FAQ
Is registration required?Well, that depends on what you want to do. If you're just "window-shopping," you don't need an account. However, if you're planning on buying or selling, you do have to sign up for a FREE account. All we ask for is some basic information so registering only takes a minute or two. Register Now!
How do I bid on properties?
We've got an entire page dedicated to the ABCs of bidding. Learn how to bid.
Is there a minimum bid price?
No. You can bid whatever you'd like. However, a seller does not have to consider your bid if it does not meet the reserve price set for the property.
What is a reserve price?
A reserve price is simply a minimum bid that a seller will accept for a property. If a seller has a reserve price, it will be listed on the property description.
How will I know if the reserve has been met?
The property listing page will always have up-to-date information on a property auction. That includes the current bid, current high bidder, time remaining in the auction, and whether the reserve has been met.
Are there fees associated with buying or selling?
There is no fee to bid on a property.
There is no fee to list a property.
There are fees associated when a property is purchased / sold. Those fees include anything that would be paid during any other real estate transaction-closing costs, commissions, lender's fees, etc. Who (buyer or seller) pays what depends on the contractual terms for each property. There is also our 1% transaction fee, which is paid by the buyer.
What happens if I change my mind about a bid?
If you're the winning bidder and decide not to purchase the property, you'll be required to pay a $350 fee for reneging on the deal. So, bid with the expectation of winning and purchasing the property.
What happens if I change my mind about selling?
There is no penalty for deciding not to sell before selecting a winning bidder. If you select a winning bidder and then decide not to sell the property, you'll be required to pay a $350 fee for reneging on the deal.
How do I sell properties?
That's easy. First, click here to register as a site user. After that, call us at 770-971-8125 and we'll get your listing up on the site ASAP!
Who wins the bid?
Unlike some sites, we don't have a bunch of contingencies and confusing scenarios in place to determine who wins a bid. On our website it's simple. The highest bidder is the winning bidder but the seller can decide not to go through with the sale if the reserve price hasn't been met.
What can winning bidders expect?
Once an auction ends and a winner is chosen, everything else that occurs is exactly like a traditional real estate transaction; you'll receive a contract from the seller, make the necessary financial arrangements, and then close on your property! Bidder is to be prepared to close within 30 days of auction close unless seller agrees to change the time frame.
How will I know if I'm outbid and what do I do?
You'll receive an e-notification at the email address listed on your account letting you know if someone outbids you. As for what to do, well, submit another bid and win your property!
Do you offer any help with financing?
Right now, we're focused on making sure that investors have great properties to choose from and that sellers have the opportunity to work with serious buyers. So, for now, we do not offer financing assistance through the site.
Do you have an automatic bidding feature?
No way! Keeping tabs on what's happening with an auction is part of the excitement. Besides, we want active investors who know a great investment when they see it, and will do what it takes to get it. So, if you really want a property, go after it with a bid that you think will win it for you, and we'll help you keep tabs on the auction so you'll know if you need to submit another bid.
Can real estate agents earn commissions on sales through the site?
Of course! If an agent's fee is offered, you'll earn a commission. The percentage you'll earn will be listed on the property page of the website.
