Fixed-price Auction

• The Sanga platform uses a fixed-price auction process for listing properties, allowing investors to bid on properties they are interested in.

• During the auction process, investors can submit bids on properties that are listed on the auction board. The bidding period lasts for 30 days.

• Investors who want to purchase properties without going through the bidding process, they can do so by purchasing the property at the "buy now" price.

• If there are no bids on a property within the bidding period, the property will be removed from the auction board.

• Members are only able to bid on properties that are at or below their own tier level. For example, a member at tier 2 can bid on properties at tiers 1 or 2, but not at tier 3.

• After the bidding period has ended, the winning bidder will be asked to transfer the money within 15 days. Failure to do so will result in forfeiture of the deposit money, and their membership status will be terminated.

• Once the winning bidder has transferred the money, the process of transferring the property ownership will commence.