What is the timeline for selling my home?
We know sellers want to sell their homes fast, hassle-free, and for the most amount of money.
We hold an Open House on Saturday and Sunday which means no random or inconvenient showings during the week. We give buyers adequate time to view your home on the weekend.
Buyers then can submit bids online on your home up until Wednesday night at 7:00 pm (your time zone) after the Open House. This gives buyers adequate time to get pre-approved by a mortgage lender so they can place an bid on your home.
Does this method really work?
Absolutely! Our system was developed and implemented by top producing agents in Arizona and around the United States. We saw a flaw in the current real estate transaction process and created a solution.
Our process is the most transparent way to SELL and BUY a home. A win-win for all parties involved. Our goal is to create a competitive and transparent environment allowing buyers to openly compete for your home. No more blind highest and best bids which lead to conservative bids from buyers who do not want to over-pay.
How fast can you sell my home?
7 days – 14 days. We recommend 14 days to maximize the effectiveness of our marketing strategies. They are designed to drive a MASSIVE amount of buyers to your home.
Will my home qualify to be sold this way?
Most homes we view meet the requirements to be sold using our process, but not all do. Contact us today and we can typically determine if your home qualifies over the phone.
Why do I sell homes this way?
We never understood why homeowners were paying real estate commissions to the buyer’s agent whose job is to negotiate against your home’s equity.
We created a process that allowed buyers to know exactly what they were paying to buy your home. This leads to a competitive and transparent environment for buyers. The buyer no longer worries about overpaying with the blind highest and best bid.
When buyers compete, sellers win.
Does Al Harmalani /openhouserealtyconcept.com at EXP Realty sell properties the traditional way?
Yes! Our goal is to have a solution for any homeowner looking to sell their home. Simply contact us to review all of the alternative ways we can help you sell your home.
Can I just get a cash bid?
YES.
Our process has nothing to do with cash bids, although cash buyers can submit bids on your home with a proof of funds.
If you want a fast cash bid on your home from an investor, we can also help with that. Our goal is to have a solution for any seller.
Will my property be placed on the MLS?
Yes.
Your home will be advertised on the MLS and on multiple online platforms with the appropriate terms and disclosures. Our agents will handle these details for you.
How are you handling Open Houses with COVID-19?
Our open houses are usually full of prospective buyers. We adjusted the limit of parties allowed in the open house at the same time, while still maximizing the number of qualified buyers to see your home. We ensure adequate time for interested buyers to view your home.
Buyers schedule a window of time online to view your home. We sanitize and clean after each party as well as provide gloves, face masks, and hand sanitizer for any visitor.
We are here to work with you and your level of comfort, as every situation and home is unique. Please reach out with any questions or concerns on COVID-19.
How do I place an bid?
You must be a registered member of our site. Registration is quick and easy.
To submit an bid, you will need to provide us with a “pre-approval” from a licensed mortgage lender.
A pre-approval is different than a pre-qualification.
What is required to place an bid?
You must be pre-approved by a licensed mortgage lender to place an bid on one of our listings.
A pre-approval is different than a pre-qualification. Please contact us if you need help getting pre-approved.
Do I need to submit a purchase contract every time I place an bid?
No!
A purchase contract will be submitted by the real estate agent of the winning bid within 24 hours.
Does the buyer pay any fees?
Yes. Agent Compensation is charged on every transaction.
What is the Agent Compensation?
Using our listing platform, real estate commission can be paid by the seller, the buyer or both.
The buyer’s side of the commission is called “Agent Compensation”.
This is the MOST transparent way for a seller to bid the lowest price on their home and still compensate the real estate agents who conduct and close the transaction.
Each property listed on our website will bid different terms, conditions, and agent compensation, so be sure to research the property and all of the details on the property page.
Agent Compensation is collected from the buyer and used to compensate the real estate agents in this transaction. The seller(s) have agreed to compensate the real estate agents from the Agent Compensation fee (which is added to the final highest bid price). The agent compensation will be added to the winning bid amount which shall establish the final sales price.
The seller has agreed that the broker will charge the agent compensation on top of the accepted bid price of the home. Accepted bid price plus the “Agent Compensation” will establish the sales price reflected on the purchase contract. The seller has agreed in writing to release the Agent Compensation fee amount to eXp Realty to be used to pay the commission to eXp and to the co-brokerage commission.
How is the contract sale price determined?
Highest bid + Agent Compensation = Contract price!
The contract price is the final number that lenders and appraisers will work from.
Does a Seller have to accept the highest bid?
No. The seller has the right to accept, reject or negotiate any or all bids.
Is the highest bid guaranteed to buy my property?
No. The seller has the right to accept, reject or negotiate any or all bids.
The buyer is represented by a Realtor who must submit a {your state} Residential Purchase contract. An earnest money check must be submitted to an Escrow Agent within 24 hours of a contract agreement.
By doing this, it will help identify a non-performing buyer right away.
I don’t have a real estate agent. Do I need to use one?
Working with a Realtor is required. Once the winning bid has been determined a Realtor MUST facilitate the entire process from contract submission, inspections to closing.
If you need an agent, we can provide one of our agents. They are experts at guiding you through the process.
If you have an agent, simply provide your agent’s name and contact information when registering.
Can a buyer view the home before submitting bids?
We will have an Open House the weekend prior to the deadline for bid submission. That will be the opportunity for all buyers to view the home.
Please contact the Listing Agent identified on the property page for questions on a specific listing.
Can I get an inspection?
Yes! Just like every transaction, the buyer will have an inspection period.
If an inspection has already been completed it will be available as a link from the home listing.
In most transactions any and all inspection requests will be honored, just ask the agent to set up a time for your inspector. Please read the complete terms and conditions of a listing before placing any bids.
Where do properties on this site come from? Are they distressed or foreclosure properties?
NO!
The properties on our site are offered for sale by local real estate agents on behalf of private homeowners or investors.
Our goal is to have a solution for any and all homeowners looking to sell their homes.
What are the bid increments?
Bid increments can/will vary by property, be sure to check the details of the property you are interested in.
Do I need to be a real estate agent to list a property on this site?
Yes! Only EXP Realty agents can place properties for sale on our site. If you would like to sell your property, please contact us below.