About BidDirect
The fastest way to get REO deals done on the net!
RealtyBid.com is now offering a unique online destination where you can "bid directly" to a highly motivated group of national financial institutions and government agencies that have a history of aggressive pricing and a no-nonsense approach to REO sales. You can rest assured that you are not wasting your time on this website. The BidDirect Program is not an auction program but rather an online platform in which you can bid directly to the seller's representative. Through BidDirect, you can get your bids presented in a fully transparent and expedited manner. Each bid is presented immediately. The seller may continue to take offers outside of BidDirect, but no one can get a response faster from these particular sellers than our team, which was ranked as the #1 Sales Team in the U.S. in 2007 and 2008.
BidDirect Overview
BidDirect properties are available on a "first come, first served" basis. Only bids placed at or above the Seller's undisclosed threshold will be allowed for consideration by the RealtyBid.com system. Bids which are allowed are sent to the appropriate seller representative to undergo a review process and will be presented to the Seller once that review process is complete. A response from the Seller may take approximately 48 hours (excluding weekends). You will be notified via email with the results as soon as this process has concluded. After review by the Seller, if a bid is accepted, the contract process will begin.
Fees:
- A two hundred fifty dollar ($250) Internet Transaction Fee is required in addition to your Bid Amount if you are represented by a Buyer Agent and enter the agent's contact information when placing the bid or if the Buyer Agent placed a bid for you. For example, if the bid price is $100,000, the total Purchase Price would be $100,250 (if you are represented by a Buyer Agent) and this price does not include closing costs.
- If you are NOT represented by a Buyer Agent, the $250 Internet Transaction Fee is waived.
NOTE: Until the bid is accepted and coded as Sold in the Seller's Internal Tracking System, additional bids can be placed by other bidders. If multiple bids are received, the Seller reserves the right to call for a One-Time Highest and Best Bid Request among the bidders. When this occurs, competing bidders will typically have one day to submit their highest bid.
The Bid History for a BidDirect property indicates if other bids have been placed, but it does not state those bid amounts to the other bidders and is NOT available by calling or emailing RealtyBid.com.
Due diligence should be conducted prior to placing a bid.
The Seller reserves the right to reject any offer submitted by RealtyBid.com for any reason. Although a property may be coded Pending on the RealtyBid.com website, this does not guarantee that you will be awarded the property. The Seller reserves the right to review and consider any additional bids until the Purchase Agreement is signed by both parties and the property is coded as Sold in the Seller's internal system.
