Pre- and Post-Auction Process

• After completing your property inspection and reading BankOwnedBids Terms and Conditions, register on BankOwnedBids.com and place your offer (see image below).
• Within two business days, deliver to BankOwnedBids.com a full offer package that includes: purchase agreement, signed corporate disclosures, proof of funds or bank pre-approval, Earnest Money Deposit, and if the buyer represents a corporation, the articles of incorporation and written authorization that you are to sign for the company. The corporate disclosures are available through the listing office.
• Your offer won’t be submitted to the seller until the complete offer package is in hand.
• Your offer will be considered to be your highest and best.
• All pre-auction offers must be submitted 72 hours prior to the start of the auction.
• All pre- or post-auction offers will be submitted to the seller, not just the high offer.
• Auction terms still apply, including the 5 percent or $750 buyer’s premium added to the offer price and the $375 default fee charged by BankOwnedBids.com only if your offer is accepted by the seller and you fail to close (Please see terms and conditions).

Please note that:

•  Being represented by an agent is not required, but it is recommended as you compile your offer package.
•  Representation is free to the buyer. The seller pays the commission of both the buyer’s agent and the listing agent.
• You can find help by contacting BankOwnedBids.com, the listing office, or any other real estate office, and an agent will be happy to assist you.

Any questions? Please email info@bankownedbids.com