A. No bid shall be accepted without proper registration. Registration shall include the registration form, bid submission form and verification of bidder's identity and deposit source.
B. No bid shall be accepted without submission of the online contract and online bid submission forms. Contacting sellers or buyers outside of the homebidxpress service to formulate or negotiate a bid or price is strictly prohibited.
C. Bidder must increase their bids over any existing bids by the stated increments on the property feature sheet.
D. At the close of the 72 hour Sales Event, the seller shall have 24 hours to accept or reject the highest bid.
E. The "Highest Bid" shall be defined as the highest net dollar to the seller.
F. Bidders shall be notified by email within 36 hours after the close of the bidding as to the status of their bid.
G. Both the seller and the buyer agree to execute a written offer to purchase within three (3) business days from the notification of buyers's acceptance. Said written contract shall include the same terms and conditions as stated on the online contracts and terms.
H. At such time the seller and the purchaser enter into and sign the written agreement purchaser agrees to tender the agreed upon deposit at that time.
I. No agency relationship is or shall be established between the bidder or the seller of owner listed properties on homebidxpress.com. All properties listed by First Agency Group, Real Estate Services shall include an Agency Disclosure form.
J. A security deposit of no less than $500 shall be tendered with the written agreement. *See actual deposit requirement listed on the property feature sheet for the home you are interested in bidding on.
K. All disclosure forms required by the seller (i.e. property condition and lead paint) shall be available at the Open House and should be in the possession of the bidder prior to making a bid.
L. In the event of an online server or power failure to the homebidxpress.com site which disables the site from receiving bids, then homebidxpress.com can extend the bidding time to allow for a fair and equal chance for all bidders. Each registered bidder will be notified by email of this process.
M. Realtor participation shall be allowed on any properties listed on homebidxpress.com that are listed by First AGency Group. Real Estate Services and they shall be paid 3% (unless otherwise stated) on the sales price only upon the successful closing of the property. Realtor participation may or may not be allowed on owner listed properties. On the property features sheet at homebidxpress.com, the owner will state if they are willing to pay a Realtor commission and at what rate.
N. Realtor information MUST be included on the registration and bid submission form at the time of the first bid or no commission shall be paid.
