Terms & Conditions of Use

North American Auctioneers
151 York Street, London, ON N6A 1A8
Phone: 1-877-672-6604
Last Updated: August 14, 2025

User Terms  

North American Auctioneers Ltd. (North American Auctioneers) has agreements with various  individuals and businesses (“Sellers”) to market and advertise certain residential and commercial  Properties. through the North American Auctioneers auction Site (the “Site”). All Properties on  North American Auctioneers Site are offered subject to the Sellers’ approval of the sales price  and final terms and conditions of sale.  

THIS SITE IS PROVIDED ONLY FOR THE USE OF VIEWING AND/OR BIDDING ON  THOSE PROPERTIES LISTED HEREIN AND ANY OTHER USE IS PROHIBITED.  

ALL USERS MUST AGREE TO THE FOLLOWING USER TERMS: 

1. Site Usage 

You agree by using the Site to these User Terms. Bidding requires user registration on the Site.  You further agree to use the Site in a manner consistent with the purpose of the Site. Registration  is necessary to unlock many of the Site’s most useful features; please review How to Bid and Helpful Site Features. You agree as a registered user to not share your user credentials or  transfer them to another party.  

North American Auctioneers bears no responsibility for the condition or value of any Property  listed for auction or ensuring any bid is placed. If it is determined that there was a system issue  that may have prevented a bid from being placed, North American Auctioneers reserves the right  to review all bids and possibly re-open bidding on a Property. This determination will be made  on a case-by-case basis and is at the sole discretion of the company. The intent of North American Auctioneers is to always provide a fair, level, and transparent bidding  environment for our consumer audience.  

2. Online Property Bidding 

If you elect to bid in an online Property auction, you must be registered to do so; however, you  do not have to be registered to view auction Properties, sale documentation, or bids for an online  auction. All bids and closing documents (offer forms) are open and displayed for public viewing  unless otherwise noted. You can bid on Properties either from a properties bid page or from the  current bids link on your account profile page. The current bids area only has abbreviated  information about each Property but is a useful tool if you are monitoring multiple Properties.  

In some cases, you will need to follow the additional specific bid instructions to bid on that  Property. The use of BidAssist, as explained in Helpful Site Features, is highly recommended  when bidding in North American Auctioneers online auctions. This feature allows the computer  system to bid for you up to your maximum bid. It is protection against a last-minute, higher  dollar amount bid that would prevent you from having the winning bid for a Property. Also,  because different computers and mobile devices have different connection speeds, waiting until  the last seconds of an auction to place your bid manually is not recommended. The countdown 

clock on North American Auctioneers should be considered accurate but not exact, and  BidAssist can help ensure your maximum bid is placed before the auction closes. It is highly  recommended that if you intend to place a bid, you should do so early to get a feel for the  bidding process. If you intend to bid on a Property, we strongly suggest that you register at  least 72 hours prior to the close of the bidding, just as a precaution against any potential  registration problems. 

Bid Presentation to the Seller: If bidding for a Property meets or exceeds the minimum  acceptable sales price established by the Seller (the “Reserve”) during the online bidding  process, the Property will be coded as ‘pending’ until the buyer-executed purchase agreement  and deposit funds are received from the winning bidder. At that point, the bid will be presented  to the Seller, and, if that winning bid is accepted, the Property will be coded as ‘sold’ and the  closing process will begin. While the Property is coded as pending and up until the Property is  designated as sold, additional higher bids may be presented. Notwithstanding the above, the  Seller always has the right to a final review of all bids received. The Seller may accept or reject  any bid regardless of whether the reserve price has been met.  

Post Bids: Each North American Auctioneers online auction will run until the initial auction  countdown clock expires, regardless of whether Reserve is met. If the Reserve is not met at the  end of the initial auction, the Property moves into ‘post bidding’. During post bidding, additional  bids can be submitted. Unlike the initial auction phase, bidding in the post bidding phase ends  once the Reserve is met or the Seller accepts a bid, regardless of any time left on the auction  countdown clock. Once an online bidding event concludes, neither the Seller nor North  American Auctioneers is under any obligation to negotiate with any bidder. All Properties will  be sold through post bidding on a “first come, first served” basis by the Seller.  

Highest and Best Offer Process: During the “post bidding” period if more than one bid is  submitted in what is considered an acceptable price range by the Seller or North American  Auctioneers, a highest and best offer round may be held to make sure each bidder receives a fair  opportunity to place their highest possible bid. This process may be utilized even after a Property  is coded as pending. The highest and best offer process will be utilized at Seller and North  American Auctioneers sole discretion.  

Final Approval by Seller: Each Seller reserves the right to have final approval of all purchase  contracts submitted by any broker or bidder, regardless of information provided by this Site, any  broker, or any North American Auctioneers employee or affiliate to the contrary.  

3. Terms of Use 

You shall act with honesty and integrity while on using the Site; otherwise, user privileges shall  be revoked. Each bidder shall review and adhere to the terms of sale for each individual Property  listed on the Site. North American Auctioneers may suspend your account and seek legal  remedies if the North American Auctioneers staff suspects you have committed or engaged in  fraud or fraudulent activities relating to transactions on the Site. Any user making fraudulent bids  on this Site or defaulting on Properties won may be banned from the Site indefinitely without  recourse. 

4. User Eligibility 

North American Auctioneers services are available only to individuals who can form legally  binding contracts under applicable law. North American Auctioneers services are not available to  minors or to previously suspended North American Auctioneers users. If you register as a  business entity, when you place a bid, you represent that you have the authority to bind the entity  to the agreement in question and other real estate-related agreements.  

5. North American Auctioneers Fairness Doctrine 

North American Auctioneers prides itself on offering Properties on a fair and level playing field  and allowing bidders an equal and fair opportunity to compete. If it is determined by North  American Auctioneers that a Property is won unfairly, for any reason, North American  Auctioneers reserves the right to 1) re-offer the Property in a new round of bidding, 2) request a  highest and best offer among the bidders or 3) return the Property to the Seller and not sell it to  any bidder.  

6. Acknowledgement & Disclaimers 

To the extent you utilize North American Auctioneers online services, you acknowledge and  agree that North American Auctioneers makes no guarantee that communications or transactions  conducted online will be absolutely secure. You further acknowledge and agree that there may  be system failures that may limit your ability to use the online services. You agree to assume all  risk and liability arising from your use of North American Auctioneers online services, including  the risk of breach in the security of the communications or transactions you conduct with North  American Auctioneers online. YOU UNDERSTAND AND AGREE THAT NORTH  AMERICAN AUCTIONEERS ONLINE SERVICES ARE PROVIDED “AS IS,” WITHOUT  WARRANTY OF ANY KIND, WHETHER EXPRESSED OR IMPLIED, INCLUDING,  WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY,  FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE.  

7. Use of Services & Website Content 

You may view, copy, or print pages from this Site solely for personal, noncommercial purposes.  You may not otherwise use, modify, copy, print, display, reproduce, distribute or publish any  information from this Site without the express written permission of North American  Auctioneers. At any time, North American Auctioneers may, without notice, make changes to  this Site or to the online services or products described and/or offered on this Site.  

North American Auctioneers reserves the right to modify, reject or eliminate any information  residing on or transmitted to its server that it, in its sole discretion, believes is unacceptable or in  violation of these terms and conditions and to suspend or end your service for any operational or  governmental reason or violation of these terms and conditions.  

8. Fees & Services  

BIDDING: 

Registration for the North American Auctioneers Site is free

WINNING THE BID:  

If you are the winner (highest bidder at closing), immediately upon winning a Property, you must  pay an initial buyer’s deposit of $250.00 CAD to $5,000CAD, which will be debited from the credit card we  have on file for your account. This “initial deposit will be credited towards the full required  deposit minus any credit card fees incurred by North American Auctioneers. The balance of the  full required deposit (per the terms and conditions of the sale) will be due and payable within 48  hours of closing of the auction. All offer documents will be emailed to you in an electronic  signature format for your immediate completion, once received the offer documents will be sent  via electronic signature to the “Seller” for completion. Once fully signed, both parties will  receive their completed copies and the remaining deposit will be required within 48 hours of this  completion. Instructions for deposit of the remaining deposit will be emailed to you you’re your  copy of the signed documents.  

PLEASE BE ADVISED Each Seller reserves the right to have final approval of all  purchase contracts submitted by any broker or bidder, regardless of information provided  by this Site, any broker, or any North American Auctioneers employee or affiliate to the  contrary. Should seller refuse to sell the property after a winning bid buyers initial deposit  of $250 CDN shall be refunded in full without intertest of penalty.  

BUYERS COMMISSIONS: 

If a Property is subject to a buyer’s commission fee, these fees will be disclosed in the Property  biding terms and conditions and will be added to the agreement of purchase and sale and paid by  the BUYER at closing. The bid amount posted on the Site will not reflect these fees which will  be added to the final sale amount and this amount shall be reflected in the agreement of purchase  and sale agreement which will be signed by both Buyer and Seller  

9. Links 

This Site may include hyperlinks to websites maintained or controlled by third parties. North  American Auctioneers is not responsible for and does not endorse the contents of or use of any  of the products or services offered by these third-party websites.  

10. Disclaimers 

As the user of this Site and any North American Auctioneers online services, you assume all  responsibility and risk for the use of this server and the internet in general. North American  Auctioneers, its parent and affiliates disclaim all warranties, representations or endorsements,  express or implied, with regard to the information accessed from, or via, this server or the  internet, including, but not limited to, all implied warranties of merchantability, fitness for a  particular purpose, or noninfringement. North American Auctioneers does not assume any legal  liability or responsibility for the accuracy, completeness, or usefulness of any information,  product, or process disclosed on the Site or other material accessible from the Site. In no event  shall North American Auctioneers be liable for any special, indirect, or consequential damages 

or any damages whatsoever resulting from loss of use, loss of data, or loss of profits, whether in  an action of contract, negligence or other tortious action, arising out of or in connection with the  use or performance of the information on the Site or the internet generally.  

11. No Warranties 

Any North American Auctioneers material on this server may include technical inaccuracies or  typographical errors. North American Auctioneers is not responsible for any damages incurred,  consequential or otherwise. North American Auctioneers has the right to make changes and  updates to any information contained within this server without prior notice.  

Information provided, and properties for auction on the Site are on an “as is”, “where is” and “as  available” basis without warranties of any kind, either express or implied, including, but not  limited to, warranties of title, noninfringement, or implied warranties of merchantability or  fitness for a particular purpose. No advice or information given by North American Auctioneers,  its affiliates or their respective employees shall create any warranty hereunder. Neither North  American Auctioneers nor its affiliates warrant that the information on the Site or on the internet  in general is uninterruptable or error free or that any information, software or other material  accessible from the Site is free of viruses or other harmful components.  

12. Modifications 

These terms and conditions may not be changed or supplemented in individual instances except  in a writing that is signed by an authorized representative of North American Auctioneers.  

13. Discrepancies in Advertisements 

If there are any discrepancies between the terms and conditions outlined on the Site and the  terms outlined in the purchase agreement, the terms in the agreement of purchase and sale shall  prevail, so read the purchase agreement carefully. All dates and times listed on the Site  supersede any advertisements or printed statements.  

14. Online Transaction Venue 

North American Auctioneers provides an online real estate transaction venue that allows for the  bidding for Real Estate via a public forum. North American Auctioneers does not hold itself out  to be a real estate broker or agent, nor does it claim to act on behalf of buyers or Sellers, North  American Auctioneers provides an efficient and effective platform that allows Sellers to  advertise their Properties to willing and able buyers. All listing brokers identified with a Property  on this Site are agents of the Seller, not the buyer. If a disruption of Internet bidding service  (such as a power outage or other technical occurrence of any kind) occurs at the end of an online  auction event, North American Auctioneers reserves the right to extend that event for a  reasonable period as decided by North American Auctioneers to provide bidders a fair chance to  compete for the purchase of a Property. 

Investor Terms  

Additional Terms for Upgrading to Investor Account 

The following terms and conditions apply to all Investors attempting to bid or sell Properties on  North American Auctioneers. Please take a moment to read this section thoroughly before  upgrading to an Investor Account.  

Additional User Terms Related to Buying or Selling a Property on North American  Auctioneers as an Investor:  

As an Investor on North American Auctioneers, each user agrees to the following:  

1. During the timeframe the Property is on North American Auctioneers, I agree to place all  offers I receive on the Site. No offer will be considered outside the North American Auctioneers  process.  
2. I agree that an internet transaction fee will be charged to the winning buyer of any property I  have placed in auction on North American Auctioneers. This internet transaction fee will be paid  to North American Auctioneers at closing. The Purchase Agreement will include an Internet  Transaction Fee Addendum specifying the amount to be paid by the buyer and shall be signed by  the buyer and made a part of the contract. I agree that if I do not get the North American  Auctioneers fee addendum signed by the buyer, I will be responsible for payment of any internet  transaction or buyer’s premium fee for any property that I have listed and sold through North  American Auctioneers.  
3. When posting a Property on the Site for auction , I agree that:  
4. if I request to have the Property withdrawn from the Site prior to the full duration of the  online auction, a withdrawal penalty could be assessed (unless prior approval has been  granted by North American Auctioneers management);  
5. I will set a Reserve price equal to a fair value or minimum amount I would accept to sell  the Property;  
6. a starting bid amount that is less than my Reserve price will be generated by the North  American Auctioneers system and that this starting bid amount will not be determined by  me;  
7. I agree to post as much useful information about the Property as possible, and I will  provide any required disclosures for the Property;  
8. I agree that I will not artificially inflate or influence the bids on a particular Property;  f. I agree that North American Auctioneers is a marketing vehicle to assist me in generating  offer activity for a Property and that it does not represent me or any bidder as an agent;  g. I agree that North American Auctioneers has given no guarantee as to its ability to obtain  any price for a Property;  
9. I understand that I can monitor all my listings and their bidding activity through my  account profile by clicking the link to the activity report; and 
10. I agree to and entrust North American Auctioneers to utilize the RealtyBid investor  contract and addenda for the sales transactions of my Properties sold on RealtyBid.com  (Click Here to view a sample of this RealtyBid investor contract and addenda).  

Agent Terms  

The following terms and conditions apply to all real estate agents attempting to bid or sell  Properties on North American Auctioneers. Please read this section thoroughly before upgrading  to an Agent Account.  

Additional User Terms Related to Buying or Selling a Property on North American  Auctioneers as an Agent: 

As a Listing Agent representing a Seller on North American Auctioneers, each user agrees to the  following:  

1. During the timeframe the Property is listed for auction on North American Auctioneers, I  agree to place all offers I receive on the Site. No offer will be considered outside the North  American Auctioneers process.  
2. When posting a Property on the Site for auction, I agree that:  
3. If I request to have the Property withdrawn from the Site prior to the full duration of the  online auction, a withdrawal penalty could be assessed (unless prior approval has been  granted by North American Auctioneers management);  
4. I will set a Reserve price equal to a fair value or minimum amount I would accept to sell  the Property;  
5. a starting bid amount that is less than my Reserve price will be generated by the North  American Auctioneers system and that this starting bid amount will not be determined by  me;  
6. I agree to post as much useful information about the Property as possible, and I will  provide any required disclosures for the Property;  
7. I agree that the Buyer Agent commission input into the North American Auctioneers  system will be the same as that offered in the MLS, or if not, the MLS listing will be used  to determine the commission paid to a Buyer Agent (North American Auctioneers  encourages the payment of commission by Sellers to Buyer Agents where buyer have  entered into a Buyer agency agreement, as this practice draws more potential bidders for  Properties offered on the Site);  
8. I agree that I will not artificially inflate or influence the bids on a particular Property;  g. I agree that North American Auctioneers is a marketing vehicle to assist me in generating  offer activity for a Property and that it does not represent me or any bidder as an agent;  h. I agree that North American Auctioneers has given no guarantee as to its ability to obtain  any price for a Property;  
9. I understand that I can monitor all my listings and all bidding activity through my  account profile by clicking the link to the activity report; and 
10. I am licensed in the province where the property is located and fully authorized to  represent the sale of the property as the listing agent and understand that it is  recommended by North American Auctioneers that any Listing Agent posting a Property  on North American Auctioneers should have a listing agreement addendum agreed upon  and executed by the Property owner before placing a listing on North American  Auctioneers (The addendum acknowledges that the Property owner wants the Property to  be marketed on North American Auctioneers and helps protect the Listing Agent and  North American Auctioneers from a Property owner attempting to increase the Reserve  price after the auction bidding begins).  

All USERS MUST AGREE TO THE USER TERMS BEFORE BIDDING. 

1. Fees & Services 

Payment of Sale Deposit for Properties in Ontario: the winning bidder must further pay a Sale  Deposit required by Ontario Province statute to the designated title company (the “Ontario Sale Deposit”).  The amount of the Ontario Sale Deposit specified by Ontario law is as follows:  

We reserve the right to change our User Terms at any time relating to fees and other items  mentioned or not mentioned in this published document. We may in our sole discretion change  any or all our services at any time. If a change occurs in a particular service, the fees for that  service are effective at the introduction of the service. If a Property is subject to a buyer’s  commission (Buyer’s Premium), the Buyers commission will be disclosed on the Property Bid  Page and in the documents of the auction. This amount will be added to final bid amount and  included in the final purchase price in the agreement of purchase and sale and will be paid by the  BUYER at closing. The bidding will not reflect the Buyers commission, but as stated, will be  reflected in the Agreement of Purchase and Sale and shall be signed by both Buyer and Seller.  

2. Buying 

Bidding/Winning: Each bid is, by law, an irrevocable offer to purchase, and each higher bid  provided by a Bidder shall cancel an earlier bid placed by such Bidder.  

LEGAL WARNING: AS WITH THE PURCHASE OF ANY PROPERTY, YOUR OFFER IS A LEGAL AND  BINDING CONTRACT TO PURCHASE THE PROPERTY AT THE OFFER PRICE AND TERMS. IF YOU  DECIDE TO PARTICIPATE IN THE AUCTION, YOUR “BID” IS A LEGAL AND BINDING OFFER TO  PURCHASE THE PROPERTY AT THE BID PRICE, PLUS COMMISSION AND HST IF APPLICABLE. IF  YOU DO NOT HAVE THE ABILITY TO COMPLETE THE TRANSACTION, REFUSE TO COMPLETE THE  TRANSACTION, OR DO NOT INTIAL AND AGREE TO THE AGREEMENT OF PURCHASE AND SALE,  YOU WILL BE HELD LIABLE FOR ANY LOSS THE SELLER AND NORTH AMERICASN AUCTIONEERS  MAY INCUR.  

On winning the property online, an agreement of Purchase and sale will be emailed to Winning  Buyer for completion using the email address associated with the Winning Buyer’s North  American Auctioneers account. Winning Buyer must complete and return the Agreement of  Purchase and sale and any other documentation supplied to Winning Buyer within 24 hours after  the closing of the Auction (unless a longer timeframe is specified in writing by North American  Auctioneers), time being of the essence. 

Property Conveyance: Please ensure you have a lawyer/solicitor available to receive documents  and to assist with the closing arrangements. Closing timeline will be stated on the Agreement of  purchase and sale and no extensions of closing date will be allowed.  

Title search: As per Agreement of Purchase and Sale your lawyer will have the ability to search  title to ensure property is free and clear of all liens and/or encumbrances.  

3. Auction Details 

Minimum Sale Bid: The minimum bid is a starting price for the auction. Seller is under no  obligation to accept any bids regardless if minimum bid is met.  

Balance Due: The remaining balance of the Total Purchase Price must be paid with thirty (30)  days after the confirmation of sale by the court. Any failure to timely pay the required Balance  Due amount may nullify the sale and result in a finding of contempt of court. Winning Buyer  shall also be responsible for those costs, allowances and taxes that the proceeds of the sale are  insufficient to cover. Winning Buyer is responsible for all closing costs.  

Bid Extension Time: If a bid is placed in the last five (5) minutes before the scheduled auction  end time, bidding will extend for an additional five (5) minutes. Bid extensions will continue  until a five-minute period of time elapses after the stated auction end time with no advance in the  bidding.  

Cancellations and Postponements: The sale of a particular Property may be cancelled or  postponed for various reasons, and there is no guarantee that a particular Property will be  auctioned. As such, the sale may be postponed or cancelled at any time prior to or during the  auction so Bidders should check back often for updated sale date information. All cancelled or  postponed sales as well as the date of the rescheduled sale (if applicable) will be announced on  the WebSite.  

4. General Information 

By registering to bid online for an auction, Bidders understand that a Winning Bidder is  legally obligated to timely pay the Sale Deposit and the remaining Balance Due on the Total  Purchase Price. North American Auctioneers reserve the right to reject any Offer in their  sole and absolute discretion. Any failure to timely pay the required amounts may result in a  finding of contempt of court and/or other consequences.