- What is bidEup.com?
- bidEup.com is the world's first automated legally binding online real estate marketplace.
- How do I register to sell my house on bidEup?
- You must be a real estate agent or represented by a real estate agent, builder, financial institution, government agency or other approved organization or company to be able to sell a home on bidEup. Once you meet this criteria you simply register a property on our website and send in photos to our staff for approval and the home will then be on the website for auction.
- Who can purchase property on bidEup?
- Anyone! In order to register, simply visit the site and follow the steps outlined on the site. To complete the registration process, each person or entity must be approved by a financial institution. Our Partner SuntTrust Bank can do just that on our site by a few clicks of a button.
- Can I register as both a buyer and seller?
- Yes. You may buy and or sell homes on bidEup.com
- Is there a minimum price that must be achieved by the person selling the home?
- In some cases the seller will set a reserve price. This is the minimum price they are willing to accept for the home. Should the reserve price not be met the home will not sell.
- I own a home I would like to sell via auction; can I post my own home?
- No. You must contact a licensed realtor to list your home in bidEup.com
- Will buyers have an opportunity to tour the property after they place a bid and change their offer?
- No. They must do all of their due diligence prior to placing their bid. Each bid is accompanied by an electronically generated contract/offer. Each bid is legally binding, once submitted it cannot be modified.
- Can a buyer tour a property before they place a bid?
- Yes. All all potential buyers are encouraged to tour a home prior to placing an offer.
- Will I be paid as the listing agent on a property I post on bidEup?
- Yes. Your current listing agreement with your seller will remain in effect while the property is being auctioned. You will receive all of the commissions due to you once the home sells. The buyer will pay bidEup a 1% fee for the use of the site.
- Will I receive commission on a property won at auction or otherwise sold on bidEup for a bidder I represent?
- Yes. So long as the listing is represented by a real estate agent and they are paying a commission on a buyer you will receive a commission. As with offline transactions, the Owner of the property sets the commission structure for each property. To determine what commissions are available you must check the terms listed in the property details section of the website.
- What happens if I find my own buyer and want to sell the home outside of bidEup?
- bidEup will under certain circumstances end a sale early at the seller's request. bidEup will still be due the 1% usage fee from the buyer should the sale end early per a seller's request and the buyer was introduced to the property via bidEup efforts .
- Does bidEup advertise the property at the site location?
- Yes. bidEup will place signs at the property notifying prospective buyers that the home is currently being sold online at bidEup.com.
- How should I direct potential buyers during the online sale event for a property?
- Our goal is to provide your listing with as many buyers as possible. Should you be contacted by a potential buyer during the online sale of your Property you should make the home available for preview and direct them to place their offer through bidEup. By doing so, you are giving the other potential buyer the oppurtunity to offer you a higher amount. Maximize your Property's value by directing all offers to bidEup and have the world compete for the oppurtunity to own your property.
Should you have any questions please contact us at 877-824-3387
