Terms & Conditions

1. DECLARATION: This Online Bidding program is being conducted by Bid Now Real Estate for the sole process of marketing said property online to potential bidders and is not owned by any real estate brokerage unless otherwise disclosed.

2. REGISTRATION: To participate in bidding online, each bidder must register at www.BidNowRealEstate.com. If the bidder has a real estate agent representing them or has viewed the property with any real estate agent, the bidder must disclose and register that agent’s name prior to bidding. Agents representing bidders must be registered with www.BidNowRealEstate.com as their bidder’s agent prior to bidder bidding online. All unrepresented bidders shall be represented by an agent of the listing firm. NOTICE-If you are a bidder and have seen the property you are bidding on with a licensed real estate agent, you must disclose their name and information prior to bidding.

3. VIEWING PROPERTY, DOCUMENTS AND WARRANTIES: It is the responsibility of each bidder to view the property prior to bidding. Bidders may not be approved to bid by www.BidNowRealEstate.com if they or their agent have not physically viewed the property. The bidder should also review the documents concerning each property they are interested in purchasing. The following documents will be needed and are available from the listing agent on each property:

     A) Offer to Purchase and Addendum(s): The winning bidder will be need to complete a current state approved Real Estate Offer to Purchase and all appropriate Addenda(s) and disclosures to the Offer to Purchase within 24 hours upon the closing of online bidding and notification of the bidder being the winning bid.

     B) Real Estate Condition Report: (RECR) Filled out by seller and supplied by listing agent. (NOTICE: Institutional and fiduciary sellers, court, government agencies, banks, and trustees have not occupied the properties and may have no information to provide for disclosure.)

     C) Property Inspections: The bidder affirms that they have either viewed the property in person or have received and viewed all disclosures. If property is pre-inspected, Seller agrees to provide bidders with a copy of seller’s inspection for informational purposes only and is not intending the inspection report to limit the bidder’s opportunity to have their own inspection performed at bidder’s expense. All properties that are offered for sale are without any expressed or implied warranties and sellers may not participate in repairs or credit for repairs.

4. PRE-INSPECTED PROPERTIES: Pre-Inspected properties are properties that have been inspected by a licensed inspector at no cost to the bidder. All Pre-Inspected properties are marked online and include a copy of the inspection for the bidder to view free of charge.

5. SUBJECT TO SELLER’S APPROVAL: All properties sold “Subject to Seller’s Approval,” Seller reserves the right to accept or reject any or all bids within 24 hours. In the case of a short sale, the seller’s lender (3rd party) has 30 days to approve the short sale offer. The seller or www.BidNowRealEstate.com reserves the right to remove any properties from online bidding at their sole discretion. 

6. ABSOLUTE SALE: Some properties may be sold “Absolute,” or “Absolute Above a Current or Starting Bid Price.” In either case, this means the seller has agreed to sell to the highest bidder with no reserve price.

For all properties sold Absolute, the seller will be deemed to have accepted the bidder’s price upon the closing of bidding and that the property has been sold to the highest online bidder.

7. SHORT SALE APPROVAL:  Acceptance of the agreement may be subject to approval by the seller and/or seller’s lender (3rd party) if it is a short sale. An Addendum SSO must accompany the offer if this is a short sale.

8. CASH ONLY:  Seller may only offer this property to bidders with no contingencies. If this property is a “CASH ONLY” property all bidders must bid with no contingencies and provide proof of funds prior to bidding. 

9. APPRAISAL AND FINANCING CONTINGENCIES: Seller may allow bidder to bid on this property contingent on bidder obtaining financing. The properties that are being offered “Subject to Obtaining Financing and Appraisal,” must have all bidders submit a preliminary pre-approval letter that can be verified from a lender prior to bidding on any property.

10. PROPERTY SALE CONTINGENCIES: Seller may allow bidder to bid on this property contingent on bidder selling bidder’s property. The properties that are being offered “Subject to Sale,” must have all bidders submit a preliminary pre-approval letter that can be verified from a reputable lender prior to bidding on any property.

11. BIDDER’S PREMIUM: A bidder’s premium is a percentage of the high bid or a flat fee added to the high bid to determine the total contract price to be paid by the winning bidder. 

12. EARNEST MONEY DEPOSIT: Once the winning bidder has been confirmed and the bidding is closed, the winning bidder must make an initial earnest money deposit of no less than 1% of the Purchase Price or $500.00, whichever is greater. This deposit shall be paid immediately at the close of online bidding to the listing agent companies trust account and shall represent the initial earnest money in the Offer to Purchase.

13. BUY-NOW OFFERS: Seller has the right to accept any offer prior to the end of the bidding and end the online bidding. 

14. BACK-UP BIDDER (SECONDARY OFFER): The Seller may accept a back-up offer at any time. In the event the winning bidder fails to perform as required, the property may be offered to any of the back-up bidders under their original terms.

15. ONLINE BIDDING: This property is available for bidding online. To bid online, go to the website at www.BidNowRealEstate.com, and find the property you wish to bid on. Then click “BID NOW” and follow the instructions. Before bidding, each buyer must read and accept the “Terms and Conditions” of the online bidding. Online bids are treated like written bids. Occasionally a seller may opt to accept an online bid prior to the end of the online bidding. The seller reserves the right to sell the property prior to the end of the online bidding.

16. OTHER CONDITIONS: In its sole discretion, www.BidNowRealEstate.com may postpone or cancel any online bidding in whole or in part, and/or modify, remove or add any terms and/or conditions prior to the end of the online bidding. The undersigned seller, bidder and agents affirms they have read and understand the terms of the online bidding and that if there are any risks, they accept them wholly as their own and holds www.BidNowRealEstate.com Auctioneers, Affiliates, Brokers and the Seller(s) harmless and without blame. The www.BidNowRealEstate.com Auctioneers, Affiliates, Brokers and the Seller(s) assume no liability for errors or omissions in the property listing, advertising or promotional statements and material. Although information has been obtained from sources deemed reliable, the www.BidNowRealEstate.com Auctioneers, Affiliates, Brokers, and Seller(s) make no representations, or guarantees as to the accuracy of the information herein contained. Seller reserves the right to immediately reject any offer to purchase that is not State Approved. By bidding on any property you agree you have read ans agree with all the terms and conditions.