Pre-Sale Bidding Overview
If a property is flagged as "Pre-Sale" on RealtyBid.com, this means that the Seller has opened early bidding only to those who intend to own the property as an owner occupant.
Meet or Exceed the Property's Reserve
In the event that an owner occupant does not meet or exceed the property's reserve at the end of the Pre-Sale auction, that property will then be offered through a regular RealtyBid.com 14-day online auction.
Failure to execute a Pre-Sale contract
Failure to execute a Pre-Sale contract within the required timeframe will nullify the winning Pre-Sale bid, leading to the property being re-offered through a regular RealtyBid.com 14-day active auction.
Start of the 14-day Active Auction
For the start of the 14-day active auction, the Pre-Sale bids will be removed, and a new starting bid will be set. In the active auction, both owner occupants and investors are eligible to bid on and win the property.
Please note all properties are sold "as-is/where is" with no contingencies.
The Seller reserves the right to reject any purchase agreement submitted by RealtyBid.com for any reason. Although a property may be coded as Pre-Sale Pending on the RealtyBid.com website, this does not guarantee that the Pre-Sale winning bidder will be awarded the property. The Seller reserves the right to review and consider any additional bids until a time a property is coded as Sold in the Seller's internal system and the Purchase Agreement is signed by both the Buyer and the Seller.
If the Purchase Agreement is executed by the Seller, a copy will be forwarded to the Bidder and/or Buyer Agent by a member of our Closing Department, and a closing will be scheduled for the property. Should your bid be rejected by the Seller, you will be notified by RealtyBid.com.