In order to place an offer on any property available, you must either provide Proof of Funds if paying in cash OR a FULL Underwritten Loan Approval Letter From A Mortgage Lender prior to getting access to the offer area.
You can get the loan approval started by clicking here
CLICK HERE to register for access to the Online Offer Platform.
Upon acceptance to our Online Offer Platform, you will receive access to make bids/offers on properties that meet your criteria.
Working with a licensed Real Estate Agent is required. Upon submitting the highest offer, a signed IA or IL purchase contract prepared by a Iowa or Illinois licensed Real Estate Agent must be submitted within 24 hours after the said offer along with the earnest money to be deposited with an escrow agent.
A licensed Real Estate Agent must prepare those documents and initiate the process.
If you have an Agent, the registration page will provide you with the option of entering your agent’s contact information. Our agents will contact them and review the auction procedures. Or, you will have the option to have one of our Agent’s contact you.
Our agents are experts in this process and can guide you through the entire auction process from beginning to end and answer all of your questions. They can also explain the financial benefits of working with us.
What is the “Agent Compensation”, or sometimes referred to as the “Buyer’s Premium” ? – Using our Online Offers Platform, real estate commission can be paid by the seller, the buyer or both. The buyer’s side of the commission is called “Agent Compensation”. (Highest Bid + Agent Compensation = Sales Price)
This is the MOST transparent way for a seller to offer the lowest price on their home and still compensates the real estate agents who conduct and close the transaction.
Each property listed on our web site will offer different terms, conditions and Agent Compensation, so be sure to research the property and all of the details on the property bid page.
Property will be available for viewing only on the day(s) of the open house (unless agreed upon otherwise)
Buyers must be approved for making offers manually by the seller or seller’s agent.
Sellers reserve the right to accept, negotiate or reject the highest offer.
An online offer is a binding agreement and a seller can legally pursue a non-performing offeror.
Be sure to contact us if you have questions on the Online Offer process.
Terms You Should Know:
AutoOffers: The system can be set to automatically enter offers for you. You choose your starting offer (cannot be less than the starting offer) and then determine the increments your offers can increase. (must be at least or more than the minimum increments listed on the property page.)
Then, you enter the “maximum” price you are willing to pay.
The system will begin to activate your offers 6 hours before the end of the auction. If other auto-offers are set, the system will manage the process of “offer submission” until your maximum offer has been met.
If another participant has a higher “maximum offer” the system will continue the offer process.
Of course, if you change your mind on the day of the online offer, you can login to your account and manually submit additional offers.
At the time all auto offers have been submitted participants can still continue to submit offers manually.
One hour before the offering ends, ALL participants will start to receive offer updates via e-mail. However, you can monitor the screen for real time updates and offers.
Bidding Auto Extend – 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 2 minutes in order to allow other bidders the opportunity to respond.
Attention Winning Bidders
If You Are The Winning Bidder: Please have your agent submit a signed purchase agreement to the seller’s agent within the time specified in “sale terms and conditions” (please see the posting details). If you do not have an agent, you may CONTACT US direct at 563-579-3939.