FAQ
Popular Question
Yes, a Realtor must facilitate the transaction as your representative throughout the process. Once bidding ends, the winning buyer and their agent must submit the formal contract within 24-hours. From that point on, we follow the traditional real estate sale process. We can provide an agent if needed.
No, there are no registration fees.
The properties on this site are offered for sale by Whiskey Kidd Realty real estate agents on behalf of private homeowners, investors and some Banks or Lending institutions.
Yes, we will need a full Desktop Underwritten Loan Approval in order to submit an offer. If you are paying cash, you must provide a “proof of funds” document prior to being approved to submit offers.
You must be a registered member of our site. Working with a Realtor is required. Once the winning offer is reached, a Realtor MUST facilitate the entire process from offer submission, contract submission, inspections to closing.
If you need an agent, we can provide one of our buyer’s agents. This is all they do and are experts at guiding you through the Clear Bid process.
If you have an agent, simply provide their name and contact information when registering. Your agent will also need to be registered with Clear Bid before being allowed to submit bids.
No, sellers can accept, reject, or negotiate any offer.
No, our listings are from private homeowners or investors, not distressed or foreclosure properties.
Increments vary by property. Check the specific property details for more information.
All attendees to an open house are first required to register with our welcoming agents before proceeding to tour the home. During this process we conduct a short intake interview to gauge the visitor’s readiness to buy in the current market. Following the tour and before leaving, we have a short conversation to assess the visitor’s level of interest and to answer any questions they may have about the open bidding process. All visitors are then followed up with to further discuss the home and encourage their participation in the open bidding process.
First interested buyers register on the Clear Bid site and provide a mortgage lender’s pre-approval letter along with proof of funds for their down payment and closing costs. Once registered, buyers are provided access to the home’s supporting disclosures and inspections, so they are fully aware of the home’s condition prior to placing an offer. Once bidding opens, buyers simply fill out the details of their bid and submit. Their bid is received and displayed for all interested parties to see and respond to prior to the close of bidding.
No, you and your agent will only submit the formal Residential Purchase Agreement (RPA) if you are the winning bidder. Your agent representing you will then submit the RPA contract within 24 hours that reflects your winning bid.
Yes, buyers pay an Agent Compensation fee, which is transparently added to the final offer price.
Your stated purchase price plus Agent Compensation equals the contract price.
Yes, during the Open House before the offer submission deadline.
Absolutely, inspections are encouraged and can be arranged with your agent. However, most homes offered on Clear Bid have already had a 3rd party home inspection conducted and supply the report for buyers to review prior to placing bids. Additionally, the Seller’s Property Questionnaire (SPQ) otherwise known as seller’s disclosures, are also provided prior to placing bids. We believe in 100% transparency throughout the entire process so everyone involved are able to proceed with confidence.
