What Is homebids
homebids is a Hybrid between real estate auctions and traditional real estate. We took the best features from real estate auction and traditional real estate and created a process that works better than any other selling method in any market condition. The homebids method of selling real estate gives buyers and sellers more options when buying or selling real estate.
With the homebids option, real estate commission can be paid by the seller, the buyer or both. The buyer’s side of the commission is called “Buyer’s Premium”. (Highest Bid + Buyer’s Premium = Sales Price)
When selling homebids
- Sellers reserve the right to accept, negotiate or reject the highest bid. (No risk involved)
- Highest bid and bid history transparent. (displayed on the auction website at all times)
- No long term listing contracts
- Bidding process conducted online only
- Buyers approved for bidding manually by the seller or seller’s agent, or instant buyer approval online by credit card.
- No upfront fees required from seller
- No property inspections required prior to acceptance of the highest bid
- Once the highest bid is accepted by the seller, buyer goes into escrow with all buyers’ contingencies and inspection time frames in accordance with the purchase contract specific for the State where the property is located.
- Property will be available for viewing only at the open house dates (unless agreed otherwise)
Cutting edge Real Estate technology with full Broker representation and professional marketing specialists offer you the most advanced and efficient method of selling Real Estate.
homebids works in any market conditions and brings multiple offers on a property within 15 days or less in most cases. Sellers will be able to watch the entire process on their computer, from the comfort of their home or office. Sellers have total control and there is no risk involved because the seller reserves the right to accept or reject the highest bid. homebids option reduces the number of showings since the property will be shown at the open house dates only, (unless agreed otherwise). Prospective buyers are approved through the online system.
Unlike Real Estate Auctions, where buyers have to go in to escrow with no contingencies and non-refundable deposit, homebids is simply better. At the end of the bidding process, the buyer may proceed with a standard Purchase Agreement, with all buyer’s contingencies and inspection time frames.