AuctionIT.co.keStatutory auction execution
AuctionIT.co.ke transforms statutory auctions into fully digitised, compliant events. It expands bidder reach through online participation while preserving every legal requirement of the Auctioneers Act.
What it does.
- Verified bidders
Onboard bidders with KYC, AML and credit verification before they place a bid.
- Reserve enforcement
Reserve prices are enforced automatically. Bid history is recorded and statutory obligations tracked.
- Digital notices & advertising
Generate auction notices, link print adverts to digital listings via QR codes, and surface full asset details online.
- Audit trail
Every bid, document and sale record is stored immutably. Exportable for regulators or courts on request.
- Post-auction settlement
Generate sale agreements, notify relevant authorities, and update the DistressIT case automatically when the hammer falls.
- Bidder financing
Where the originating lender offers buyer financing, qualified bidders see options inline before bidding.
The outcome.
Physical auctions limit participation and transparency. AuctionIT digitises the process, broadens buyer reach, and creates immutable records — maximising recovery value while preserving statutory compliance.