Call Us
916-677-7446
Email Us
homes@paulconti.com
License
Cal BRE 00599473

Q & A On How It Works!

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Buyer:“How does the bids work?”Agent:“Buyers go on my website and bid on the property. The highest bid is transparent and is displayed at all times. This is a big advantage for the buyers vs. traditional sales where buyers don’t have the option of knowing how much the other offers are.”Buyer: “How can I bid on the property?”

 

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Agent:“In order to bid on the property, you have to be approved. There are two ways of getting approved: By using your credit card (used for identification purposes only) which is instant approval. Your credit card is not going to be charged unless you are the winning bidder accepted by the seller and you fail to provide a purchase contract. In this case there will be a penalty of $500.00 charged to your credit card.
The second option is manual approval. I will require information such as pre-approval letter from a lender and/or proof of funds. You will have to register on my website and provide me the email that you registered with and I will approve you manually.”
Buyer: “What if I bid just a few seconds before the auction ends? Can someone else still overbid me?”
Agent:“Our system Prevents Last Second Bidding by Automatically Extending the Bidding Time. If a bidder places a bid within 5 minutes of the end of the bidding time, the system will automatically extend the bidding time by 10 minutes in order to allow other bidders the opportunity to respond.”

Buyer: “When can I bid on the property?”Agent:“You can bid on the property anytime from the beginning to the end of the auction. There is a countdown timer on the website that shows the remaining time and also the date and time when the auction ends is displayed.”

Buyer:“What are the bid increments?”

Agent:“The bid increments are $1,000, but you may place your bid up to the “maximum high” that you are willing to offer on the property. The system is designed to raise your bid in increments of $1,000 above the last bid placed only. Example: If the current bid is $100,000 and you set your “maximum high” of $150,000 the system will raise your bid only to $101,000 and you will be shown as the high bidder. If someone places another bid of $102,000, the system will automatically increase your bid again to $103,000 and so on. If someone, places a higher bid, say $120,000 the system will automatically increase your bid to $121,000 and so on. However, if someone places a bid of $151,000 or greater this person will be selected as a high bidder and the system will no longer increase your bid since your “maximum bid” would have been exceeded. You will be notified by email that you have been overbid and you’ll have the option to increase your bid amount.”

Buyer:“How does the Buyer’s Premium work? Do I have to come up with additional funds on
top of the sales price?”

Agent: “You have 24 hours to provide the purchase contract. If you fail to provide the purchase contract, seller has the right to accept any other offers. Your agent should write and submit the offer for you. If you don’t have an agent, I will be more than happy to do it for you. After the seller’s acceptance, everything follows just in any other regular sale. Buyer will go in escrow with all buyer’s contingencies and inspection time frames.”

Buyer: “I would like to submit an offer right now without participating in the auction. Can I do that?”

Agent:

“ If there are no registered buyers, you can submit an offer and if the seller will accept it we can stop the auction. If there are registered buyers waiting to bid on the property, we can not stop the auction. You will have to bid on the property”

Hope this helps. If Not Call  or Text Paul Conti @  916-677-7446

If your a future seller and want to get on our program it would be a win win for you, so many have enjoyed the experience for Buyers and Sellers. There is no where else a Buyer can bid on a property without coming in with cash and having to have a big pocket book plus no be able to see the bids as they happen.  As for Sellers you can get the most reasonable price without over pricing your home and have to start reducing the price and let your home sit on the market because of bad marketing. We have SOLD over 1,000 homes. With our 38 years experience we know what works.

Call  or Text Paul Conti @  916-677-7446