How To Submit An Offer

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Auction Offer Process

In order to place an online offer on any property being sold on this website, you must provide either Proof of Funds if paying in cash OR a Pre-Approval Letter from a mortgage lender prior to getting access to the bidding area.

 

You can get your loan approval started.

By creating your account, you agree to accept AND understand the Terms and Conditions of the online bidding process and the IREOnlineOffers.com bidding platform.

Once you have your Approval Letter or Proof of Fund, please click below to set up your membership account.

Again, you must provide either Proof of Funds if paying in cash OR a Pre-approval Letter from a mortgage lender prior to getting access to the bidding area. Registration, Proof of Funds/Pre-Approval, and Offer details must be received NO LATER than 12:00 pm (noon) the day the bidding ends.

If you are not registered and/or you have not provided suitable documentation by 12:00 pm (noon) on the day the bidding expires, you will NOT be allowed to access the bidding on a property!

We also STRONGLY encourage you or your agent to login into your account prior to the end of the bidding time. It is IMPORTANT to understand the steps and functionality needed to place your bid.  Technical or agent support will not be available after 12:00 pm (noon) on the final day of the online bidding process.

CLICK HERE to easily register for access to the ONLINE OFFERS platform.

Working with your own licensed Real Estate Agent or an appointed licensed Real Estate Agent is required. After our listing agent confirms with the seller that the terms and price of your offer are acceptable, a signed State Residential Purchase Contract must be prepared by a Local licensed agent and must be submitted by 5:00 pm the next business day after the winning offer has been accepted by the seller.

 

With the purchase contract, the earnest money shall be deposited with an escrow agent.

A Local licensed Real Estate Agent must prepare the offer documents and initiate the sale.

If you have an agent, the registration page will provide you with the option of entering your agent’s contact information. Once their information is entered, we will email them a review of the bidding procedures. Or, you will have the option to have one of our agents assist you with submitting your offer and help answer any questions. Our agents are experts in this process and can guide you through the entire bidding process from beginning to end and answer all of your questions. They can also explain the financial benefits of working with one of our preferred agents.

Buyers Premium

What is the “Buyers Premium” – Using the IREOnlineOffers.com option, real estate commission is paid in the form of a “Buyer’s Premium”. Buyer’s Premium can range from 0% to 12% of the “Final/Winning Bid Price (not the Final Sales Price). This is set per property and will be in the property listing.

The final sales price is calculated in the following manner:

Final/Winning Bid + Buyer’s Premium = Final Sales Price

NOTE: Realtor Fees are paid from the Buyers Premium NOT the final sales price.

Each property listed on our website will offer different terms, conditions, and buyers' premiums, so be sure to review the property and all of the details on the property page.

The property will be available for viewing only on the day(s) of the open house (unless agreed otherwise).

Buyers must be approved to submit offers online or in-person on the open house days.  If Not Registered before the open house you will need to bring a print and digital copy of the proof of funds or the pre-approval letter to be registered on-site. 

Sellers reserve the right to accept, negotiate or reject the highest bid.

If the seller excepts the online bid, an online bid is a binding agreement and a seller can legally pursue a non-performing buyer. Be sure to contact us if you have questions about the offers process.

Terms You Should Know:

Auto-Offers:  The system can be set to automatically enter offers for you. You choose your starting offer (cannot be less than the starting price) and then determine the increments your offers can increase. (must be at least or more than the minimum increments listed on the property page.)

Then, you enter the “maximum” price you are willing to pay.

The system will begin to activate your offers 6 hours before the end of the offer submission deadline. If other auto-offers are set, the system will manage the process of “offer submission” until your maximum offer has been met. If another buyer has a higher “maximum offer” the system will continue the offer submission process. Of course, if you change your mind before the submission deadline, you can login to your account and manually submit additional offers.

 

At the time all auto offers have been submitted, buyers can still continue to submit offers manually.

One hour before the deadline ends, ALL bidders will start to receive offer updates via e-mail. However, you can monitor the screen for real-time updates and offers.

Offer Auto Extend:  Our system prevents last-second offers by automatically extending the offer time.

If a buyer places an offer within 5 minutes of the end of the offer time, the system will automatically extend the offer time by 5 minutes to allow other buyers the opportunity to respond.

Attention Highest Offer Buyers

If You Have The Highest Offer:  Our Seller’s Agent will contact your agent to discuss your offer to determine the net price the seller will receive. The Highest Offer does NOT mean you have an accepted contract. Once we have discussed the terms of your offer and the seller accepts your offer, your agent MUST submit a signed purchase agreement to the seller within the time specified in “sale terms and conditions” (please see the posting details). If you do not have an agent, please Contact Us.

Remember, the Seller has the right to accept, negotiate or reject any offer.

Notice to the Highest Offer:  Important – If you have the highest offer at the end of the offer process and back out without submitting a contract, you will have been considered breaching our terms of use of our bidding submission system and you may be liable for a $500 withdrawal penalty fee.  We will invoice you for that amount.