Draft for review. This page summarises Sreera's current rules in plain language and is not final legal text. Highlighted items must be filled in, and the whole page reviewed by Sreera's legal advisor, before launch.
1.Who can bid
To bid on any Lot you need:
- A Sreera account registered with your mobile number and OTP.
- Completed eKYC: PAN, bank account, Aadhaar and a selfie. You complete it once and it works for all auctions.
- An active, refundable participation token. Some high-value Lots also need an EMD (see below).
2.Participation token
The participation token is a refundable amount you pay once to start bidding. It stays valid for 6 months. If you win a Lot, the token is adjusted against the price.
Token amount: [amount to be confirmed]. For refunds, see the Refund and Cancellation Policy.
3.Earnest money deposit (EMD)
High-value Lots may need an extra EMD on top of the token. The EMD amount is shown on the Lot page before the auction starts.
When and how the EMD is refunded to bidders who do not win: [to be confirmed].
4.Inspection and Lot information
- Sreera Verified Lots have been visited by a Sreera executive, with geotagged photos and video, an inspection report with its date and the ownership papers reviewed.
- Lots where the photos come only from the seller are clearly labelled Seller photos.
- You can book a visit by appointment any time before the auction closes. We recommend you inspect before you bid.
- Inspection reports describe the condition on the inspection date. [Whether Lots are sold on an as-is, where-is basis: to be confirmed]
5.Bidding
- Auctions run live online. Every bid is visible to all bidders and time-stamped.
- Each bid must be at least the current bid plus the bid increment shown on the Lot page.
- The highest bid when the timer ends wins, subject to the seller confirming the result.
- A bid cannot be withdrawn once placed. [Rule for bids in the last minutes, e.g. timer extension: to be confirmed]
6.After the auction
- The seller confirms the result.
- You pay the balance within [payment deadline, e.g. number of days].
- Sreera handles the documents, transfer and handover.
7.If you win and do not pay
If you win a Lot and do not pay the balance within the deadline, your token is forfeited and your bidding is paused for 3 months. This keeps auctions fair for everyone.
8.Taxes and charges
[GST, registration and transfer charges, stamp duty and any buyer fees, and who pays each: to be confirmed]
9.Questions
Call or WhatsApp our team at +91 97040 98899, email sreeraagency@gmail.com, or visit us at Siddartha Nagar, Ramanayyapeta, Kakinada 533003.