mikes1531
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Post by mikes1531 on Jan 31, 2014 3:15:19 GMT
I have a feeling this might be pushed back by a few hours to allow time to read through full report if we have the same night owl to post it around midnight just like the Hackney one last night! No such luck. Still no full report, so again I have to presume that the auction will be delayed. I really don't mind having to wait for the full report. I'm happy for AC to take all the time that's needed to get it right. What I do mind is having to worry that the loan will be released and my pre-bids will be turned into real bids without me having had a reasonable amount of time to review the documents and make a sensible decision. Pre-bidding is a great idea, but only if there's sufficient review time available before the auction goes live.
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Post by oldnick on Jan 31, 2014 6:39:23 GMT
I have a feeling this might be pushed back by a few hours to allow time to read through full report if we have the same night owl to post it around midnight just like the Hackney one last night! No such luck. Still no full report, so again I have to presume that the auction will be delayed. I really don't mind having to wait for the full report. I'm happy for AC to take all the time that's needed to get it right. What I do mind is having to worry that the loan will be released and my pre-bids will be turned into real bids without me having had a reasonable amount of time to review the documents and make a sensible decision. Pre-bidding is a great idea, but only if there's sufficient review time available before the auction goes live. I agree, I would rather that the auction started well after final documents have been seen by us, so our questions can be answered. What's wrong with a long lead time? If the borrower is desperate for access to our money then perhaps the answers will be swiftly supplied! I would have thought two weeks to read the documents, pose questions, receive answers and then any follow up questions ought to be enough.The pre-bidding can still start at the beginning of those two weeks, and the auction take place at the end.
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Post by batchoy on Jan 31, 2014 10:18:44 GMT
If AC are going to keep to their statement on Loan Information page we are going to see another push back on this one, but that should have been done at 12:00 yesterday when they didn't put up the documents, as it stands I am having to check every so often in readiness to delete my pre-bids if it isn't pushed back or the documents aren't published. 11:00 : 55 minutes to pre-bid processing time and no push back and no documents - this one is getting a bit too tight for comfort andrewholgate11:10 : 45 minutes to pre-bid processing and no change - the finger is starting to twitch over pre-bid the delete buttons 11:25 : 30 minutes to pre-bid processing and the start time has been pulled completely - OK chris so what would happened if an attempt is made after 11:55 to push back the auction when the pre-bid processing has already started?
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Post by pepperpot on Jan 31, 2014 11:24:03 GMT
Start time has just been removed
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Post by batchoy on Jan 31, 2014 11:28:46 GMT
Start time has just been removed Should have been done yesterday at 12:00 when the documents were not forth coming, not 30 minutes before the pre-bids were due to start being processed
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Post by chris on Jan 31, 2014 11:32:50 GMT
11:25 : 30 minutes to pre-bid processing and the start time has been pulled completely - OK chris so what would happened if an attempt is made after 11:55 to push back the auction when the pre-bid processing has already started? The admin team have the option to put a live auction back to pre-bid which will change all bids back into pre-bids. This has been used a couple of times recently.
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oldgrumpy
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Post by oldgrumpy on Jan 31, 2014 11:36:19 GMT
I've been sitting here two days running just in case I needed to transfer cash in to cover my pre-bids (and read full reports).
Not good enough.
As I said earlier, pre-view auctions should be with no start date - then give a start date after the full documentation is available, with (say) minimum 48 hours for lender document perusal time and other DD.
"The admin team have the option to put a live auction back to pre-bid which will change all bids back into pre-bids. This has been used a couple of times recently."
Yes - on long since ended auctions which have been delayed by legal rigmarole. That needn't be necessary on auctions which haven't even started, if firm start dates are not given until full documents are available.
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Post by batchoy on Jan 31, 2014 11:42:17 GMT
I've been sitting here two days running just in case I needed to transfer cash in to cover my pre-bids (and read full reports). Not good enough. As I said earlier, pre-view auctions should be with no start date - then give a start date after the full documentation is available, with (say) minimum 48 hours for lender document perusal time and other DD. Concur absolutely. (Though I would go with 2 working days not 48 hours) This one was just minutes away from me deleting all my pre-bids and crying FOULI wonder how many people's nerve did not hold out to the final 30 minutes, have deleted their pre-bids, are now kicking themselves and will be crying foul having lost their place in the pre-bid queue.
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unmadem
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Post by unmadem on Jan 31, 2014 11:56:59 GMT
I've been sitting here two days running just in case I needed to transfer cash in to cover my pre-bids (and read full reports). Not good enough. As I said earlier, pre-view auctions should be with no start date - then give a start date after the full documentation is available, with (say) minimum 48 hours for lender document perusal time and other DD. "The admin team have the option to put a live auction back to pre-bid which will change all bids back into pre-bids. This has been used a couple of times recently."Yes - on long since ended auctions which have been delayed by legal rigmarole. That needn't be necessary on auctions which haven't even started, if firm start dates are not given until full documents are available. Completely agree too. There was no need to cause us such stress.
What is particularly annoying is a number of posters have been highlighting this issue all week in different threads by different posters and on Q&As and it was so easily avoided by doing just what AC have done now i.e. remove the start date till the documentation is available.
All credit for IT dept for adding the facility but it should have been used much sooner with the excellent introduction of prebids. The 2 things must go together. Hopefully only teething problems and it will ne the standard from now on.
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JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Jan 31, 2014 11:58:32 GMT
It would be better if the email could be sent when all docs and Q & A are complete, then the email could give a start time.
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mikeb
Posts: 1,072
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Post by mikeb on Jan 31, 2014 12:00:58 GMT
Currently seeing missing FROM-clause entry for table "pb" Under my pre-bids on N/W/B loan ? Both on my summary page AND on the auction which has now apparently opened even though at had no start time Is someone at the controls Edit: Had to manually delete my prebids and convert them to actual bids, as they were just sat there, I have screenshots if needed.
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Post by batchoy on Jan 31, 2014 12:04:55 GMT
Currently seeing missing FROM-clause entry for table "pb" Under my pre-bids on N/W/B loan ? I have the same issue and the auction has gone live with 1 day 6 hours to run.
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oldgrumpy
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Post by oldgrumpy on Jan 31, 2014 12:06:31 GMT
Oh dear! Looks like the system has started the auction and zapped all our pre-bids - only 1% full (despite showing 100%+ in pre-bids) PS I see pepperpot has snaffled a small piece of the cheese!!
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bugs4me
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Post by bugs4me on Jan 31, 2014 12:07:44 GMT
This one appears to be a is a total mess. Showing user bids of 0.62% but pre-bids of 103%. I have no idea whether my pre-bid is in or not. Still no full report even though the auction has gone live. No where near the standard we have come to accept from AC.
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Post by pepperpot on Jan 31, 2014 12:08:13 GMT
Somethings F'd up, the loan looks semi-live and I can place a real bid, (just put on £20 as a test) chris - HELP! I hope the bids that are being placed now, aren't knocking out pre-bidders - I can smell mutiny.
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