FAQ

To sign up for the NEWSEC e-auction platform, you shall click on the registration button in the upper right corner of the site and fill out the registration form. Find out a brief user registration guide: here.

The auction is published on the auctioneer's website www.newsecaukcionai.lt and on the RE listing websites Aruodas.lt, Skelbiu.lt, NTzemelapis.lt, and, in some cases, - by means of a press release or other media. You can find out about the upcoming auctions by subscribing to the auction newsletter here.

Only the Auction Participant whose registration for the Auction has been approved by the Auction Organizer may participate in the Auction and bid. For more information how to register for an auction and who can become a registered user, see the Auction Rules and  Page Terms and Conditions.

A natural person who logs in to the Website may act in his or her own name or as a representative of another natural or legal person by submitting to the Auction Administrator a copy of the Participant's power of attorney in PDF or .jpeg format. He/ she must receive the approval of the Auction Organizer. A legal entity may participate in the Auction through its representative - the head of the legal entity or an authorized person.

Registration to the auctions is not charged, but a Participant, willing to register to a specific auction, justifies his serious intentions by paying the Entry fee. The Entry fee, specified in the ad of a specific auction, must be paid into the account, specified in the pop-up window when joining the auction. After the auction, the Entry fee will be refunded if the Participant loses the auction. If the Participant is announced the winner of the auction - the Entry fee is included in the final price of the object.

No, your personal data is protected and confidential. Other participants will only see bid history and / or participant number. The history of bids without identifying participants is also displayed publicly in the auction ad.

Yes. By participating in each auction currently held, you will have to fully register and pay the Entry fees for each auction individually.

This status indicates that the Participant completing the registration must receive the confirmation or rejection of the registration from the Auction Administrator. When the Auction Administrator approves / rejects the Participant's registration, the Participant will receive a notification via the system's Notifications section and / or by e-mail indicated in the Registration form. If Participant ‘s registration has been declined, the Participant will be informed via the contact details specified in the Registration, with a deadline to correct errors, if any. In that case, the Participant may repeat registration for the same published auction and await approval.

Yes, you have the right to withdraw from the Auction (Cancel Registration) by submitting a written request to the Auction administrator (the application must be completed and signed on behalf of the registered Participant) to return the Auction Documents specifying, among other details, the bank account number for the Entry fee to be returned.

There are no additional fees. However, you must assess the bank transfer fees when making a participation Entry Fee. Upon becoming the winner of the auction, the buyer pays the notarial fees (check the current rates here), unless otherwise set in the preliminary agreement.

Additional information (which is not publicly disclosed) about an Object of interest may be obtained from the Auction organizer, upon requesting by the contacts details, indicated in the ad of the Object of interest and by signing the Non-Disclosure Agreement.

Yes, it is strongly recommended that the object be inspected, which can be done at a pre-arranged time. Please contact the Auction Administrator, listed in the ad of the Object of interest.

At the starting price you can buy 1) by being the only auction participant; 2) if other participants do not offer a higher price when you have offered the initial one.

The „BUY NOW“ terms do not apply to all objects and can only be offered at auctions that have a „BUY NOW“ button. The „BUY NOW“ price is specified in the specific auction ad. When you click „BUY NOW“ you will see the pop-up window with auction administrator's contacts in it - send your request for the „BUY NOW“ option. The auction administrator will tell you how to proceed and send you the forms you need to fill out.

Yes. Before participating in the auction, the Participants must have discussed the terms of the credit and received positive responses from the credit institutions. When registering for an auction, Participants confirm their solvency and assume responsibility for fully settle. If, upon announcement of the winner, it turns out that he/she is insolvent and cannot continue the Transaction/fully settle with the Seller, he/she loses the Participant's Entry fee and must reimburse the Auction Organizer all the costs of organizing and organizing the new Auction.

The ad will include information for each item on sale, whether the item is subject to VAT or not.

The auction Participant is notified at the top right-hand Menu of the Website under the heading "Notifications" or by the e-mail address, specified at the time of the registration.

Yes, but you must bid at the initial price in order to the auction to be announced successful (taken place).

Yes. All you have to do is pay the price difference in the manner specified in the preliminary contract.

You have the right not to submit a bid, but you risk losing Entry fee. Without offering the initial price, as a single participant or several participants, the auction is deemed to have failed and the participant’s Entry fees are not returned. However, you have the right not to raise the price if another participant has offered the initial price, and you have no opportunity/are not willing to offer more - in this case you will be reimbursed the Entry fee without fines.

Unless otherwise specified in the Auction Rules, the Entry fee will be refunded to the losing Participants within 10 days after the end of the auction.

After the announcement of the auction winner, the Auction organizer will contact the Auction winner for further procedures to close the transaction. Unless otherwise stated in the announcement, a Preliminary Purchase and Sale Contract shall be signed as standard, and an advance payment of 10% shall be paid (the Entry Fee shall be included in this amount); part of own funds - before the notarial purchase-sale agreement. In the case of credit purchase, an additional 30 days are granted for the installment.

Such opportunities are currently not available, as it runs counter to the principles of auction transparency - the auctioneer verifies the participants' compliance with the law (money laundering, crime prevention or terrorist financing), financially registers, records the winner and mentions the winner.

There is currently no such option, but you have the right to inquire in writing about the subject of interest and to submit an inquiry to the Auctioneer, who, together with the Seller, will evaluate the opportunity and provide an answer.

Unless otherwise stated, before signing the notarial purchase-sale agreement (within 30 days after signing the preliminary purchase-sale agreement) - a portion of own funds, within an additional 30 days after signing the notarial contract - a portion of credit.

In such case, we assume that the auction failed, and the Entry fee is not returnable to the Auction winner and considered as a fine payable by the Auction Winner to the Seller. In addition, the Auction Winner must reimburse the Auctioneer for all costs of organizing and organizing the new Auction. Such participant shall forfeit his right to participate in the newly organized Auctions.

The auction is considered to have failed if no auction participant is registered, no auction participant offers the initial sale price specified in the auction terms or, after the auction, it turns out that other conditions have not been fulfilled (the winner does not sign the Purchase and Sale Agreement, etc.). If the auction does not take place, a new auction may be announced.

You may submit any observations and / or complaints regarding the operation of the Website to the NEWSEC contacts listed in section 12 of this Website Use Policy. You must indicate your name, e-mail address as well as describe the improper operation of the Website, malfunction, error, interruptions, etc. and specify the date (time) and the duration if possible.

If you are considering selling your RE at the auction, please send request to a contact person, listed on the page by briefly describing the real estate you want to sell and NEWSEC will provide advice on the best way to sell your property.