Frequently Asked Questions
Q: Why are the properties discounted so much on this site? Wouldn’t you just keep the best deals for yourself?
A: You’ll find investment properties on this site discounted 20-50% because of our proprietary marketing systems that get in touch with homeowners who are needing to sell their property. Often times they may be in foreclosure and our company can help them out by buying their house quickly for cash… which is a win-win. Then, we pass the discount along to you.
Q: How are the properties on this site different from ones I’d find on the MLS?
A: Most properties you’ll find on our site are ones that you’ll never find on the MLS. The MLS is the “Multiple Listing Service” which is where real estate agents list properties for sale. We work directly with the homeowners because many times we’re able to help them solve their problem more quickly and cheaper than listing it on the MLS.
Q: I am homeowner wanting to sell my house do you charge a fee?
A: We will market your house to thousands of cash buyers and sell it in 7 days. We only charge 2% of selling price! Our buyers are cash buyers plus they do not require an appraisal, professional home inspection not waiting a long time for mortgage decisions. You’ll get a fast professional closing plus full communication from us thru the entire process.
Q: Can I use bank financing to buy these properties?
A: We tend to work with people looking for investment properties who are paying cash and who can close quickly. However, if you are pre-approved with a bank and can close quickly… we’ll consider all offers. If you need financing to buy a property you see on our site, contact us today and we can connect you with lenders that we recommend and have worked with before.
Q: How do I make an offer on a property?
A: Simple, our auction site offers you the opportunity to place bids in real time. Once you register with us on our site, you will be able to purchase properties. We require that you submit a credit card on line with us to register if you are the winning bidder then earnest funds will be required to be wired to Lendserv Title. If you did not win the bid then the hold on your card will be released.
Q: How often do you add new investment properties to the site?
A: We’re always sourcing new investment properties… and add new properties to this site on a continual basis. So, check back often as our properties tend to sell very very quickly. We sell houses on a weekly basis beginning Monday mornings and completing the auction Friday afternoons.
Q: Do you charge any fees to auction a home?
A: Your buy price includes our fee with no hidden fees. Your winning bid is the price you pay.
Q: What type of properties are eligible?
A: SFR, commercial, industrial, lots/land and multi-family are all eligible.
Q: What happens if the wholesaler sells the property outside of auction?
A: We charge the wholesaler a marketing fee of $2500.
Q: Can the wholesaler set a reserve?
A: Yes, a reserve can be set for any amount.
Q: Is there a buyer’s premium?
A: No premium is charged.
Q: Do both Bidders and Sellers need to register to obtain a Member ID#?
A: Yes, whether you are buying or selling, you must have a Member ID#.
Q: Does every employee of a company need a Member ID#?
A: A company can have “authorized agents” under the Member ID#.
Q: What happens to a No Sale auction?
A: The contract may be re-submitted for auction one time only. Two auctions max.
Q: Can the wholesaler set a Buy it Now price?
A: Yes, the Buy it Now price may be set prior to the auction starting and will be posted in the coming soon/upcoming auctions page.
Q: Can a buyer pay EMD (earnest money deposit) with a credit card?
A: No, buyer must wire the non-refundable earnest money directly to the title firm within 4 hours of winning the bid. You will receive an email with instructions upon winning the bid.