biddinghouse.com is an online bidding marketplace for real estate that allows for open, visible competition among serious real estate buyers looking for great deals.

The bidding process is selected by the seller and will last between 1 to 5 days on average and for make an offer auction could last up to 21 days. There is a countdown clock on the bid page indicating how much time is left to bid. If the property does not reach its reserve price, the property will remain on the site for an additional duration for post bidding.

The reserve price is a confidential number, however in some cases, once the reserve price is met, the Bid Page will indicate to the public that the reserve price has been met. In other cases, the seller is required to keep it private until approval of the highest bid by committee.

Absolute discretion to review all offers and accept or reject any of those offers. The Seller is not obligated to negotiate with the highest bidder or give any special rights to that bidder.

If the property has met or exceeded its reserve price at the end of auction duration, an email, SMS and call will notify the winning bidder that (upon final seller review and acceptance) the contract process will begin. The email and call will give instructions as to that specific process to which buyer and seller must attend a meeting to sign Escrow & Purchase Agreement within 48 hours of notification.

Buyer must also pay an agreed deposit or full amount to the Escrow account to ensure commitment of sale. In the event a buyer has requested financing he or she will proceed with the process of KYC and approval for financing from the bank providing the loan. Upon being approved for the loan, the buyer must sign all loan agreements and issue required checks to the bank providing the loan. The initial deposit paid will be transferred to the bank providing the loan after deducting agreed commissions, fees and taxes. If the buyer does not need financing they will have an agreed duration to complete the full winning bid amount into Escrow, including all fees, taxes and commissions after which the seller will proceed with transfer of title process. Once property ownership is transferred from seller to buyer then the money in escrow will be transferred to seller.

If the property has not met its reserve price, the property will remain on the site for an additional short duration for post bidding. During the Post Bid process, bids are relayed to the Seller on a daily basis, so it is important to get your bids in early. The Seller reserves the right to accept any bid during the Post Bid process. The updated countdown clock was posted on the Bid Page during the Post Bid period, but there is NO guarantee that the property will remain up for that entire time. In fact, most acceptances will come during the first few days after the conclusion of active bidding, so it’s important to place your post bid in a timely fashion.

Sniping occurs when a bidder waits until the last few seconds of bidding and times his bid to prevent other bidders from having time to react. If a bid is placed in the last seconds of the auction the auction duration will be automatically extended for five more minutes.

Yes, biddinghouse.com can assist you with achieving a high number of bids at the best market price. Multiple bids will go a long way in proving to the lender that you have worked to obtain the highest price prior to submitting an offer for a short sale.

There is a countdown clock on the property bid page that will let you know how much time is left for bidding. When the clock reaches zero, the active bidding ends. If the property did not rmeet or exceed the reserve price then Bidding House could decide to add an additional duration for post bidding. If the property has met its reserve price, it is declared Sold, subject to final review and approval by the seller.

The property is removed from the website and returned to the Seller. That property is typically put back on the market through a make an offer auction or a bidding auction at a later date.

biddinghouse.com offers a variety of sales channels and auction types to ensure we cater to all the different needs and circumstances of our clients. Those include:

• Online Make an Offer Auctions – Buying through the “Make an Offer” service could not be simpler. This is a bidding option with the pressure of competition and a time sensitive auction removed. Thus, No Clock Ticking No Pressure. Now you can easily make an offer on all the properties you are interested in. One of the best things of Make an Offer is that there is no need for you to pay any bid deposit during the whole process. That means you are getting a fantastic chance to own your dream property with no risk and free of cost, simply by registering with biddinghouse.com Your offers go directly to the seller to approve or reject
• Online Bidding Auctions – Properties that must sell fast and need to use a fair and public process will utilize the Online Bidding auction. Bidders register, pay deposit, start bidding for a set duration usually 3 days or more. Highest bid wins at the end of the auction duration if the bid amount exceeds the reserve or minimal acceptable price set beforehand by the seller.
• Coming Soon Auctions – This is where you get to see the entire portfolio of Properties that have the potential to be auctioned soon. Once a property is of interest you will be able to sign up to be notified when the property will be listed for auction so you don’t miss out on an amazing deal. If enough people sign up, biddinghouse.com will schedule the property for an auction and you will be the first to be notified. At biddinghouse.com we auction properties that are in demand by our buyers to ensure a successful outcome for all.
• Buy it Now – Some properties have a set price that will be accepted by the seller. This will be visible on the property details page. To buy this property you must be click on buy it now button on the property details page and fill out the form, after which a biddinghouse.com specialist will contact you to close the sale. biddinghouse.com will prioritize buyers on a first come first serve basis where the first buyer to sign purchase agreement and pay deposit will win the property.

Brokers get commission depending on who they refer and the commission is obtained from the buyer and seller to the biddinghouse.com escrow account. If there is a registered broker linked to the property or bidder then biddinghouse.com will make the payment after receiving commissions from the escrow account.

• We verify all bidders using their ID, and OTP and ensure every bidder pays a bid deposit to ensure their bid is real.
• We also monitor all auction in real time including bidders behaviors and IP addresses to ensure we are able to identify these accounts and block them from the site
• Sellers can only have one account active and the system will not allow them to be an active buyer and seller at the same time.

1. Go to home page: biddinghouse.com,
2. Click Search. [Hint: You can use the filters viewed next to the search bar].

With the same payment method that you’ve used.
[Please Note: if you want to get a refund with another payment method rather than the way that you’ve used, you’ll have to sign a request in biddinghouse.com head office @ Galleria 40, Edge Innovation Center, North Tower, 2nd Floor].

Buyer must do their due diligence to verify if any taxes or outstanding payments due on the property as it is the buyer’s sole responsibility. Bidding House will provide as much information as we can on the property details page and associated documents in an effort to be transparent however the property is sold on an as is basis.

If you are the highest bidder on a property at the end of bidding and the reserve price has been met, you will receive a notification, call, SMS, and email to agree to time and place within 48 hours to sign Escrow Agreement and a Purchase Agreement as well as pay the required 10% deposit or full purchase amount in addition to the agreed fees and commissions. The purchase is not fully approved until the Purchase Agreement is also signed by the Seller. If you are the highest bidder for a property and it did not meet its reserve price, the Seller has the sole and absolute discretion to review all offers and accept or reject any of those offers. The Seller is not obligated to negotiate with the highest bidder or give any special rights to that bidder.

All bids require a final review process by the Seller. Most of our Sellers are large financial institutions that also must obtain final approval by a management committee. Even though in 98% of cases where the bid meets or exceeds the reserve price, the deal is accepted, there is NO guarantee that a bid will be accepted. There is no guaranteed “deal” on a property until the Purchase Contract has been signed by both Buyer and Seller.

If you successfully win a property on biddinghouse.com, you will be responsible for the following items: Winning Bid Price + Internet Success Fee (or Buyer’s Premium) + VAT

Yes, you can wait until the end of the bidding if you want to, but we highly recommend against waiting that long. You could have computer problems, Internet connection delays, etc. We recommend you place a bid at least two hours before the end of bidding . We hear cases every week where a bidder waited until the end to place a bid and lost a property due to not timing the final bids correctly. biddinghouse.com is not responsible for bids that do not make it to the site due to a bidder waiting until the last few minutes of bidding.

The countdown clock on biddinghouse.com should be considered accurate but not exact. Many processes can affect what actual time a user sees on their screen such as computer processor speeds, internet connection speeds, etc., so please do not wait until the last few minutes of an auction to place a bid. It is highly recommended that if you intend to place a bid, you should do so early to get a feel for the bidding process. If you choose to wait until the last few minutes or seconds of the countdown clock to place your bid and your system lags or your bid does not get placed, Bidding House bears no responsibility for re-offering the property or causing your bid to be placed for you. If it is determined that there was a system issue that may have prevented a bid from being placed, biddinghouse.com reserves the right to review all bids and possibly re-open the bidding on a property. This determination will be made on a case by case basis and is at the sole discretion of the company. The intent of biddinghouse.com is to always provide a fair, level and transparent bidding environment for our consumer audience.

Unless otherwise noted on a property’s Bid Page, you can view the property and have the property inspected after your bid is accepted; however, there is no contingency for inspection, so you should view the property and do your due diligence prior to placing any bids. If you default on a property due to property condition AFTER you win the property, you will forfeit your deposit and/or you will be charged a penalty. DO NOT BID unless you are sure you are satisfied with the condition of the property.

To view a property, please contact biddinghouse.com Customer Service Department, whose contact information is listed on the Home Page.

If you are the winning bidder and you do not complete the contract execution process for the property that you won, biddinghouse.com will retain your bid deposit as a cancellation fee.

If you are outbid for a property, you should receive an email notification, SMS & WhatsApp indicating that you have been outbid. You should also receive an alert in your Dash Board within your bidder account. In addition, you can always look at the Bid Page under the countdown clock to see the current leading bidder and will turn red.

biddinghouse.com has agreements with institutions such as national banks, government entities and mortgage servicers to provide listings to the site at greatly reduced prices. In addition, biddinghouse.com also allows listings from only serious real estate agents, developers, individuals and major corporations.

biddinghouse.com has an Email Notification system to notify you if a property is listed in your area or that matches your preset requirements. This is a completely free service. All you have to do is sign up to our website and accept Free Email Notifications. biddinghouse.com will not sell your information or spam you with unwanted information.

Yes, many of our properties are financed and it will be clear on the property detail page and terms booklet that you will be bidding on the financed price or not. We offer financing through several institutions for properties pre approved to be financed and you can inquire from property details page.

To bid on a property on biddinghouse.com, a bidder must submit a bid deposit. This bid deposit is a hold placed on a credit or debit card or can be paid via wire transfer or certified check. This deposit allows biddinghouse.com to confirm that your account is valid and that you are placing a bid with sincere intent to purchase if you are the winner of the property. For deposits paid as a hold on credit or debit card, it will not appear as a charge on your credit card or bank statement unless you are the winning bidder and fail to complete the contract execution process.

Bid deposits play an important role in helping biddinghouse.com remain transparent and fair. biddinghouse.com requires bid deposits to ensure our bidders are serious and legitimate. Bid deposits give all bidders assurance that those who are bidding against them are valid, well-intentioned potential buyers. Bidding against competing bidders who have no intention of buying a property and who have not had to demonstrate their intent with the placement of a bid deposit can result in genuine bidders dropping out of bidding early or inaccurately being informed that they did not win a property. Bid deposits make online bidding safer for everyone, and biddinghouse.com is proud to have one of the lowest bid deposit requirements in real estate auctions.

The deposit will be made during your registration for a specific online bidding auction. Registration will be open 5 days prior to auction start time.

The bid deposit amount or deposit hold will be released within 48 hours after the duration of the auction, on which a bidder is bidding, has been completed, unless the bidder is the winner of the property. In that case, the bid deposit hold will be released after full execution of the property purchase contract (this includes receipt by Bidding House of full deposit money and all required and applicable purchase documents, including proof of funds, corporate resolutions, etc.). If you are bidding on more than one property, you will have a separate bid deposit for each property you are bidding on.

Your Bidding House bid deposit will not appear as a charge on your statement or account but may appear as “pending.” Once biddinghouse.com releases a bid deposit hold, it will be the policy of the credit card company or bank that determines how quickly the “pending” designation is removed. Some banks may take a day and some may take a few days. You can check your profile page on biddinghouse.com to ensure that it states that you have no hold remaining with Bidding House and then contact your financial institution to find out how long it will take for the pending designation to be removed on their end.

Yes, each individual auction requires a separate bid deposit as the amounts vary from auction to auction. In the event you have paid a deposit via wire transfer or by cashier check and you want to join another auction with the same bid deposit amount or lower then contact your biddinghouse.com specialist and we can make an exception.

To fully enjoy the use of all features on biddinghouse.com, please make sure your computer system meets the following requirements:

1. Internet Explorer 6.0 or higher or Firefox 1.5 or higher
2. Adobe Flash Player 8 or higher
3. Javascript enabled
4. Adobe Reader
5. If you are a Mac user, try the Firefox browser.

No, the brokers are already assigned by the Seller when they are sent to biddinghouse.com. Otherwise biddinghouse.com auction specialist will fulfill the role of broker.

Our auction team will contact you ASAP.

1. Register as a Buyer in biddinghouse.com,
2. Search for the property that you’re interested in,
3. Click “Register to bid”,
4. Fill the form, and choose the payment method
5. Wait for the approval from the Auction Team.

It depends on the

1. If the Auction hasn’t started yet: we’ll refund you within 48.
2. If the Auction has started already: we will wait to the end of the auction and we willl refund you within 48 hours.

You can view and download these on the property details page and during the auction registration process

1. Credit or Debit Card
2. Wire Transfer
3. Certified Bank Check

Go to Dashboard at the top of the home page.

1- Go to home
2- Sales manger
3- Click on properties
4- Add new property

1- Add property
2- One of our auction team will call you or call 01011117376

Your referral can be found from your dashboard where you will click on the top right button to select profile and there you will find the code.

If you are certain that the login information is correct, you may have an issue with your firewall or pop-up blocking software. This site uses pop-up windows and secured servers to gather and process information. Please check your browser settings to ensure pop-ups are allowed and that features such as JavaScript and Flash are not being blocked.

Please ensure you are signing into the correct portal as buyers have a separate login page from that of the broker and seller.

Yes, you will get a referral commission indicated on the property’s Bid Page, unless stated otherwise on the Bid Page. You must have a biddinghouse.com broker account and you must have the buyer or seller sign a consent form in writing and use your referral code when registering for an auction or adding a property.

1- Go to home
2- Sales manger
3- Click on properties
4- Add new property

1- Add property
2- One of our auction team will call you
3- call 01011117376

Your referral can be found from your dashboard where you will click on the top right button to select profile and there you will find the code.

If you are certain that the login information is correct, you may have an issue with your firewall or pop-up blocking software. This site uses pop-up windows and secured servers to gather and process information. Please check your browser settings to ensure pop-ups are allowed and that features such as JavaScript and Flash are not being blocked.

Please ensure you are signing into the correct portal as buyers have a separate login page from that of the broker and seller.