Bidding Process:

Agents may bid online for their clients anytime until Wednesday, April 14th at 7:00pm.  (If you do not have an agent, please contact the listing agent prior to bidding).

6% Buyer’s premium (which covers auction fees and brokerage fees) is added to the winning bid which establishes the final sales price on the REPC. Highest Bid + Buyer’s Premium = Sales Price.

The seller reserves the right to accept, reject, or counter any offer.

Traditional Transaction. Once the seller selects the winning bid and both parties sign the REPC, the entire process will proceed like a traditional real estate transaction with disclosures, contingencies, etc.

*******IMPORTANT DETAILS*******

In order to place a bid/offer on any property available, the buyer’s agent must register first.

By creating your account, you agree to accept these Terms and Conditions of the offer process AND this bidding platform.

Bidders must either provide Proof of Funds if paying in cash OR an Approval Letter From A Mortgage Lender prior to bid closing or your bid may not be considered.

We STRONGLY encourage you, as the agent, to login to your account long before the end of the bidding time. It is IMPORTANT to understand the steps and functionality needed to place your bid well before the offer time ends. Technical or agent support may not be available after 12:00pm on the final day.

Auto-Offer Option – If you select the Auto Offer option (located just below where you enter your bid price), you can enter the maximum amount you’re willing to bid for this property and the system will place offers for you every time your offer is outbid, up to your confidential maximum.

Auto Extend 5 More Minutes – Our system prevents last-second bidding by automatically extending the bidding time 5 more minutes if a bid is placed within the last 2 minutes to allow other bidders the opportunity to respond. This means there is no advantage to place your bid on the last day or final minutes, since all bidders will have plenty of time to respond, no matter when your bid is placed.

Seller Paid Closing Costs. All bids are placed at seller’s net (without Buyer’s Premium, home warranty, or seller paid closing costs). If your buyer needs closing costs or home warranty paid by the seller, you’ll also add that amount to your bid so the seller’s net remains the same.

For example: If the winning bid is $400,000 plus 6% buyer’s premium, $424,000 would be the purchase price entered on the REPC. If your client also needs $5,000 closing costs and $500 home warranty, then $5,500 would also be added for a total of $429,500.

Keeping Track Of Your Bids. You will NOT receive a notification when your bid has been beat so you’ll need to follow the bidding if you want to stay the highest bidder.

Attention Highest Bidder! – Please submit a signed purchase agreement to the listing agent by noon the following day after bid closing at the latest. If your offer has conditions or contingencies the seller has concerns with, the seller may ask other bidders to submit a REPC also and choose the one they like best.

The Perfect Offer—

• All Cash with no appraisal and no due diligence or
• Desk Underwritten loan approval with no appraisal and committed cash to make up for a low appraisal
• Maximum 8 days Due Diligence with earnest money non-refundable
• 21 days financing
• Shortest closing date possible
• Dispute resolution SHALL use mediation
• Earnest money minimum 1% with $1,000 or more hard at execution
• Earnest money held at Brokerage rather than Title

Information deemed reliable but not guaranteed and subject to change without notice.