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. homebids method of selling real estate gives Buyers and Sellers more options when buying or selling real estate. With 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” and it’s included in the sales price. (Highest Bid + Buyer’s Premium = Sales Price)
When selling with homebids:
- Sellers reserve the right to accept, negotiate or reject any bids. (No risk involved)
- Highest bid and bid history transparent. (displayed on the 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 winning bid
- Once the winning 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)
homebids works in any market conditions and brings multiple offers on a property within 8 days 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, negotiate or reject any bids. homebids option reduces the number of showings since the property will be shown at the open house dates only (unless agreed otherwise).
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.
The whole process is transparent and convenient, that’s why Sellers and Buyers like it. Why getting bound by 6 months or longer listing agreements, when homebids delivers in 8 days in most cases? Choose a method that gives results. Think outside the box. Technology is changing very rapidly the real estate industry. Let our advanced technology, online marketing campaigns, and the human touch of a real estate broker sell your property in record time and save you a lot of $$$ in commissions.