Bidding Process:

Agents may bid Online for their clients until Thursday, April 29, 2021 at 7:00 PM MDT. (If you do not have an agent, please contact the listing agent prior to the bidding).

6% Buyer’s premium (which covers auction fees and brokerage fees) is added to the winning bid which establishes the final sales price on the REPC. Highest Bid + Buyer’s Premium = Sales Price. Agents may bid online for their clients until Thursday, April 29st at 7:00pm.  (If you do not have an agent, please contact the listing agent prior to bidding).

The seller reserves the right to accept, reject, or counter any offer.

Traditional Transaction. Once the seller selects the winning bid and both parties sign the REPC, the entire process will proceed like a traditional real estate transaction with disclosures, contingencies, etc.

*******IMPORTANT DETAILS*******

In order to place a bid/offer on any property available, the buyer’s agent must register first.

By creating your account, you agree to accept these Terms and Conditions of the offer process AND this bidding platform.

Bidders must either provide Proof of Funds if paying in cash OR an Approval Letter From A Mortgage Lender prior to bid closing or your bid may not be considered.

We STRONGLY encourage you, as the agent, to login to your account long before the end of the bidding time. It is IMPORTANT to understand the steps and functionality needed to place your bid well before the offer time ends. Technical or agent support may not be available after 12:00pm on the final day.

Auto-Offer Option – If you select the Auto Offer option (located just below where you enter your bid price), you can enter the maximum amount you’re willing to bid for this property and the system will place offers for you every time your offer is outbid, up to your confidential maximum.

Auto Extend 5 More Minutes – Our system prevents last-second bidding by automatically extending the bidding time 5 more minutes if a bid is placed within the last 2 minutes to allow other bidders the opportunity to respond. This means there is no advantage to place your bid on the last day or final minutes, since all bidders will have plenty of time to respond, no matter when your bid is placed.

Seller Paid Closing Costs. All bids are placed at seller’s net (without Buyer’s Premium, home warranty, or seller paid closing costs). If your buyer needs closing costs or home warranty paid by the seller, you’ll also add that amount to your bid so the seller’s net remains the same.

For example: If the winning bid is $450,000 plus 6% buyer’s premium, $477,000 would be the purchase price entered on the REPC. If your client also needs $5,000 closing costs and $500 home warranty, then $5,500 would also be added for a total of $482,500.

Keeping Track Of Your Bids. You will NOT receive a notification when your bid has been beat so you’ll need to follow the bidding if you want to stay the highest bidder.

Attention Highest Bidder! – Please submit a signed purchase agreement to the listing agent by noon the following day after bid closing at the latest. If your offer has conditions or contingencies the seller has concerns with, the seller may ask other bidders to submit a REPC also and choose the one they like best.

The Perfect Offer—

• All Cash with no appraisal and no due diligence or
• Desk Underwritten loan approval with no appraisal and committed cash to make up for a low appraisal
• Maximum 8 days Due Diligence with earnest money non-refundable
• 21 days financing
• Shortest closing date possible
• Dispute resolution SHALL use mediation
• Earnest money minimum 1% with $1,000 or more hard at execution
• Earnest money held at Brokerage rather than Title

Information deemed reliable but not guaranteed and subject to change without notice.

SELLER RESERVES THE RIGHT TO ACCEPT, COUNTER OR REJECT ANY OR ALL OFFERS!

Buyer’s Premium 6% (built in the contract price. Buyer’s premium will be added on top of the winning offer which shall establish the final sales price.

Highest Offer + Buyer’s Premium = Sales Price!

The winning Offeror shall provide a purchase contract within 24 hours from the time of acceptance of the winning offer by the seller. If the buyer will not provide the purchase contract within the time frame specified above, the seller reserves the right to accept other offers!

Notice to the winning Offeror If you are the winning offeror selected by the seller at the end of the process and back out without submitting a purchase contract, you may be liable for a $500 penalty fee and will be invoiced for that amount.

*******IMPORTANT DETAILS*******

In order to place an offer on any property available by auction, you must REGISTER and create an account at the URL above. If you are working with an Agent, you will need to provide us with their contact information.

By creating your account, you agree to accept AND you understand the Terms and Conditions of the auction process and this offering platform.

In addition, 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 offering area. Registration and documents must be received NO LATER than 12:00 pm PST the day of the auction.

If you are not registered and/or you have not provided suitable documentation by 12:00 pm on the day of the auction, you will NOT be allowed to offer on a property!

Also, we STRONGLY encourage you or your agent to login to your account prior to the end of the offering time on the property you wish to offer on. It is IMPORTANT to understand the steps and functionality needed to place your offer. Technical or agent support will not be available after 12:00 pm on the final day of the auction.

Auto Offer Option – You may place your offer up to the “maximum high” that you are willing to offer on the property. The system is designed to raise your offer in increments of $1,000 above the last offer placed only. Example: If the current offer is $100,000 and you set your “maximum high” of $150,000 the system will raise your offer only to $101,000 and you will be shown as the high offeror. If someone places another offer of $102,000, the system will automatically increase your offer again to $103,000 and so on.

If someone places a higher offer, say $120,000 the system will automatically increase your offer to $121,000 and so on. However, if someone places an offer of $151,000 or greater this person will be selected as a high offeror and the system will no longer increase your offer since your “maximum offer” would have been exceeded.

Offering Auto Extend – Our system Prevents Last Second Offering by Automatically Extending the Offering Time. If an Offeror places an offer within 5 minutes of the end of the offering time, the system will automatically extend the offering time by 5 minutes in order to allow other offerors the opportunity to respond.

Attention Winning Offerors! – If You Are The Winning Offeror: Please have your agent submit a signed purchase agreement to the seller within the time specified in “sale terms and conditions” (please see the posting details). If you do not have an agent, please Contact Us.