Your Realtor lists your property in the local Multiple Listing Service(MLS) and with BidOnRealty.com, utilizing our Fastrack Selling system to sell your home in 30 days or less. The auction sales method is growing rapidly, and is not just for distressed properties. Quite the opposite, in fact. Whenever two or more parties are interested in purchasing your property, the auction method ensures the highest sales price possible is realized.
If you owe more than the current value on your home, and are unable to make up the difference upon sale of the home, then you are a candidate for a short sale. There are two types of short sale: Approved or Non-approved.
An approved short sale is when you, your Realtor and your lender have agreed upon a price at which the lender will approve and accept the "short" payoff. The problem is, the amount approved by your lender is usually still above any offers that you receive, and you are forced to renegotiate with your lender, which can take months.
In a Non-approved short sale, none of the preliminary negotiations with your lender have taken place, or have not come to a conclusion. Therefore, no acceptable price has been approved by your lender. In practice, approved is really no better than Non-approved, since a full price approved offer is rarely, if ever made.
With BidOnRealty.com, your Realtor utilizes our Fastrack marketing process consisting of an intense, urgency creating, 25 day ad campaign and preview period, culminating in a 5 day online auction of your property.
Upon completion of the auction, and with signed contract in hand, you and your Realtor can clearly demonstrate to your lender that the winning bidder's contract is indeed the best offer possible. This greatly increases your leverage with your lender to accept the offer, and get the sale closed, so you can move on with your life. And the best part is. . .
There are absolutely zero seller fees to utilize this system.
BidOnRealty offers REO Managers the best overall solution for liquidating your properties. You get the "hands on" expertise of a local Realtor whom you have chosen to list your property and the ability to hold an auction of that property. Realtors utilize our Fastrack selling process to more effectively target interested buyers than a large, impersonal auction company using the "shotgun" approach. As an REO Manager you know, auctions are the most effective way to liquidate your properties quickly. With BidOnRealty, you get the best of both worlds – A Realtor and an auction.
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