5.What will happen when the other side fail to perform ?
Firstly this is not legal advice and is a dialog. Generally, the party that failed to perform will be blacklisted by Violater.com. Remember member in violater.com has passed through a verification of indentity process performed by AustPost before they can even participate in the system. Secondly, any deposit paid will be forfeited in its entirety and thirdly the vendor is free to re-offer (if he had not contributed to the buyer's fault) to the second highest bidder. In practise, we will notify the 1st and 2nd winners. We will ask the 2nd winner to be on standby to accept its offer should the 1st winner failed to complete and where the vendor has consented. Obviously, each parties is at liberty to pursue their own claims against the wronged party but I made this clear in our Terms and Conditions that we cannot guarantee success or indemnified any losses or damages caused by our system or by the other side which may or may not be at fault. This is a condition for using this services which are free and without warranty. This is a platform for parties to match their expectations for an underlying property, this is not a system that can guarantee a risk free conveyancing. Obviously Khai Kwan will be happy to take up any request on your behalf to claim what is rightfully a breach in contract and due to you. The process (when the other party defaults) will be firstly to demand payment and if no payments were made to pursue this in Court. 
