Instead, they are simply a way for sellers to advertise their property and meet potential buyers. At the close of the auction, the seller should contact the winning bidder to discuss entering into a contract for the real property. However, neither party is obligated to complete the property transaction. This type of transaction is called a Non-binding Auction.
What is a Non-binding auction?
Non-binding auctions of properties do not involve binding commitments by members to buy and sell property. Instead, these "auctions" are simply a way for sellers to advertise their properties within the auction-style environment familiar to eBay's members. At the close of the auction, the seller is expected to contact the high bidder to discuss entering into a contract for the real sale of the property. Neither party is obliged to complete the transaction.
The purchase and sale of property is a complicated matter that is often governed by local and international laws. You are strongly advised to seek the help of a professional estate agent and/or a conveyancing solicitor to help you in the negotiation and sale of any property.
Please note that eBay fees for property transactions are different to typical eBay transactions. All property listings are charged a flat £35 listing fee. There is no final value fee for property auctions.
These rules apply only in listings of properties on eBay. In the case of actual property auctions, if these rules conflict with eBay's User Agreement, these rules apply.
Additional Information
Privacy of Information
Sellers must treat buyers’ contact information in full compliance with eBay's Privacy Policy. This policy prohibits sharing the buyer's information with third parties as well as use of the buyer's information for any purpose other than communicating with the buyer about the item, unless expressly permitted to do so by the buyer.
Why does eBay have this policy?
eBay wants to ensure its sellers and buyers comply with all governmental laws and regulations. Since the sale of property is regulated, or may cause harm to eBay or its members, such sales on eBay are restricted.
Activity on eBay is required to follow this policy, the eBay User Agreement and all applicable laws, as well as respect the rights of third parties. If it doesn’t, eBay may take action consistent with applicable laws and the eBay User Agreement, and may even be legally required to do so. Such actions may include, as an example only: Removing the listing or other content, issuing a warning, restricting activity or account suspension.