An online property auction is a digital platform where buyers bid for properties (such as land, houses, and flats) in real time.Auctions are conducted at a predetermined time, and the highest bidder at the end of the auction wins the property. Theauction model promotes competitive pricing, market-driven values, and transparency in the real estate transaction process.
Property verification involves the legal and financial checks conducted to ensure that the property being sold is legally clear,free from disputes, and properly documented. This may include checking land titles, ownership records, clearances from municipal authorities, and verifying that the property is free from legal encumbrances.