Sales channels

The clicktopurchase® platform provides for online execution by a variety of sales channels.

  • clicktopurchase® (private treaty)
  • clicktopurchase® “best offers”
  • clicktopurchase® auction

clicktopurchase® (private treaty)

clicktopurchase® provides a Purchaser with the ability to submit a legally binding offer to treat which, if accepted by the agent on behalf of the vendor, results in an instant online contract exchange.

Should it be decided to progress with a sale by clicktopurchase® (private treaty) exchange, the agent and vendor may decide to offer you a short exclusivity period. Should you fail to exchange within the exclusivity period, you can still submit a clicktopurchase® offer later but you will no longer have exclusivity.

Contract amendments, if required, will be fast and easy by either amendments to the Special Conditions of Sale, or by way of an Addendum of Sale.

Typically, clicktopurchase® sales do not require any contract amendments.

clicktopurchase® “best offers”

Should the agent wish to close a sale by setting a “best offers” deadline, you will need to submit your clicktopurchase® offer by the published time and date. Offers will not be capable of submission beyond the deadline.

clicktopurchase® auction

Should the agent wish to close a sale by running a live online auction, you will need to bid during the live auction at the published time and date. The auctioneer will interact with bidders and close the sale should the reserve be passed. You can of course try to purchase prior to auction by submitting an online clicktopurchase® (private treaty) offer before the scheduled auction.

Traditional exchange

Should it be agreed to sell by “traditional” (private treaty), the parties are able to use the contract suite for fast physical signature of the Memorandum of Agreement.

Contract amendments, if required, can be fast and easy by either amendments to the Special Conditions of Sale, or by way of an Addendum of Sale

Verifying Purchasers

Before a bidder can submit a clicktopurchase® offer, they must first be verified to accord with identity and financial requirements.

A. Identity clearance

A bidder will need to complete an online verification form. 

During this process the Purchaser will be asked to do Two Factor Authentication.  Further information about this can be found here:  https://intercom.help/clicktopurchase/two-factor-authentication-new/two-factor-authentication-at-clicktopurchase

This will generate an email to the solicitor acting on behalf of the Purchaser.

Figure: The verification form to be filled in by the bidder

Figure: The email showing that a verification form has been completed

Figure: The Money Laundering Certificate sent to the solicitor

If the agent has opted for an additional form, specific to a property or a client, to form part of the verification process, this will also be distributed.

When the agent has completed the identity checks, the bidder will see this information displayed in their My Account page and at clicktopurchase®.

Download Money Laundering Certificate

B. Financial clearance

The agent may choose to undertake appropriate financial checks on the proposed Purchaser. This may involve obtaining accounts, references or requesting bank statements. When the agent is satisfied with the verification information supplied, you will see on screen that you are able to proceed.

The bidder is easily able to see the status of their verification and when cleared to submit an offer by clicktopurchase® (private treaty), clicktopurchase® “best offers” or participate in a clicktopurchase® auction.

Figure: Showing Bidder and their verified status

Initial Deposit Option

clicktopurchase® provides the agent with the option to ask a particular bidder to supply an Initial Deposit before being cleared to submit an offer. If the agent makes this selection, you will receive notification. The Bidder’s Initial Deposit is a payment to demonstrate commitment. It will count towards the purchase price should you be successful, or be returned in the event that the property is sold to another party.

Figure: Requesting the Bidder’s Initial Deposit

Figure: Showing what the bidder sees when an Initial Deposit is requested

Submitting your clicktopurchase® offer

During this process the Purchaser will be asked to do Two Factor Authentication.  Further information about this can be found here:  https://intercom.help/clicktopurchase/two-factor-authentication-new/two-factor-authentication-at-clicktopurchase

This is how a bidder makes a clicktopurchase® offer:

Figure: the make an offer form

Having your clicktopurchase® offer accepted

When a bidder submits a clicktopurchase® offer on behalf of a Purchaser (who may be the bidder), an email is generated to all parties confirming the terms of the offer. The terms of the offer are also displayed in the bidder’s My Account page

If the vendor instructs the agent to accept the offer, the following actions occur instantaneously:

  • A binding contract of sale is formed
  • All parties receive confirmation and an electronic copy of the digitally signed Memorandum of Agreement
  • The property is marked as “Sold”

Figure: Email showing an accepted offer

Figure: Memorandum of Agreement

Having your clicktopurchase® offer rejected

A clicktopurchase® offer will expire if the Bid Expiry deadline passes.

In addition, the agent may choose to reject a live clicktopurchase® offer. You will receive email confirmation and a message will appear in your My Account.

Figure: Email showing a rejected offer

Participating in a clicktopurchase® “best offers”

If the agent has selected to close a sale by a clicktopurchase® “best offers”, this sales channel will be clearly displayed.

Figure: Showing a property that has a clicktopurchase® “best offers” sales channel

You will need to submit your offer before the deadline specified by the clicktopurchase® “best offers”.

Closing Date Feature

clicktopurchase® provides a feature to allow flexibility on closing date when submitting a clicktopurchase® offer.

If the vendor wishes to allow the feature to be made available, you can submit an offer with a closing date which may vary from the preferred date proposed by the vendor. If the vendor is prepared to accept the offer with your proposed closing date, this forms a term of the legal contract.

If this feature is not made available, any offer will be on the basis of the closing date or period required by the vendor.

Should a property be sold by a clicktopurchase® auction, this feature is not available.

Figure: The property will allow the bidder the closing date

My Account

The transactional history can be viewed at any time by a bidder in their My Account. This is accessible to them via the widget.

Figure: My Account, available in the widget

Artificial Intelligence Auctions

clicktopurchase® provides the option for "gAbI", our Artificial Intelligence, to operate live auctions.

Your experience as a bidder will be the same as if the auctioneer were the selling agent.

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