Beginner’s Guide

User Registration

In order to view and participate in the auctions at IOB.ForeclosureIndia.com, one  need to  register  in  IOB.ForeclosureIndia.com.

You can use the register link provided in the home page to register.

The Basic Information required to register at IOB.ForeclosureIndia.com are:

1.Username

2.E-Mail

3.First Name

4.Last Name

5.Alias (This is the name Displayed to others)

Other Required Information are:

1.Phone No

2.Address

3.City

4.Country

5.Pincode

 

Company Details:

If you are participating on behalf of a company/organization etc … Please fill out these details also.

If you are participating as an Individual these fields can be left empty.

1.Company Name
2. Your Designation
3. Company Address
4.Company Country
5. Company City
6. Company Pin code
7. Phone No
8. Business Type
9. Website
10. Fax No

Please keep in mind that all the information provided should match the information provided in the tender form and the identity proofs submitted along with the tender form. Only then,  you will be able to participate in the auction.

Once submitted,  this data cannot be edited by you.

On completing the registration,  you will receive an activation E-Mail from IOB.ForeclosureIndia.com.  Click on the link to activate your account. Once your account is activated you will receive your password by email. Which you can use to login.

Bid Submission

In every e-auction listed at IOB.ForeclosureIndia.com you can see    button. Just click on the link to submit you bid.

The details of the bid are split into four parts

1.Bidder Details

The details of the Bidder such as Name, DOB, Address, Contact Details, etc.

The details provided here should match the information submitted at the time of registration. If any changes are to be made in your profile you can contact us here.

2.Documents

Please ensure that you have soft copies(Windows, Android) of your ID Proof, Address proof, Documents authorizing you to place the bid and participate in the auction (If you are bidding on behalf of a company/firm) and EMD payment receipt (if available) in PDF/PNG/ jpg format for submission of bid.

3.Auction & EMD Details

Here you enter the details of the auction you wish to place a bid for such as the the listing ID, Bank Account details where EMD was submitted, EMD submission date and your quote for the property.

4.Refund Details

Enter the bank account details into which the EMD is refunded into if you are not the qualifying bidder via NEFT/RTGS.

In cases, when you are asked to submit the hard copy of the bid you can download the printable version from the  link.

Participating in EAuction

20-30 min before the auction starts, you can see the Go to auction Button button, click on the button to go to the auction page. You can view and place your  bid  as shown below.

Demo Auction - IOB.ForeclosureIndia.com

Once you place a bid, if you are the current highest bidder you will receive  notification email.

If somebody else outbid you in the auction,  you will receive an email alert.

If you are the highest bidder,  when the auction closes,  you will receive an notification email confirming you as the highest bidder.

(Note: In some auctions you may have to wait till the Bank Authorized Officer and/or Recovery officer, DRT confirms the highest bid as the winning bid.)

Once you receive the conformation email please follow the instruction in the e-auction sale notice.