Unreserved
Back To Home

How to Buy

Buying a home at auction puts you in control. Each home listing features everything you need to make an informed decision. Decide what you’re comfortable paying, get verified, and start bidding.

Steps to Buying

Step 1

Browse our Homes Online

Browse our inventory of homes available for auction. Use the market comparisons, inspection, and home warranty report, to make an informed decision on what you’re comfortable bidding.

View Homes for Sale

Step 2

See the Home in Person

See the property in person. Our team of Property Experts host scheduled open houses, or you can arrange a private viewing. Virtual showings are also available.

Step 3

Register to Bid

Get verified. Before placing a bid, all buyers must submit proof of funds (mortgage pre-approval). This step is necessary to ensure that only qualified buyers participate in the bidding.

Step 4

Bid with Full Transparency

Once the auction starts, you can bid transparently by placing a one-time bid or setting a maximum bid using the Autobid function. If you are outbid, you will receive an instant notification. The default bid increase is $2,500, however bidders can also enter a custom bid amount.

Step 5

Bid Extensions

To keep the auction fair, any bid placed in the last 5 minutes will extend the auction by 5 minutes. This ensures everybody has an opportunity to increase their bid if they wish. 

Step 6

Finalize the Sale

Once the hammer drops, the auction is over and the highest bidder receives a call from one of our Auction Specialists. The contracts are done up right away and sent to the buyer and seller’s lawyer. We will then collect a 2.5% deposit and hold it in trust until closing.

Buyer FAQs

Who is Unreserved?

Unreserved is an online auction platform for buying and selling homes. Based in Ottawa with a full staff of local professionals, we are bringing complete transparency to every aspect of the buying and selling process. The auction keeps everything fair and equal, ensuring you never overpay for your home. With each bid, you get to decide if you are still in, or if you are out.

How does the online auction work?

Don’t worry, you don’t have to stand on the lawn and raise a paddle. All home auctions happen online at Unreserved.com. If you would like to purchase one of our homes, you need to register to bid. Auction start and end times are posted on Unreserved.com. To keep the auction fair, any bid placed in the last 5 minutes will extend the auction end time by 5 minutes. This ensures everybody has an equal opportunity to counter bid.

How do I register to bid?

It’s easy, go to Unreserved.com, click “Sign Up”, and follow the prompts. You will need to provide your mortgage pre-approval. Unreserved will then verify your account and you will be authorized to bid. There is no transaction fee, or cost associated with bidding.

When should I bid?

You can place a bid any time between the start and end time of the auction.

What if I win?

If you are the winning bid, one of our Property Experts will be in touch right away to close the transaction.

Why is the starting price so low?

“Unreserved” means “not restricted”. We start our auctions low to allow the buyers to dictate the value.

Can my agent register to bid on my behalf?

Absolutely! Your agent can bid for you. If you give up control of your bids to a realtor, we recommend using a progressive agent that embraces transparency. You do not need an agent to bid, and bidding is the same process for everyone.

Still have questions?

We'd love to hear from you.