Pre-Sale Bidding Overview
During the Pre-Sale period, the property is available on a "first come, first served" basis. Only Pre-Sale bids placed at or above the Seller's undisclosed acceptable threshold will be allowed for consideration by the RealtyBid.com system.
Pre-Sale bids which are allowed by our system undergo an internal review that may take up to 3 business days. You will be notified via email with the results as soon as this process has concluded. After review, if a Pre-Sale bid is accepted by RealtyBid.com, the contract process will begin for that bidder. However, at that time, your bid has NOT been presented to or accepted by the Seller. Your bid will only be presented to the Seller after your buyer-signed purchase agreement and earnest money deposit (EMD) are returned to RealtyBid.com.
NOTE: Until the bid is accepted and coded as Sold in the Seller's Internal Tracking System, additional bids can be placed by other bidders. If multiple bids are received, the Seller reserves the right to call for a One-Time Highest and Best Bid Request among the bidders. When this occurs, competing bidders will typically have one day to submit their highest bid.
Bid History for a Pre-Sale property is not disclosed to other bidders and is NOT available by calling or emailing RealtyBid.com.
When placing a bid, please remember, the Purchase Price for a property will be the Bid Price submitted plus a 5% Internet Transaction Fee. For example, if the Bid Price is $100,000, the total Purchase Price will be $105,000. This price does not include *closing costs.
NO financing contingencies or inspection contingencies will be allowed on Pre-Sale properties. Financing and inspections are allowed; however, the Purchase Agreement will NOT be contingent upon either. Due diligence should be conducted prior to placing a bid.
The Seller reserves the right to reject any Purchase Agreement submitted by RealtyBid.com for any reason. Although a property may be coded as Pre-Sale Pending on the RealtyBid.com website, this does not guarantee that you will be awarded the property. The Seller reserves the right to review and consider any additional bids until the time a property is coded as Sold in the Seller's internal system and the Purchase Agreement is signed by both parties.
If the Purchase Agreement is executed by the Seller, a copy will be forwarded to the Bidder and/or Buyer Agent by a member of our Closing Department and a closing will be scheduled for the property. Should your bid be rejected by the Seller, you will be notified by RealtyBid.com.
To place a bid lower than what is required in the Pre-Sale bidding period:
You can wait and place bid(s) in the Online Bidding Event beginning at the time and date mentioned on the property's bid page, but only if the property does not sell in the Pre-Sale bidding period.
*For assistance in determining closing costs, you may contact the assigned closing agency. Please contact our Customer Service Department for the closing agency contact information by clicking here. Please include the RealtyBid.com property number and property address in your request.
