This article will be sent to you via our automated alert system and it will be left up you and or you're company to confirm and to further explore the potential impact of such announcement. 

  Launch a Customized Online Auction Plan  

Every asset being offered on the IQ bidding platform greatly increases its chances of selling by having a customized plan and high-end presentation. IQ team members assist in mapping out customized auction plans specific to your asset to help you gain the most amounts of exposure and in the least amount of time as possible. The IQ platform alone will present your asset like no other "online" or "offline" auction platform, yet it is imperative that when selling high-valued assets that attention be given to every single detail, including how your asset is presented and to whom and in what format. Our customized auction plans are "PRO ACTIVE" and are designed to reach qualified buyers around the world, many of which are buying assets on line just like yours. Each plan will vary depending on the asset type and will be designed to yield maximum results. To learn more about IQ customized auction plans and their associated fees, contact us and an IQ team online auction member will assist in determining your needs.

  Online Auction Fees  

A seller is required to pay for a customized online advertisement plan and online auction press strategy that is designed to reach the most amounts of qualified buyers and in the least amount of time as possible. The goal of IQ is to save the seller money and un-necessary advertisement cost when selling the asset online, this is accomplished by the use and understanding of cutting edge marketing and online auction technologies. An engagement fee is minimal and is paid at time of sale.

  Buyer's Auction Premium  

A miniumal buyer's auction premium is automatically added to the “final bid price” and is paid by the successful bidder.  Buyer's premium may vary from time to time, but must be paid during the purchasing period. Each auction premium is displayed on the “more info” page of each asset. 

  Chat with Seller  
If a buyer has a specific question related to the seller’s asset, the buyer is able to contact the seller through our online online auction chat LIVE interface. Our auction chats are in real time and the seller is able to respond at any given time and from any geographic location. Our chat console has the ability to interface with the seller’s computer, iphone and other hand- held devices .The auction chat typically goes LIVE after the bid registration period and remains LIVE up to the final count down of the online auction. The auction chat is an optional service offered to the seller and it is left to the seller’s discretion to register for this added online auction feature. A record of the auction chat is property of the seller and is discarded from the IQ auction database 14-days after the winning bid. The purpose of the chat is to provide general answers to general questions and it is not to be used as a tool to negotiate with the seller, nor to gain additional information outside of the information that the seller has provided.  
  The Reserve Price  

All sellers begin with a reserve price which is considered a buy now price, the seller has the full discretion to accept a bid that is offered higher or lower then the reserve price during the bidding period, but the seller is not able to increase the reserve price once the bidding begins.  Should the seller withdrawal the asset from the bidding platform during the online auction period the seller is subject to pay an a fee to IQ team Holdings, LLC.   This policy is a mechanism designed to maintain the integrity of the online bidding process.

Track Offer (Bid Alert)  

All sellers will have the option to be notified in real time when a bid is placed during the auction.  This real time notification is provided as an extra feature and is activated upon the sellers request.  A notification of a new bid is provided to the seller and alerts the seller through phones with distinctive ring tones.  The new auction bid alerts are also provided by email to the seller in real time, but can very depending on connectivity and speed of online delivery.   The bid alert service is an optional service provided to the seller and requires a modest fee to configure.  The alert service must be arranged prior to the beginning date of the auction.

  Purchasing Period  

The winning bidder is required to pay a 20% certified down payment of the final bid price within 24-hours from the sellers notification of acceptance.  The buyer will be required to pay the full balance to include the buyer’s premium within 30-days from the seller's notification date.   Should the buyer not provide the full payment within the purchasing period, the 20% paid by the buyer is forfeited to IQ Team Holdings LLC.   If a payment is not paid in full by the winning bidder, the bidder will be removed from the bidding database and will be considered a non qualified bidder.  This online bidding policy & procedure is designed to protect the integrity of the online auction and bidding process. Prior to submitting bids, all information pertaining to the asset being offered by the seller is the responsibility of the bidder to confirm.  This includes video, pictures, location, description of the property, details, values, size, square footage and all other related data presented by the seller and displayed on the online auction bidding platform.

  Viewing & Inspection Period  

A viewing and inspection period is often made available by the seller and with the seller when applicable. This is done in effort to support the buyer’s interest, this enables the buyer to verify and inspect the condition of the sellers asset and other relative information that has been provided. All assets are sold "as is" and "where is" and it is the sole responsibility to the buyer to confirm that all supporting contents and data offered by the seller or displayed on IQ online auction bidding platform are accurate. Any possible misinformation or errors displayed on the IQ online auction bidding platform are not the responsibility of IQ Holdings LLC.

  Copyright of IQ team Holdings L.L.C.  

IQ team holdings L.L.C. reserves the right to make alterations or improvements to the online auction bidding platform, policies & procedures, content, and forms when deemed necessary. Any policy & procedure changes made to improve the online auction and bidding experience shall not take effect after the bidding registration period has ended. All contents and  information contained on the IQ bidding platorm  has been colormarked, coded and may not be reproduced, modified, altered or used for any other purposes whatsoever. The methodology, coding and programming found on the IQ online auction bidding platrom and is owned and is copyright pending and is registered to IQ team holdings L.L.C.



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