How many pictures can a listing have?
We currently allow an unlimited number of pictures to be uploaded per bid listing.
I still have more questions, who should I ask?
Please contact William E. Shaddock IV (888) 519-7431 ext 838 of EXP Realty. He is available to answer all of your questions and provide any guidance necessary.
Will my property be placed on the MLS?
Yes, your home will be placed on the MLS and advertised on multiple online platforms with the appropriate terms and disclosures. Our agents will handle all of those details for you.
Do online bids really work?
Answer: Absolutely, but the key to success is good marketing. Our system is the tool to display your listing professionally and accept online bids. We incorporate your online bid listing as the focal point of all our offline and online marketing. We handle all of that for our Sellers.
Do I need to be a real estate agent to list a property on this site?
Yes! Only “Shaddock Online Bid certified” agents from EXP Realty can place properties on this site. If you would like to sell your property, please contact William E. Shaddock IV (888) 519-7431 ext 838 or text to 832-419-8779.
Can I do anything if the highest online offerer backs out?
Yes! You can report the highest online bid to us if you are not working with one of our agents. If we determine the buyer is at fault, we will remove their privileges on our site. A Seller can also choose to pursue them for default.
Is the highest online offerer guaranteed to buy my property?
No, but an online bid is a binding agreement and how far a seller pursues a non-performing offerer is up to them.
However, the buyer is represented by a Realtor who must submit an TX One to Four Residential Resale Purchase contract and an earnest money check must be submitted to an Escrow Agent within 24 hours of winning the bid. By doing this, it will help identify a non-performing bid right away.
In addition, a buyer must provide a full loan approval letter from a Licensed Mortgage Lender prior to submitting an bid. If they are paying cash they must provide a proof of funds to us before making an online bid.
Does a Seller have to accept the highest online bid?
No. A seller can counter or reject an bid. You should discuss strategy with your TX, ShaddockOnlineOffers.com agent.
Does the buyer pay any fees?
We DO NOT charge a fee to list a property on our web site.
However, it is up to each individual seller whether or not they charge an Agent’s Compensation. Make sure you understand all the terms and conditions of an online bid property before you place an bid on it.
What is the Agent’s Compensation? Using the ShaddockOnlineOffers.com option, real estate commission can be paid by the seller, the buyer or both. The buyer’s side of the commission is called “Agent’s Compensation”. (Highest bid + Agent’s Compensation = Sales Price)
This is the MOST transparent way for a seller to bid 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 bid different terms, conditions and Agent’s Compensation, so be sure to research the property and all of the details on the property online bid page.
Can I view the home before placing an online bid?
On most ShaddockOnlineOffers.com listings we will have an Open House the weekend prior to the end of the online bid process. That will be the opportunity to view the home for all buyers.
Please contact the EXP Listing Agent identified on the ShaddockOnlineOffers.com Property page.
Can I get an inspection?
In most online bids once the sale is approved, the buyer will have an additional inspection period to complete any additional inspections. If there are inspections already done they will be available as a link from the online bid listing. In most bids 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 property before placing any online bids.
Is there a fee to register or place an online bid?
No, there are no fees required to register or make an online bid. However, some sellers may require that you verify your identity using a valid credit card before placing an online bid. In that case, an authorization is done with your credit card but you are not charged.
Also, each property may require a specific deposit once you are declared the winning bid. Each property will list the required deposit amount in the terms
Where do properties on this site come from?
The properties on this site are offered for sale by local real estate agents on behalf of private homeowners, wholesale investors and some Banks or Lending institutions.
What are the online bid increments?
You can bid $10,000 at a time.
Do I have to pay cash or can I get a mortgage?
Yes, you can use a mortgage. However, in order to submit an online 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. Once you register one of our agents will contact you and help with the process. There are cost and interest rate savings by working with Capital ABC Funding MTG, Inc. (832)-327-1917. If you have any questions on getting a home loan, contact us for more details.
CLICK HERE to apply for a mortgage.
If you are paying cash, you must provide a “proof of funds” document prior to be approved for placing an online bid.
How do I place an online bid?
You must be a registered member of our site. Registration is currently FREE. Working with a Realtor is required. Once the winning bid is achieved a Realtor MUST facilitate the entire process from placing the online bid, to contract submission and inspections, to closing.
If you need an agent, we can provide one of our “ ShaddockOnlineOffer.com Experts” who work with online bid buyers. This is all they do and are experts at guiding you through the online bid process. In addition, there may be cost savings available to you.
If you have an agent, simply provide their name and contact information when registering.
CLICK HERE to read the complete online bid instructions.