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 Failure to complete buying a winning auction bid, What happens?

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serdangonline
post Jun 22 2023, 10:38 AM

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Joined: Jan 2009
QUOTE(mushigen @ Jun 22 2023, 10:35 AM)
Do bidders need to come out with any money (or deposit, for example) when bidding or after winning a bid?
Will they lose this money if they fail to complete the transaction?
*
When bidding, you need to prepare bank draft 10% of the auction price. After you win the bid, if you cannot complete the process within the required time provided, the 10% deposit will be forfeited.

 

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