Buyers

Auctioning Your Luxury Property With Interluxe: A Modern-Day Real Estate Solution

Buyers FAQs

Buyer FAQ’s

Click the questions below for the answers about purchasing a property with Interluxe:

Registration/Pre-Auction

  • What is the purpose of registration?

    Registration allows you to save properties in your watchlist, sign up for auction alerts, register to bid on an auction., as well as access certain restricted features of the site.

  • What if I can’t preview a home during the prescribed times?

    No problem, contact the designated Property Specialist or click the View this Home link to schedule a time to view it outside the normally scheduled preview times.

  • What does it mean to buy the property “As is, Where is”?

    Buyers purchase the property with no guarantees in regards to the condition of the property. Buyers shall rely entirely on their own information, judgment, and their inspection of the property. We invite you and your experts (i.e. contractors, engineers, inspectors, surveyors, land planners etc.) to inspect the property by appointment as many times as you would like (during our viewing times and dates). We want to provide you with ample access to help you assess the available property. Please contact the designated Property Representative for questions regarding the property or to make arrangements.

  • Can I conduct inspections after the auction?

    Yes, however the properties offered on Interluxe.com are offered without contingencies and are not subject to inspection. Often times Seller’s provide inspections along with other due diligence that can be accessed in the Documents section on the property page. In order to view this documentation you must purchase a Due Diligence Pass.

  • Will I have access to due diligence?

    Yes, you will be able to access due diligence in the Documents section of the property page. This section contains due diligence that the Seller and/or Agent has prepared to help you make an informed decision about the property. This information may include but not be limited to items such as a home inspection report, termite inspection, area information, purchase contract, and terms and conditions of sale.

  • What does the Auction Manager do?

    Each property will have a dedicated Auction Manager who will be able to answer questions and assist with functions of registration for the auction, wire transfers, document collection and contracts.

  • What does the Property Specialist do?

    A Property Specialist may either be the Seller, an agent of the Seller or an authorized representative who will be able to answer all questions regarding the specifics of the property. Property Specialists are also able to schedule showings outside the normal preview times as well. *Note - Property Specialists are not agents of Interluxe.

  • Will I need to show proof of funds before I can bid?

    You will not need to show proof of funds. However, you will need to provide a credit card pre-authorization or hold for the required registration amount prior to being authorized to bid. We do not charge your card, we merely place a temporary authorization to hold funds. If you are not the winning bidder this hold is released. For more information please see the Terms and Conditions for the property you wish to bid on.

The Online Auction Process

  • How do I register to bid on a property?

    To register to bid on a property, simply click on the Bid on This Home button on the property page. You will be prompted to login, or if you have not yet created an Interluxe account you will be prompted to do so. After you create an account you may click the Register button in the bidding information box on the property page. You will be required to accept the Auction Terms & Conditions as well as provide a credit card for the pre-authorization amount. This pre-authorization is released within 48 hours after the auction if you are not the winning bidder. Upon completing checkout you will be able to place bids on the property. If you have further questions or need assistance, please contact the designated Auction Manager.

  • Can I use the services of a Real Estate Broker to assist me?

    Interluxe welcomes broker participation. All you have to do is have your broker contact the designated Auction Manager and we will provide the Buyer Broker Registration Form.

  • Are there different formats for Interluxe auctions?

    Yes, Interluxe offers a variety of different types of auctions such as reserve auctions, sealed bid auctions, and absolute – no minimum, no reserve auctions.

  • Can I bid on multiple properties at once?

    Yes, you will need to register individually for each property and make a separate bid deposit for each auction you wish to participate in.

  • What is the Buyer’s Premium?

    The Buyer’s Premium is an amount that is added onto the high bid to arrive at the total contract price for the property. Buyer’s Premiums vary from auction to auction so please see the Terms & Conditions of each sale to determine what amount applies.

  • What if my bid does not win?

    If your bid does not win, the pre-authorization on the credit card you provided during the checkout process will be released. Please allow up to 48 hours for this to process. If you have questions pertaining to the status of a releaese of your pre-authorization, please contact the designated Auction Manager.

  • Is financing offered?

    Depending on the property, the seller may elect to offer a financing contingency provided a buyer utilizes the preferred lender. Please see the Auction Detail Page for the property you are interested in for more information and whether a financing contingency may be available.

Closing Process

  • What Title evidence will the buyer receive?

    The seller will provide a preliminary title insurance policy on the property purchased and closed in accordance with the terms and conditions of the Interluxe Purchase & Sale Agreement.

  • When can I take possession of my new property?

    You may take possession of the property any time after closing.

  • What documents will I need to complete?

    The title company and/or closing attorney will provide any documents necessary for closing.

  • What is the earnest money deposit?

    The earnest money deposit is the amount due within 24 hours after the close of the auction to be held in a non-interest bearing escrow account until closing. This amount is generally 10%. Please see the Auction Terms & Conditions for additional information.

  • How do I submit the earnest money deposit?

    At the conclusion of the bidding, the Auction Manager will forward you the wire transfer instructions so that you may wire transfer the required earnest money deposit. The purchase agreement will also contain the information for the Escrow Agent who will be holding funds. If you need assistance, please contact the designated Auction Manager for the property you wish to bid on.