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Rules and Terms

RULES/TERMS

1. No pre-qualification necessary all bidders welcome.

2. No one is legally obligated to buy the home at any time during the bidding process.

3. Bids may be left at any level, at any time prior to 6 PM Sunday evening. A beginning bid of $0.01 is acceptable.

4. Leaving a bid at the inspection simply gets one on the call list for the round-robin bidding on Sunday evening.

6. Bidders may drop out at anytime during the process. Each bidder has only ONE opportunity to re-enter the bidding so long as it is before the round-robin process has completed.

7. The bidding will be open. We will tell anyone the status of the bids at anytime.

8. The home will be sold to the best bidder in round-robin bidding at any given time.

9. The highest bidder prior to the 8pm deadline will have the opportunity to make the first bid when the round robin begins. The 2nd highest bid will get the second call and so on down the list. If there is more than one bid at the same price, the first chronological bidder will be called first.

10. Every bidder will have the opportunity to top the high bid until the best bidder is established.

11. Bids must be a minimum of $500 increments.

12. The best bidder will be offered the home at the bid price and terms.

13. The best bidder is expected to present a sales contract within 24 hours of the bid acceptance.

14. If for any reason the best bidder cannot fulfill their purchase agreement terms, the second best bidder will be contacted and offered the home.

15. The sellers reserve the right to extend bidding to subsequent evenings if the round-robin process runs late into the night.

16. The sellers reserve the right to reject any bid for any reason.

17. Seller reserves the right to determine the “best bid.” The highest priced bidder may not be considered the “best bid.” Cash bidders may be given priority.

18. The final bid may be subject to lender approval.

19. Home sold AS-IS unless otherwise noted.

20. Best bidder and seller will determine a time and location to execute the purchase agreement within 24 hours.

21. Terms of the sale are subject to State Law

22. Realtor Commissions must be added to the final bid.

General Explanation of Auction

So, what’s going on here?

We are selling our property this way to hopefully save you money and to complete the transaction quickly. The bidding process is held to allow YOU to set the market price. We fully expect the final bidder to have an INSTANT EQUITY opportunity. Once the bidding is complete the transaction is the same as any other home purchase in the State. There is nothing hidden or secret about the process. We will be conducting bidding out in the open.

The process only requires us to have the home open to show for one weekend and beats the heck out of the traditional “list it and wait” strategy.

Does it work? We’re 100% committed to selling our home this way. Check back here to see the results of the sale.

Frequently Asked Questions

Why are you selling the home?

We need to sell the home for personal reasons.

Are Agents Welcomed?

Absolutely. However, the commission paid to that agent must be paid by buying party.

Are you really going to sell your home to the highest bidder?

Absolutely. We are 100% committed to this process and look forward to any and all bids

Do I need to be pre-qualified to bid?

No. We will work with the highest/best bidder after the bidding process to make sure you qualify for the loan.

What if I am the highest bidder and I am unable to buy the home for any reason? Absolutely nothing. If you are the highest bidder we will expect you to send us a purchase agreement within the allotted time. If at any time during the escrow period you cannot perform on the contract we will simply return your earnest money, move on to the next highest bidder and cancel your contract. No harm, no foul. Our goal is to sell the home quickly, not to enter into some type of legal process. See the Rules/Terms for more details.

What happens if I bid too much?

Most lenders in this state will perform their own appraisal of the property. If you bid too much your bank will let us know and we’ll have to adjust the price accordingly. Don’t worry about over bidding. Just be the high bidder so you get the first chance to buy the home!!!!

We plan on selling our home to the highest and best bidder on Sunday beginning at 8 PM. A round-robin bidding process will be conducted via phone after the open house/inspection period has completed.

Can we negotiate upgrades or modifications into our final price?

Absolutely. We encourage you to alter and modify it to make it your own. Please be sure to disclose exactly what you would like done in your purchase agreement and we can work out your final price. This allows you to build this cost into your mortgage rather than to pay it out-of-pocket after the fact.

Information on Listing With Us

Information Coming Soon

Property Management Information

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Property/Owner Information Form

For Investors & Sellers Complete the fields below and send your information to us. We will be in contact with you soon.
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Thank You for your submission, browse our site to see all the great services we can offer you.

Past Sellers Tell How Great City Real Estate Worked for Them

Many Sellers and Investors Have Discovered the Convenience and Results Great City Real Estate Provides.

Here are Just a Few Examples:

–From Chad Pierce, RTO Homes LLC, Columbus, OH

In only a few short weeks on the market, Great City Real Estate found me a great, qualified tenant- buyer for my home. Their screening process is thorough and all I had to do was hand over the keys. I would highly recommend Great City Real Estate to anyone in need of filling their vacant property.

–From Ericka, Home Owner, Canal Winchester, OH

We were very satisfied with your service of finding a tenant for our home in Canal Winchester.  Our first tenant realized after two weeks of living in our house that she couldn’t afford the payment and moved out.  While we were shell shocked, you reassured us that we would be able to find someone quickly.  In fact, within one month, we had another tenant in the house thanks to your service.  If we need to, we’ll definitely use your service again!

–From Jason, Real Estate Investor, Columbus, OH

Great City Real Estate provided me with an exceptional experience. They had my first rental property occupied with a quality tenant within two weeks. My second rental property they had occupied within three weeks… AMAZING!

There marketing, screening, and application/contract process is genius. Their resources and expertise far exceeded my expectations.

My two properties were marketed at different times. Great City Real Estate applied techniques relavant to the economic atmosphere at those two individual times. That tells me they continuously adapt to the ever-changing marketing strategies that are most effective. This is what sets them apart and gives them the edge over most structured real estate investment platforms.

With the help of Great City Real Estate, my burdens have been lifted.

Thanks again guys!

It’s always Great to get Positive feedback. Countless other Sellers have had similar Experiences.  We are Proud to say we come highly recommended.

Contact us now, to learn more and how we can help you find a Great Tenant.

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