{"id":9655,"date":"2024-05-08T20:41:59","date_gmt":"2024-05-08T17:41:59","guid":{"rendered":"https:\/\/vcmem.com\/common-questions\/"},"modified":"2024-07-05T10:02:54","modified_gmt":"2024-07-05T07:02:54","slug":"common-questions","status":"publish","type":"page","link":"https:\/\/vcmem.com\/en\/common-questions\/","title":{"rendered":"common questions"},"content":{"rendered":"\t\t
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common questions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\tFAQ section to answer your questions.<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhy auction?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Selling by auction guarantees that you will get the real fair price for the asset you are selling without undervaluation or exploitation. It also guarantees the buyer the purchase of promising investment assets for the appropriate financial return.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat assets can be sold?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Real estate, projects, Cars and other in-kind products.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the conditions for participating in auctions?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Register on the virtual community platform and then follow the indicated participation steps, whether you are a seller or a bidder.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat are the auction posting fees?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Hosting fee 5000 riyals, The virtual community platform markets the auction to help promote it and introduce investors to it. Although this does not guarantee the sale of the asset being auctioned, However, it increases the probability of the auction being successful. After the auction is completed, 2.5% of the auction award value is deducted from both the seller and the buyer and allocated to the virtual community company.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tHow does the platform support the published auction?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

The virtual community platform provides the service of preparing and hosting the auction, in addition to promoting it, investing in the large number of businessmen, entrepreneurs, and serious investors present on WhatsApp groups who are looking forward to highly profitable investment opportunities.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the platform's commission if the auction is completed?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Only 2.5% from the seller and 2.5% from the buyer.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tAre the fees refunded if the auction is not completed?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Of course not. The amount of 5,000 riyals is considered a fee for preparing, hosting, and publishing the auction, regardless of the success in selling the asset offered for bidding or not.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is meant by the auction preparation period?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

It is the period between the announcement of the auction and the start of the auction, during which interested investors pay the insurance amount to participate in the auction immediately after its launch.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhat is the maximum and minimum auction?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

The minimum is 50 thousand riyals, and there is no maximum, as some auctions are worth tens of millions.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhen must the auction winner complete the value of the purchased asset?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Within 3 working days.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs it necessary to review the terms and conditions of the auction before bidding?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

The participant in the auction is obligated to review the details of the item or items that he wishes to bid on, through the details listed on the platform for review, inspection and inquiry, in order to avoid any problems related to the non-acceptance of the sold item, payment terms, or other reasons leading to claims of deception or ignorance.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tIs it possible to participate in more than one bid at the same time?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Yes, it is possible to participate in more than one item in more than one auction, after charging the required entry amounts for each item.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tWhen is a bidder considered the winner of the auction?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

Approval to award the item to the bidder with the highest bid is subject to the special conditions published in the auction. Through it, the conditions for the sale and award are known, which usually require the approval of the sale committee for the award. The committee may also reject the award due to failure to reach the evaluation or for any other reasons.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\tTransfer of ownership and receipt of the commodity<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t

After winning the auction, the selling agent or seller is contacted to arrange the procedures for completing the price and paying other obligations such as tax, commission, etc. The time for transferring ownership and receiving the item is then determined according to the terms of the auction.<\/p>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

common questions FAQ section to answer your questions. Why auction? Selling by auction guarantees that you will get the real fair price for the asset you are selling without undervaluation or exploitation. It also guarantees the buyer the purchase of promising investment assets for the appropriate financial return. What assets can be sold? Real estate,…<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","iawp_total_views":7,"footnotes":""},"class_list":["post-9655","page","type-page","status-publish","hentry"],"acf":[],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"Osama Amin","author_link":"https:\/\/vcmem.com\/en\/author\/dev-osamaamingmail-com\/"},"comment_info":0,"_links":{"self":[{"href":"https:\/\/vcmem.com\/en\/wp-json\/wp\/v2\/pages\/9655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vcmem.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/vcmem.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/vcmem.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/vcmem.com\/en\/wp-json\/wp\/v2\/comments?post=9655"}],"version-history":[{"count":0,"href":"https:\/\/vcmem.com\/en\/wp-json\/wp\/v2\/pages\/9655\/revisions"}],"wp:attachment":[{"href":"https:\/\/vcmem.com\/en\/wp-json\/wp\/v2\/media?parent=9655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}