What is Bidup about?

Bidup is an online auction platform for real estate assets for sale or rent. It is an alternative and complementary channel to existing ones, but much more transparent, simple, fast and cheap.

TO SALE OR TO RENT REAL ESTATE ASSETS THROUGH AN ONLINE AUCTION

What do I have to do to create an auction?
What obligations do I incur when creating an auction?
What are the advantages of selling or renting a property through an auction platform such as Bidup?
How does Bidup help me sell or rent my property?
What is the launch price, the minimum price and the price of immediate allocation?
What is the auction period?
How can I know how much my property is worth and at what price can I auction it?
Who makes the photos so that the property appears better in Bidup?
What documentation is necessary to create an auction?
What happens at the end of the auction?
What guarantees does Bidup offer throughout the process?
How much do Bidup services cost?
Do I have to pay something if there is no bid for the minimum price, or higher?

Once registered, click on “Create auction” or “Auction” in the main menu and follow the indicated steps. It is very simple. It is very important that you only create auctions of real estate assets of your property or over which you have a legal power to do so (for example because you are the insolvency administrator of a company in liquidation) because otherwise you will be able to incur legal liabilities of which Bidup Technologies, S.L. will not be responsible in any case

When you create an auction, you are bound to the following:

  • Identify yourself
  • Provide accurate and updated documentation
  • Pay Bidup fees
  • Respect the exclusivity of commercialization of the asset since you sign the auction contract until, at the end of the established auction period, we give you the private sale contract signed by the successful bidder or we inform you that there are no bidders, either because there has not been bids or because those that have been there have not accepted the award of the auction
  • Respect the conditions of use of the BIDUP platform that are available at the bottom of the homepage of www.bidup.es
  • It is a channel that generates more publicity and visibility and, therefore, as there is more competition it is expected to get a higher sale or rental price
  • It’s faster, negotiation times are saved
  • you avoid offers to the downside
  • save on commissions to pay
  • It is transparent: you can know the status of the sale or rental operation at all times

All the operations carried out in the BIDUP platform will be registered in a blockchain service platform that offers operational and legal security to the actions carried out: when creating the auction, when bidding for the auctioned good and in the acceptance of the award of the auction.

Bidup Technologies, S.L. puts at your disposal the Bidup online auction platform, helps you in the whole creation process of the auction, offers you the possibility of registering the auction on a blockchain service platform to provide it with more legal and operational security and makes you a personalized online marketing plan to get bidders.

The launch price is the starting price of the auction. Nobody will be able to bid under it. The minimum price marks the level at which you reserve the right to accept bids or not, that is, below that price you do not have to accept, but you can do it, if you wish. The immediate award price is the price at which you have to accept the sale immediately, paralyzing the auction process at that moment. You do not have to establish it, but you can do it as a claim.

It is the period of time that you establish to accept bids for your property. You must define a start date and an end date. Outside of that period, any offer you receive will not be included in the terms of use of the BIDUP platform and, therefore, will not be available to us for all purposes.

The decision regarding at what price to auction your property is yours and will be influenced by your personal circumstances or strategic decisions.

You must provide us with the graphic and documentary documentation of the asset to be auctioned. Once we have the documentation, we select the photos that we understand that can best attract potential buyers, and add them to the auction documentation.

At least one image, the private contract of sale or rental that you want the winner of the auction to sign and an updated simple register note (maximum 3 months old).

At the end of the auction period, we identify the winner of the auction (the one who has made the highest bid, always above the minimum price established) and we send the private contract of sale or rental (as appropriate) that has provided us the creator of the auction to sign it and accept to register its acceptance in the blockchain service platform.

Once signed and registered in the blokchain service platform, we send you the contract so that you can get in touch with the successful bidder and agree on the date and place of the signature of the public deed. At that time we will also require you the payment of our success commission, as stated in the service contract that you have accepted at the time of the creation of the auction.

Bidup intervenes and supervises all the operations within the platform. In addition, it makes available to the creators of the auctions the possibility of certifying these in a blockchain service platform. Whether certified or not, what Bidup does obligate is to certify the bids and the acceptance or not of the awarding of the auction. Therefore, Bidup monitors:

  • The process of creating auctions
  • The process of entering bids
  • At the conclusion of the auction period, the order of the bids according to the preference in the award of the auction
  • The management of the acceptance or not of the awarding of the auction, that is, of the signature and acceptance of the private contract of sale or rental
  • The management of the collection of the penalties included in the conditions of use of the platform and contemplated for the winners of the auctions that do not accept to receive the auction and sign the private contract of sale or rental

In the case of real estate sales auctions, we charge € 150 (VAT included) at the moment you create the auction. This payment is not refundable and is in concept of use of the platform and the value added services we have described above.

In case of success, that is to say, if the signature of the private contract of sale is made by the successful bidder, Bidup Technologies, S.L. will charge 2% of the sales price as a commission of success.

In case of rental auctions, we only charge the upfront payment of € 150.

Only € 150 of use fee for the platform.

ACQUIRE OR RENT A PROPERTY IN AUCTION

How can I participate in an auction?
How is my identity guaranteed (or those of other bidders / sellers)?
If I am the winner of an auction, what should I do?

The first thing you have to do is register with all the information we request. The data must be true. The data that you add will be registered in our platform in an immutable way, thanks to the blokchain service that we have incorporated, so that, if you have cheated us, they have probative effect before any judicial claim on our part or on the part of the creator of the auction. At the same time, this blockchain service acts as a guarantor of your actions: no one will be able to change a comma of the actions you have taken, nobody will be able to modify your bids or your data.

Once registered, you can bid for the assets whose auctions Bidup Technologies, SL is managing. Within our platform there are auctions of which we only inform and that, when you click on bid, we will direct you to the website of the owner or manager where you can make your offers. In the case of the auctions that we are managing at Bidup platform, you will be able to place your bids within the platform with maximum comfort and security, in accordance with the conditions of use that are available at all times on our website. In this sense we must point out that if you make a bid and are the winner of the auction, either for being the highest bid or waiver of those that precede you, you must sign the private contract of sale or rental, as appropriate, of the auction for which you have bid. If after 5 days from sending the contract signing requirement you do not do it, you will lose the status of the auction winner and we will penalize you with the amount of € 1,000 – as stated in auctions conditions – . This amount will be charged directly to your card.

You are responsible for the identification data you provide us through the data we request for registration:

  • ID or identification document
  • Contact information: mail / phone number
  • Name and surname
  • The usual data to make payments (card number, cvv code, expiration date)

Basically two things, which we will remind you by mail to the email that you have given us when you register / put your bid:

  • Sign and accept within 5 days the private contract of sale or rental
  • Register your acceptance in the blockchain service platform, which you can do by just clicking on the url that we will send to your email address and follow the simple instructions at the blockchain platform

FEATURED SECTION

What is the section of assets or properties in auction highlighted?
What can I do with an asset that I want to add to the Highlights section and what are the advantages?

They are real estate in auctions processed in other public platforms, for example the BOE, but that, for whatever reason, for example because it is a good that you are seizing, you want it to have more visibility in order to obtain more purchase proposals and, with this, contribute to the higher auction price or award.

  • You can add color and personalized photos of it, making it more attractive
  • You can add a personalized description of the property
  • It will appear first in the search results that establish criteria matching the asset

Registration

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