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Chapter 10 [Buyers]
Buyers' Benefits
The auction
online gives you access to better deals.
On the
Real Estate Price
Negotiator website you can see how much other buyers are offering for a
property, and this will give you an advantage. You can make a
bid as many times as you wish, on as many properties as you wish,
and at the same time. If you are looking for a bargain, you can buy
the one that you feel is the BEST DEAL.
There is no rush to make
an offer.
Unlike traditional
auctions that last only for a few hours, online auctions run for
days. This will allow you to organize yourself better. You have
enough time to find the right property, inspect the property and
compare to other similar properties; however, you have to make sure
that you make your bid prior to the end of the
auction.
If you really want it, you will get
it.
Traditionally in the sale of real
estate, many properties sell before potential buyers have a chance
to place an offer. The auction remedies this problem; it allows you
to bid as often as you wish without being potentially eliminated, as
is the case in the traditional method of selling real
estate. There is no rush for you to bid for fear of losing a
chance to buy your dream home. If you really want it, you can get
it. Using the AUTOMATIC BIDDER will eliminate your competition. The
AUTOMATIC BIDDER will increase your bid automatically if a bid
higher than yours is placed and continue to do so, until there are
no more bids, and YOU WIN!
The NonBinding Auction Method eliminates the
risk of buying above your maximum price.
If you are the highest bidder at the end of the
auction, you will be contacted by the listing agent to confirm the
sale. If for any reason you have decided that you do not want to
purchase the property, YOU HAVE NO OBLIGATION TO BUY IT! However, it
is your responsibility to inform the listing agent that you are
not interested in buying the property. This eliminates the risk of
buying a property that you feel is not worth the amount you
bid.
In general, because of various
local laws that govern the purchase and sale of real estate, when
you make a bid online to buy a real estate property, you do not
automatically create a binding contract between yourself and the
seller. In fact, you are just sending a message to the seller
explaining that if he/she will accept your offering bid, you
are "willing" to make an offer in writing. In order to have a
legally binding bid, there must be a contract signed by both parties
(sellers and buyers).
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