Online Bidding

By
Real Estate Agent with (ABR) McLeRoy Realty, Inc.

The online bidding went well enough, I suppose.  The process is about 80% complete as we await the return documents with the seller's signatures.  Interestingly, another agent in our office was exactly where I am right now and was informed they had a better offer and "we need your highest and best"!  Keep in mind, we've gone through the negotiations and have delivered the Earnest Money, signed all documents, addenda, etc.  She lost the sale. Her clients are rightly holding their hands up and saying "What!?".  It makes me wonder about the integrity of all this.  She was using a different online system, but I think they may all be the same.  Pay attention when the notes say "This house is available and not under contract until the seller signatures have been received."-  anything can happen. 

Comments (5)

Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

I have never experienced online bidding - that seems a little "out of touch"

Jun 14, 2010 12:04 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Must have missed the earlier details...sounds like online just as in person can mean...out of luck !

Jun 14, 2010 12:08 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Randy, I've seen all sorts of shenanigans on these types of sales.  Buyer better be very wary.

Jun 14, 2010 12:16 AM
Randy Schultz
(ABR) McLeRoy Realty, Inc. - Zebulon, GA
REALTOR, ABR, ePro

To all, thanks!  

 

I just managed to contact one of the agents (don't know where he fits into the mix) and was assured that the inspection/contingency clocks don't start until seller signs (where ever he is).  That was my biggest beef when we got the addenda from the seller that had dates instead of working days as cutoffs for various contingencies.  Perhaps we'll hear something today.  Actually, overall, it was not a bad experience- now that I understand the system......I still like the old face-to-face, though.  

Jun 14, 2010 11:51 PM
Alicia Gibson
McLeRoy Realty Associates, Inc. - Zebulon, GA
Associate Broker, McLeRoy Realty Associates, Inc.

Randy, YES....it can!

Jun 16, 2010 02:50 AM

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