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Chapter 13 [Buyers]
Bidding Process
Current bids
Automatic Bidder
End of auction
Contact the seller
A binding bid is
created
An Auction Online is the best way
to buy real estate
Current
bids
You can click on the property listing that interests you to see
the CURRENT BIDS on the listing form. The time, date, and amount of
every bid is displayed, which allows you to view how much the
competition has offered.
Automatic
Bidder
The amount of the last bid, increased by the increment is the
lowest price the buyer can bid.
The increment is the minimum amount by which the buyer is allowed
to increase the last bid.
For those who do not have time to actively participate in the
bidding process, the AUTOMATIC BIDDER is the answer. Simply enter
the amount of your MAXIMUM BID and the AUTOMATIC BIDDER will
increase the current bid by $500.00 automatically when another
bidder will make an offer, and will continue to do so until the
AUTOMATIC BIDDER has reached your MAXIMUM PRICE. Your MAXIMUM
PRICE is not visible to other bidders or to sellers.
End of
auction
At the top of every listing form will be a specific time as to
when the auction will close. If you are the highest bidder at the
time of closing, the listing agent will contact you to confirm the
sale. You have 24 hours (COOLING PERIOD) to decide. Failure to
confirm the sale may result in the selection of the next highest
bidder by the seller. If your are no longer interested in the
property, for any reason, you must inform the listing agent (no explanation is required). Remember, if the seller is
not satisfied with the highest bid (offering price), the seller may, at his/her own discretion, choose to
continue with the auction for an additional period of time, or to
not sell at all.
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Contact
the listing agent
You can contact the listing agent via email.
At the bottom of every listing, there is a "Comments" section where
you can ask the listing agent a question or view
previous questions from other users. When submitting a question to an
agent, the message is sent directly to his/her email address on
file. The agent can respond by following the link in the email.
To ask the Listing Agent a question:
- Log into your account.
- Go to the listing.
- Scroll down to the section marked
"Comments."
- Click on the "Ask the seller a question"
button. This will take you to a Contact User form.
- Enter your message.
Click "Send"
button.
A binding
bid is created
In order to have a legally binding bid, there must be a contract
signed by both parties (sellers and buyers). Only after the contract
is signed by both parties, IS A BINDING BID CREATED.
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An Auction Online is the
best way to buy real estate
You can buy any property at the
lowest possible price if you seek out real estate agents using
Real Estate Price
Negotiator. You are invited to inspect the property before
you make a bid. You can ask agents questions
about anything of concern to you. The property is pre-inspected by
licensed professionals and you are welcome to see the inspection
report.
In order to successfully purchase
a property using
Real Estate Price
Negotiator, the top buyer must
offer more money than any other buyer is willing to pay for that
property, on that day, but only $500.00 more.
The most important thing to understand about your bid is that it
is NOT BINDING. You can back out of your bid until you sign a
contract. Equally important, you must understand that the seller is
NOT BOUND by your bid, either.
Start Bidding Now!
Do not let your inexperience with buying real estate online keep
you from getting the best deals. Let us help you through it!
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Click
on the banner to go to the auction site
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