Bidithomes Processing is a TRANSPARENT SALE - Investigation & Title Clearances Conducted Prior to Any Sale - Verification of all Bidders - Registration is Required - Scheduled Virtual Viewing/Inspection Dates.
Bidders/Buyers decide based on FACTS & with TRANSPARENCY. All bids are posted publicly.
Bidders are registered. Giving the seller the peace of mind knowing that anyone bidding or viewing is being tracked and recorded.
The basics…REAL PROPERTY AUCTIONS WORK! "Millions of dollars of Real Estate sold by Auction"
FOR SALE/RENT BY OWNER + REALTOR.CA + BIDITHOMES + BIDITRENT = MONEY BACK WHEN IT'S SOLD / RENTED / LEASED!
RESIDENTIAL | COMMERCIAL | NEW HOME BUILDS | RENT / LEASE
Starting at $1495.00
AGENT/BROKER COMMISSIONS / PROCESSING FEE
How it works
PURCHASE PRICE: The accepted bid amount which the Buyer has agreed to pay an additional processing fee plus HST, for the associated Auctioneering fees & expenses, which will be added to the total purchase price of the Real Property.
DEPOSIT REQUIRED: Within 24 hours of acceptance of the Agreement of Purchase and Sale (APS), the winning buyer agrees to pay a non-refundable deposit of 5% plus HST, payable to Action Auctions Inc.
BULLY BIDS: Since this is an action; practically bully bids are not possible. This is a soft close auction which makes the bidding process fair and fully transparent.
SHOWINGS: The Auctioneer will indicate when the auctioned property is available for showings of Real Estate and this will be disclosed both online at Bidithomes; AuctionsCanada and on MLS. Brokers from any brokerages can show their clients through the home within those indicated time slots and may also request private time slots though an online portal called Showing Time. We do recommend as much time leeway as possible for showings.
BROKER/AGENT SALES COMMISSIONS ARE PROTECTED.
SELLERS INFORMATION
Additional Information
Decide If This Works For You:
Our online bidding platform allows Sellers and Brokers to maximize the value of a property by encouraging Buyers from anywhere in the world to compete in a comfortable and secure environment.
Contact our Broker or us directly:
We will list your property auction on MLS. You will also have access to a professional full-time auctioneer who will maximize the value of your Real Estate. We are here to help and our team is here to provide you with ongoing support throughout the process.
Registering of Bidders:
As prospective buyers view the property; the Broker(s) will encourage them to submit an initial bid in order to be registered for the auction even if they are unsure of how high they will bid. There is ALWAYS a price that a Buyer would pay for EVERY property! This gets the ball rolling!
Auction Live Broadcasting Online / Onsite:
Once the auction is "in session" bids, bidding commences. Buyers and Brokers can login to the website via their computer or mobile device to view the current bid. Brokers are notified in real-time if they are outbid. Brokers can see everything via their dashboard.
Time to Think:
Bidithomes allows the Buyer, and the Broker time and space to make decisions. It allows all parties to see the competition and to be the Top Bidder!
The Hammer Falls:
Once the virtual hammer falls and the top price and the reserve price are met, then the Auctioneer will finalize the transaction by having the Seller counter-sign the winning Agreement of Purchase and Sale offline. Bidders ARE NOT required to pay for the property via our auction platform; but will have to submit the DEPOSIT which is also includes the PROCESSING FEE within 24 hours following the completion of the signing of the Agreement of Purchase and Sale of real estate auctions by auctioneers.
FAQ'S Real Property Auctions
How do I register to bid on a property for sale?
Registration is simple. Contact your Real Estate Broker or Our Selling Brokerage and you will be assisted step by step through the process. Our Selling Brokerage details can be found on the auction listing page. Bidders must provide proof of identity (typically a driver's licence or passport). The Broker will enter you into the auction system and an email will be sent out to your Broker to finalize your registration online. You will receive a bidder's number.
How do I obtain a contract for the sale of the property?
Contracts for all auction properties will be made available to your Broker or through ours.
Can I retract a bid after I have made it?
No, a bid cannot be retracted after it has been submitted.
Will I know when the reserve has been reached?
No. Our system will not indicate when the reserve has been reached. Additionally, all registered bidders will receive email and SMS/TEXT notifications when new bids have been received by the Auction House.
Can I communicate with the Broker during the auction?
Absolutely! We encourage a two-way communication between Buyers and Brokers. You will communicate with your designated Broker outside of the platform via email or telephone or text.
Can the property owner place a bid?
No. Under and our terms and conditions, an owner cannot place a bid.