Buy Your Future Home At a Wahi Auction¹
Take control of homebuying. Know where you stand during the entire bidding process.
How Auctions Work
Follow these simple steps to get started.
Create a Wahi account
Schedule a showing
Book some time to visit the listing during the showing period. You or your Realtor can book the showing online. If you don’t have an agent, a Wahi Licensed Expert can help.
Get pre-approved to bid
Before the auction begins, you need to get pre-approved to bid. Get in touch with a Wahi Licensed Expert via chat, email or phone to get verified. A mortgage pre-approval will help you get registered faster. If you are still looking for a mortgage, get in touch with our mortgage partner, Rocket Mortgage or call us at 1 (833) 924-4929.
Register to bid
Log into your Wahi account and register directly on the listing page. There is no cost or fee to take part in a Wahi auction, but you must be pre-qualified to register.
Place your bids
You will receive an email notification when the auction goes live. Once the auction is live, you are able to bid on the listing. You can bid yourself, or set up an auto bid.
Complete the sale
Once the auction is completed and the reserve price is met, Wahi will contact the highest bidder to finalize the contract and arrange for a 2.5% deposit to be collected. If the reserve price is not met, the seller can withdraw or negotiate with the highest bidder.
FAQs About Wahi Auctions
Where and when does the Wahi auction take place?
Wahi auctions are 100% digital – meaning they all take place online. You will find the date and time of any upcoming auction directly on the auction listing on our website.
Why do I need to create a Wahi account?
You cannot bid in an auction without an account. We require all participants to sign up for a Wahi account, get pre-approved, and register for the auction.
Why do I need to be pre-approved before bidding?
A mortgage pre-approval will help you get registered faster, so have your documents on hand. If you are still looking for a mortgage, get in touch with our mortgage partner, Rocket Mortgage.
What is the Buy Now option?
Our Buy Now option allows you to purchase the home for a set price during the showing period before the first bid, as long as you are approved for the asking price.
Can I bid on my own or do I need a realtor?
You can do both! If you have a realtor, they must request to bid on your behalf before the auction.
What is an auto bid?
With auto bid, you can bid on a property without having to sit and wait in front of your computer. To set up an auto bid, select the maximum amount you’d like to bid for the auction and we’ll take care of the rest. When it’s your turn to bid, an increment of $2500 will be added on top of the previous bid. This will continue until you’ve reached your maximum amount.
What is the reserve price?
The reserve price is the minimum listing price that must be met in order for the auction to be a success. The reserve price is set by the seller.
What happens when the reserve price is not met?
If the highest bid falls short of the reserve price, then the seller isn’t obligated to go through with the sale. They can either decide to sell at a price lower than the reserve price, put the home back on the market, or negotiate with the highest bidder to see if they can reach an agreement.
Can I continue bidding once I’ve reached the maximum auto bid amount?
Yes, you are able to continue bidding up until your approved amount. If you’ve reached your maximum approved amount, you will have to contact us.
More Ways to Buy With Wahi
When you rather not pay the standard 2.5% agent fee.
Average Cashback on a GTA home
Wahi Full Service
When you want an Elite Partner Realtor® in your corner.
Elite Partner Realtor®
¹ All real estate services related to client representation are rendered by Wahi Ontario Inc brokerage.
Services required to host and facilitate auctions are performed by Wahi Inc.
² Commission savings based on an average home sale price of $1,000,000 and a typical seller commission of 2.5%.