RealtyBid - How To Bid
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How To Bid - Individual

To place a bid on a property, follow these simple steps:

Step 1 - Register to Bid

To bid, you must first register on the site. Registration is currently free, but it is necessary to establish a Screen Name and Password. Register now.

Note: A credit card is required to register for bidding to ensure that you are of legal age to purchase real estate and that you are a real person. There are NO fees for registering or bidding and NO fees will be billed to your credit card for bidding or purchasing real estate on this website.

The only time a charge could be processed on your credit card is if you are in default of a purchase due to a fault of your own.

Step 2 - Place a Bid

When you are ready to place a bid, you may do so from the property’s Bid Page by clicking the Place Bid button to the right of the photograph. You will prompted to enter the Screen Name and Password that you selected when you registered. From this point, you will either bid the next bid increment, or you can enter a higher bid. You may also login to the system using your email address and password, and then place your bid. The bid process remains the same.

Note: The required bid increment will be indicated on the property’s Bid Page. Also, the RealtyBid.com Internet Transaction Fee is posted on the Bid Page. This is the amount you will pay RealtyBid.com in addition to your bid price at the closing. When you bid, you will have the opportunity to enter your maximum bid and have the RealtyBid.com system bid for you while you are away from your computer. This is a great feature called BidAssist™; we highly recommend that you use BidAssist™ to make bidding easier and more effective for you. To learn more about BidAssist™, visit Helpful Site Features in the Learn section of the web site.

Once you submit a winning bid, you will receive an email with instructions on how to proceed with the purchase of the property.

Property Inspections:

Properties are available for viewing and inspection by contacting the property’s listing agent. The listing agent’s name and contact information is indicated in the upper right corner of the property’s Bid Page. It is recommended that you view the property prior to bidding. If you do not view the property prior to bidding and you win the property, you will still be required to accept the property regardless of its condition. Unless otherwise noted within the property information, all properties on RealtyBid.com sell as-is, where-is, with no contingencies for inspection or financing.

Default:

If you are a winning bidder and you fail to complete the closing process due to fault of your own, a $500 penalty fee will be charged to your credit card. All Bidders are responsible for their own financial arrangements unless otherwise indicated on the property's Bid Page.

Approval of Bids:

RealtyBid.com reserves the right to notify you of an approval of your bid for up to five business days after the conclusion of any auction. This allows our sellers time to evaluate your bid, speak with their agents and advisors, then communicate that approval back to the RealtyBid.com staff.

Rejection of any Bid:

RealtyBid.com's sellers reserve the right to approve or reject any bid on this website regardless of how that bid is made, whether or not it exceeds the reserve price and whether or not it is the highest bid placed. Bank property sales typically require a final review and approval by the bank's managers. No bid shall be deemed fully approved by the seller until a written contract has been executed by both parties, regardless of the nature and circumstances of that potential transaction.