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Mother’s Auction Rules
Place a Bid
Qualification
- Users able to place an offer or a bid on a listed
property shall be limited to Mother’s Auction Member, individual
or company who completes necessary identification procedures (hereinafter
referred to as ”MA Member”), Mother’s Auction Member
Shop (hereinafter referred to as “MA Member Shop”) and
Mother’s Auction sub-Member Shop (hereinafter referred to as ”MA
sub-Member Shop”), and each qualification is respectively construed
to Mother’s Auction Member Code, Mother’s Auction Member
Shop Code, and Mother’s Auction sub-Member Shop Code.
- Bid placement shall be defined as user’s spontaneous
activity to clarify intent to purchase a property listed on Mother’s
Auction Website (hereinafter referred to as “MA
Website”) at the user’s bidding amount.
Bidding Period
- All newly listed properties shall be withheld from
receiving any bids or offers for the first 7 days. This period shall
be considered as the ‘Open Period’.
- The Bidding Period shall be between 1 to 42 days
and qualified Members shall be able to place bids during this Bidding
Period only. The Bidding Period length shall be determined by a seller
when placing a listing.
- Counting the end time shall be based on MA Website
server clock time.
- Mother’s Auction Webmaster (hereinafter referred
to as “MA Webmaster”) prescribes the provisions of ‘Front-loadable
End Time Rule’ and ‘Automatic Bidding Period Extension’,
and each end time may be modified by the application of such provisions.
Bid Placement Method
- As a bid-up event, effective outbidding shall be
made by in amounts more than JPY100,000. All ‘offer prices’ and ‘bid
amounts’ shall be considered to include the Japanese Consumption
Tax (Sales Tax) amount, (currently 5%).
- Contrary to the previous 70%-fixed 'Offer Starting
Price' system, the newly introduced offer price rule enables sellers
to choose whether to receive an offer price for auction properties.
If choosing to do so, sellers are eligible to set an offer starting
price between 80 to 95% of the 'Irrevocable Selling Price' at 5% intervals.
Choosing the 'no offer price' option will leave the auction without
an offer price range.
- Effective price offering shall be equal to or exceeding
the ‘Offer Starting Price’.
- In the event that an auction ends only with offer
prices (meaning ‘under the Irrevocable Selling Price’),
the seller shall not be bound to ‘selling’ responsibility.
In such event, the offer winner’s right shall be limited to a
right to negotiate the purchase with the seller, and selling and buying
obligations arise only when the two parties agree on a resulting price
after negotiation.
- All Bidders are entitled to place bids for more than
one property at a time but shall also be bound to ‘buying’ responsibility
in the event of multiple winning bids.
  Others
- All MA Members are entitled to choose an agent realtor
(hereinafter referred to as ‘Buyer’s Agent’) when
registering the Membership or inputting a Member ID Code for bidding.
In this regard, however, the chosen Buyer Agent shall not be changed
by the choosing Member once the Member places an effective bidding
or offering.
- All price offerings and biddings shall be approved
by MA Webmaster, and all Offer Prices and Bid Amounts shown on MA Website
shall be considered as ‘approved’ offerings and biddings.
- Mother’s Auction K.K., MA Member Shop, and
MA sub-Member Shop shall not receive any application fee, bid guaranty
money or deposit for placing a bid.
- Any and all offer prices or bid amounts posted on
MA Website shall not be retracted without a prior consent from MA Webmaster.
In this regard, however, a user who frequently repeats such ‘retracting
requests’ may be determined as ‘malicious and intentional’ acts
unless admitted absolutely necessary by MA Webmaster, and MA Webmaster
may disallow the determined Member from MA Membership permanently.
Closing Bid
Closing Bid Definition
- Closing Bid (or Successful Bid) shall be defined
as the highest bid amount equal or above the ‘Irrevocable Selling
Price’, placed during the effective Bidding Period.
- In the event that an auction ends without an effective
bid amount but offer prices, the highest offer price shall be entitled
as the ‘Winning Offer’.
Note: In such ‘Winning
Offer’ case, the seller shall not be bound to ‘selling’ responsibility,
and the Offer Winner’s right shall be limited to a right to negotiate
the purchase with the seller. Selling and buying obligations arise only
when the two parties agree on a resulting price after negotiation.
Winning Bidder
- MA Webmaster shall be entitled to determine a closing
bid amount and winning bidder.
- Winning Bidder shall be entitled to obtain the ‘Prioritized
Negotiation Right on the Listed Property’ and the actual purchasing
procedure shall be completed with regulatory compliance.
- Winning Bidder shall be regarded as a party who
has clarified purchasing intent on a listed property and expected to
complete a sale closing contract without delay, unless admitted as
absolutely necessary by MA Webmaster.
- Winning Bidder shall be bound to purchase the listed
property at the closed bid amount that MA Webmaster determines and
not be entitled to retract the purchasing intent without prior consent
from MA Webmaster.
- In a case that an auction ends with more than one
highest bidder, the bidder first filing placement of the highest bid
amount to MA Webmaster shall be the winning bidder. (Only applicable
to the case of competition caused by the automatic bidding service)
- Offer Winner shall be entitled to purchase a listed
property in a case the seller agrees to sell it to the Offer Winner.
Seller
- As a principle of the Service, Seller shall close
the sale contract within 30 days and deliver the property within 60
days since the closing bid.
Others
- Both the Seller and Bid Winner shall be bound not
to cancel the subsequent sale transaction after the closing bid.
- In the event of failure of closing the sale contract
between the seller and the original winning bidder (or offer winner),
the next highest bidder (or price offerer) shall be deemed as the effective
winning bidder (or offer winner) and sale possibility shall be sought
at this newly effective closing bid (or offer price). This procedure
shall be thus repeated in the same manner for the rest.
Bidding Period
Front-loadable End Time
Rule
Bid placement is available only during the
bidding period that seller specifies and the seller is eligible to set
the bidding period between 1 and 42 days. Receiving an effective bid
during the bidding period will automatically front-load the auction’s
end time to a point that the seller has set additionally, notwithstanding
the original bidding period. Sellers can choose a end time to take effect
on the bid-receiving day, 1, 3, 5, or 7 days later. Auction End Time
can be set at either 18:00 or 19:00 of each day. This ‘Front-loadable
End time Rule’ is applicable only to effective bidding and not
to ‘price offerings’ (meaning a price offer less than the
irrevocable selling price).
Note: The Front-loadable
End Time Rule shall be applicable only to the case of effective bidding
(a bid at the Irrevocable Selling Price or above) and not applicable
to the case of effective price offering (an offer under the Irrevocable
Selling Price).
Bid closing on the receiving
day
In a case the seller has set the bid-receiving
day to close (meaning front-loading the end time to the bid-receiving
day) and there has been one effective bid alone, the bidding will be
officially closed when reaching the end time of the day. (Seller can
choose either 18:00 or 19:00 to close the bidding). In the same case
but receiving the bid in the last 10 minutes to the end time, the bidding
period will be automatically extended for the next 10 minutes as ‘Automatic
Bidding Period Extension’ functions and this procedure will be
thus repeated in the same manner until settled.
Notwithstanding the seller has set to close on the bid-receiving day,
the bidding period will be automatically extended to the end time of
next day, if the first and effective bid is placed only after the end
time (meaning from 18:00 or 19:00 to 24:00).
Bid closing on other
than the bid-receiving day
In a case the seller has set another period
to close (meaning front-loading the end time to the1st, 3rd, 5th or 7th
day from the bid-receiving day) and there has been only one effective
bid throughout the set period, the auction should officially close with
the effective bid as the set period expires at the end time. In the same
case but receiving another effective bid before the end time of the set
period, the bidding period will be automatically extended for another
set period commencing from the day that the second effective bid occurs.
This procedure shall be thus repeated in the same manner for the rest
but shall not exceed the original bidding period.
Automatic Bidding Period
Extension
In the event that a listed property is newly
outbid in the last 10 minutes to the end time, the bidding period shall
be automatically extended by another 10 minutes commencing from such
new outbidding, and this procedure shall be thus repeated in the same
manner for the rest.
Note: This automatic extension
rule applies to all effective bidding and price offerings.
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