*******IMPORTANT*******
In order to participate in this Online Event, you must REGISTER and create an account. If you are working with an Agent, you will need to provide us with their contact information.
CLICK HERE to register for access to the ONLINE OFFER PLATFORM.
By creating your account, you agree to accept AND you understand the Terms and Conditions of the Online Event process and the onlineoffers14.com offering platform.
In addition, you must either provide Proof of Funds if paying in cash OR a FULL Underwritten Loan Approval Letter From A Mortgage Lender prior to getting access to the offering area. Registration and documents must be received NO LATER than 12:00 pm PST the day of the event.
If you are not registered and/or you have not provided suitable documentation by NOON on the day of the event, you will NOT be allowed to offer on a property via the Online Offer Platform!
We also STRONGLY encourage you or your agent to login to your account prior to the end of the offering time on the property you wish to offer on. It is IMPORTANT to understand the steps and functionality needed to place your offer. Technical or agent support will not be available after 12:00 pm on the final day of the event.
You can get the loan approval started by clicking here
CLICK HERE to register for access to the Online Event Platform.
Upon acceptance to our online event platform, you will receive access to offer on properties that meet your criteria.
Working with a licensed Real Estate Agent is required. Upon winning the offer, a signed NWMLS / OREF contract prepared by a Washington / Oregon Licensed Agent must be submitted within 24 hours after the accepted offer along with the earnest money deposited with an escrow agent.
A licensed Real Estate Agent must prepare those documents and initiate the process.
If you have an Agent, the registration page will provide you with the option of entering your agent’s contact information. Our agents will contact them and review the offer procedures. If do not have an Agent the Listing Agent for this porerty may refer you to a Selling Agent.
The Listing Agent of the subject property is an expert in this process and can guide you through the entire Online Event process from beginning to end and answer all of your questions.
What is the “Buyers Premium” – Using our On-Line Event option, real estate commission can be paid by the seller, the buyer or both. The buyer’s side of the commission is called “Buyer’s Premium”. (Highest Bid + Buyer’s Premium = Sales Price). Please discuss the details with your Agent.
This is the MOST transparent way for a Seller to offer the lowest price on their home and still compensates the Real Estate Agents who conduct and close the transaction.
Each property listed on our web site will offer different terms, conditions and Buyers Premium, so be sure to research the property and all of the details on the Property Offer Page.
Property will be available for viewing only on the day(s) of the open house (unless agreed otherwise)
Buyers must be approved for offering manually by the Seller.
Sellers reserve the right to accept, negotiate or reject any and all offers.
A winning offer is a binding offer and a seller may seek legal recourse against a non-performing bidder according to the Terms and Conditions.
Be sure to contact us if you have question on the event process.
Terms You Should Know:
Auto-Offering: The system can be set to automatically enter offers for you. You choose your starting offer (cannot be less than the starting offer) and then determine the increments your offers can increase. (must be at least or more than the minimum increments listed on the property page.)
Then, you enter the “maximum” price you are willing to pay.
The system will begin to activate your offers 6 hours before the end of the auction. If other auto-offers are set, the system will manage the process of “offer submission” until your maximum offer has been met.
If another Offeror has a higher “maximum offer” the system will continue the offering process.
Of course, if you change your mind on the day of the Online Event, you can login to your account and manually submit additional offers.
At the time, all auto offers have been submitted, Offerors can still continue to submit offers manually.
One hour before the bidding ends, ALL Offerors will start to receive bid updates via e-mail. However, you can monitor the screen for real time updates and bids.
Offer Auto Extend – Our system Prevents Last Second Offering by Automatically Extending the Bidding Time.
If a person places a bid within 5 minutes of the end of the offering time, the system will automatically extend the offering time by 10 minutes in order to allow other offerers the opportunity to respond.
Attention Winning Offerors
If You Are The Winning Offeror: Please have your Agent submit a signed purchase agreement to the Seller within the time specified in “sale terms and conditions” (please see the posting details). If you do not have an Agent, please Contact Us.
Notice to Winning Offeror: Important – If you are the winning offeror at the end of the event and back out without submitting a contract, you will have been considered breaching our terms of use of our offering submission system and you may be liable for a $500 withdrawal penalty fee. We will invoice you for that amount an the fund will be payable to the seller.
