Auction Process
Auctions will open and close on various days throughout the week. All auctions will be 14 days in length. Comments, questions, and showings are recommended throughout the 14 days. Each Listing will have designated days and times for Open Houses. This should give potential buyers ample time to get all question answered.
Bidding
The offer process is as easy as entering in a price above the current price along with terms and pressing submit. Your bid will be submitted to the seller for review of terms. If accepted by the seller, it will appear as a bid. If it is not accepted as a bid, you will be notified.
The Seller will have the options of accepting the offer as current high bid or rejecting. Keep in mind this will only become the high bid, not necessarily the final sale price. There is a contact seller button to get clarification if necessary.
Crunch Time: For the last 3 minutes of the auction, every new bid will reset the clock back to 3 minutes. Upon submission of a new bid during “Crunch Time” the Seller will have 1 minute to accept the offer as the high bid. Clock will reset to 3 minutes and the bids will continue. Due to this bidding process, auctions may close later than the scheduled time.
Fees
Seller’s Fee: List a house $150.
.25% of the final sale price of the listing.
Buyer’s Fee: No fees, bid away.
Comments
It is important to comment and ask questions about the houses listed. All sellers should be as responsive and detailed in their answers as possible. All buyers should be as respectful as possible in their comments. Needless to say, it is ok to not like a house or point out something to community, just be nice about it! In order to comment you need to register, which can be done here.
Submission Process
Please use the submit a house tab or click here to submit your listing for review. The more detailed info and pictures we receive the better. We will give you an answer within 3 business day. If accepted, we will send you a link for payment of the listing fee. After payment your listing will begin it’s assembly process and usually go live within 2 weeks, if not sooner. We will cordinate the live date with MLS live date.
Auction Post Sale Process
After a listing has been won, an email will go out to the winning bidder and the seller with each other’s contact info. Per terms of offer, an earnest money deposit will be made, schedule of property inspections, and communicate with your mortgage lender to start the loan process if applicable communication.