What Is homebids
homebids creates a hybrid process that combines real estate auction sales with traditional real estate sales. We took the best features of each approach 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”. The Highest Bid + Buyer’s Premium = Sales Price. 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.
When selling homebids
- Sellers reserve the right to accept, negotiate, or reject the highest bid (No risk involved)
- Highest bid and bid history is completely 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 via instant approval online by credit card
- No upfront fees required from seller
- Once the highest bid is accepted by the seller, buyer’s agent submits formal, written, traditional offer that spells out all terms of the offer. If accepted by seller, buyer will go into escrow just as happens in the traditional process; buyer’s contingencies and time frames described in the written offer will be in effect
- Property will be available for viewing only at the open house dates (unless agreed otherwise)
homebids works in any market condition and brings multiple offers on properties in 8-15 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 always reserves the right to accept or reject any bid–even the highest one. The homebids option can simplify the process for sellers & make everything more convenient by reducing the number of showings. 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 must go into escrow with no contingencies and a non-refundable deposit, homebids is simply better. At the end of the bidding process, the accepted bidder will proceed with a standard CAR Residential Purchase Agreement that spells out all the buyer’s terms. If acceptable to seller, buyer will open escrow as in the traditional home purchase process.
We believe home buying should be transparent and convenient for both sellers and buyers. With our advanced technology, online marketing, and the human touch of a real estate broker we will sell your property in record time and save you thousands of dollars in commissions.