FAQ
Frequently Asked Questions
Find answers to common questions about AcreBid land auctions, no-reserve bidding, due diligence, payment, closing, deed recording, and what to expect after winning an auction.
Are AcreBid auctions no reserve?
Unless otherwise stated in the individual listing or auction terms, AcreBid auctions are offered with no reserve, meaning the property is available to sell to the highest bidder under the published auction terms. Buyers should carefully review each property listing and auction terms before placing a bid.
Can I visit the property before bidding?
Yes. Buyers are encouraged to inspect or visit the property before bidding whenever possible. AcreBid provides available property information online, including exact property coordinates when available. Buyers can also use the map feature on AcreBid to help locate the property and review its surrounding area. However, buyers are responsible for completing their own due diligence before placing a bid, including verifying access, boundaries, zoning, utilities, property condition, permitted uses, and any restrictions with the appropriate county or local agencies.
Are properties sold as-is?
Yes. Unless otherwise stated in the listing or auction terms, all properties are sold as-is, where-is, with all faults. AcreBid encourages every buyer to review the property details, conduct independent research, and ask questions before bidding. A bid should only be placed after the buyer is comfortable with the property, the auction terms, and the results of their due diligence.
What happens if I win?
If you are the winning bidder, AcreBid will send you instructions for the next steps after the auction closes. This typically includes an invoice, wire payment instructions, and the documents required to complete the transfer of ownership. Buyers must complete and return all required documents and submit payment within the required deadline.
How much time do I have to pay?
Winning bidders have 5 days to submit full payment, unless a different deadline is stated in the specific auction terms. Buyers should review the payment instructions carefully before bidding. Failure to submit payment on time may result in cancellation of the sale and possible default consequences under the auction terms.
Who handles closing?
AcreBid prepares and records the grant deed using the buyer name or company name provided in the ownership transfer documents. Buyers are responsible for providing accurate information for deed preparation, including the correct vesting name, mailing address, and any required ownership details.
Is seller approval required?
No, unless otherwise advertised. Most AcreBid auctions are no-reserve auctions, meaning the property is available to sell to the highest bidder under the published auction terms. If any auction is subject to seller approval or special conditions, that information will be stated in the listing.
When do I receive the deed?
The deed is typically prepared, signed, and submitted for recording after the buyer completes payment and all closing requirements. Recording times can vary by county, but deeds are usually recorded within about one week after payment is received. Some counties may take longer depending on their recording process and workload.
Can I finance the purchase?
No. AcreBid purchases are cash only unless a listing specifically states otherwise. Buyers should have funds available before bidding and must be able to complete payment within the required deadline.
What due diligence should I do before bidding?
Before bidding, buyers should independently verify all important property information. This may include parcel boundaries, legal access, road access, zoning, permitted uses, utilities, property taxes, liens, HOA or community restrictions, flood zone status, environmental conditions, building requirements, and any county or city rules that may affect the property. AcreBid provides available information to help buyers evaluate listings, but buyers are responsible for making their own purchasing decisions.
Important Buyer Notice
All information provided on AcreBid is for general informational purposes only and should not be relied on as a substitute for independent due diligence. AcreBid does not guarantee zoning, buildability, access, utilities, future use, property condition, development potential, or any specific use of the property unless expressly stated in writing. Buyers are responsible for verifying all property information before bidding.