Auctions on Fabrica happen for one reason: a loan on the property defaulted, and the property is being sold at a public auction to repay it. Regular listings are never auctions. If you see an Auction card on a property page, this is what is going on and how to bid.
What you are bidding on
The property is real land held in its own trust, the same as any other Fabrica property. The winning bidder becomes the owner: the token transfers to you, and with it the trust and the recorded deed. The auction proceeds pay off the defaulted loan, and anything above the debt and costs goes back to the previous owner.
How bidding works
On the property page, find the Auction card. It shows the Current Bid and a countdown clock.
Click Place Bid.
Enter your bid. Each bid must be at least 2% above the current one; the app shows you the minimum (“Minimum bid is $X”).
Bids are in USDC, a stablecoin (a digital dollar that always equals $1), so you need enough USDC in your account. The app walks you through Approve USDC and Submit Bid.
If you don’t hold USDC, message us through the chat bubble before you plan to bid and we will help you get your account funded. Do this early: once bidding starts, the clock doesn’t wait for a bank transfer.
How long the auction runs depends on the lending pool behind the loan: legacy pools ran 24-hour auctions, and newer pools run 2-week auctions. The countdown on the Auction card shows the time remaining. When the clock runs out, the highest bidder wins and becomes the owner. There is no Fabrica fee for bidding or winning an auction.
Two honest notes
The current owner remains the owner until the auction closes. When it closes, the winning bidder becomes the new owner. The former owner can keep the property only by being the winning bidder, so you may see the owner bidding in their own auction.
Auction sales are final. Do your homework on the property before you bid, the same as any purchase: read the documents, check the score, and see “How do I verify a property before buying?” in this collection.
If you get stuck, message us through the chat bubble in the corner.
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