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:
5.Alias (This is the name Displayed to others)
Other Required Information are:
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.
2. Your Designation
3. Company Address
5. Company City
6. Company Pin code
7. Phone No
8. Business Type
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.
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
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.
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.
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 button, click on the button to go to the auction page. You can view and place your bid as shown below.
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.