bidEup!
- How the Site Works
- All visitors must agree to the [Terms of Use] in order to to have complete access to this Site.
- bidEup.com will only allow properties currently listed by Realtors or those that are owned by financial institutions, certain corporations or Government Agencies, to be posted on the Site. If you are a property owner who is interested in using this Site but you do not have a real estate agent, you should know that bidEup strongly believes Realtors provide essential services to sellers in connection with real estate transactions of all types and sizes, including auctions. Consequently, you will have to establish a relationship with an agent before using this site to sell your property.
- bidEup.com is not a real estate broker; rather, we are the first onlne legally binding virtual marketplace. We work with Realtors who understand that access to our marketing web can produce a simple, quick sale. Your property may require more than a traditional listing to sell in the current market. Please have your agent contact us to start the process. Your Realtor will earn the sales commission that you and your agent have agreed to. If the listing agreement provides for a commission to a selling agent, it will also be paid at settlement. Your agent will provide valuable assistance to you in the online auction process, from pricing to preparation to presentation and more. You will also need to prepare and submit the usual and customary legal disclosures.
- As bidEup.com is a tool for Realtors, some of the marketing for the online sale is done on their end. Realtors announce the upcoming online sale\auction on the local multiple listing service, in local publications and on the ground. While Realtors work locally, bidEup.com works on a world wide stage to promote the property to other potential buyers, and provides them the tools to properly evaluate the property prior to their purchase. The involvement of Realtors in the bidEup process significantly deepens the buyer pool for your property.
- Sellers who sell through bidEup typically pay little more than they do with a traditional listing. The listing agreement between Seller and Listing Broker will be enforced. Our standard $125 online marketing fee is the only required seller charge. Sellers have the ability to create additional exposure for their properties by purchasing marketing upgrades, such as signage, text messaging packages, virtual tours, and others.
- For one low flat fee, Sellers obtain access to bidEup's revolutionary platform which, in order to buy on the Site, requires prospective buyers to register and be approved by one of our national lender partners. Only buyers who have proven their financial ability to consummate a transaction will be permitted to place an offer or bid.
- Typically the window for purchasing a property will last between 14 and 21 days. During this window, buyers will be able to conduct inspections and other investigations concerning the property. Before submitting an offer\bid, buyers are provided the terms of the Sales Contract to which the winning buyer will be legally bound. As a Seller, you will have agreed to be bound to these same terms (exclusive of purchase price) by executing with your agent our Online Marketing Agreement. The Sales Contract contains straightforward terms which lay out the steps for a smooth, quick settlement. And, because each offer\bid is accompanied by the buyer's electronic signature, Sellers get a ratified, enforceable Sales Contract once an offer reaches the predetermined Reserve Price(if any). Settlement is scheduled shortly after the sale closes. bidEup's patent-pending mechanism for uniting buyers and sellers goes a long way toward removing uncertainty from the sale process.