SPECIAL AUCTION REQUISITES AND BENEFITS

IMMEDIATE BENEFITS

You may participate for as low as $1.00 auction registration fee**
The membership activation is for 1 year from entry date, as an added introduction benefit you may also participate in as many other regular auctions during said year without the need to sign up for a new membership.
You will receive up to 10 calendar days in advance new opportunities to enter other auctions before the public. (member only auctions)
Regular auction pricing will range from $299.00 to $499.00 auction registration fee, and you may participate in as many as you wish*
You will be able to purchase from participating affiliates for extended discounts for members only pricing
Friend(s) and family only auctions referral program** (https://eco-onebrandhomes.com/referrals/) (**must have membership number at hand for proper credits)
Maximum members per special auction will not exceed 8500

How does it work: “The highlights”

(full site policies will be provided to you upon membership registration, mandatory)

This is not your typical auction, we are looking for the last bidder, not the highest
All bids may only be increased by the amount of $1.00
The auction will take place in a specific day and time assigned by the auction house and or owner of the property, upon registration to the special auction you may not change the property assigned
Upon payment of the Special auction membership, you will have six calendar days to select the property and be assigned to you
All auctions will take no longer than 1:00 Hour (reverse clock)
Upon completion of the auction, a third party will verify and certify the auction winner

MORE HIGHLIGTS AND PRELIMINARY DETAILS*

(*full terms of use and acceptance of Mandatory membership agreement will be required)

Bidding Process.

To participate in the online auction the following steps must be followed:

You must pay the Auction Registration Fee to participate in the specific auction. This is a non-refundable fee you must pay for each auction you choose to enter. The Auction Registration Fee will be paid for whenever the member selects the “Register for Auction” button on the Property Detail page for each property. Acceptable payment methods include credit card, debit card, electronic check, PayPal, Google Checkout, or other methods that may be available on the website.
Once bidding begins, each bid that you place will increase the price of the property by one U.S.D. ($1.00US). Each member participating in an auction can view the amount of bids that they have entered in the Your Current Bid Amount section on the auction block.
The winning bidder is the member who is the last person to bid when the auction timer reaches zero (0).
If you are the successful bidder at the end of the auction you will be responsible for paying the winning bid amount that is displayed in the Your Current Bid Amount section on the auction block. Note that all winning bid amounts will be added to the property closing statement (HUD-1) for payment at the property closing. The winning bidder will receive an email at the conclusion of the auction containing payment and property closing instructions
Additionally you will be responsible for paying the closing costs which may range from $500 to $10,000 depending on the final auction price. All closing costs are to be paid by the winning bidder per the instructions provided to the winning bidder. The title to property will not transfer to the winning bidder until the winning bid amount and all closing costs are paid in full. Refer to 29. SUCCESSFUL BIDDERS & 30. CLOSING PACKAGE for full details.
If you are a losing bidder, you will have no additional fees. However, the auction registration fee is non-refundable.

HOW THE AUCTION WORKS.

There must be a minimum number of bidders before any auction begins. An auction will begin seventy-two (72) hours after the required minimum number of bidders has been achieved. Auctions will be held from 12pm to 8pm on the third (3rd) day after the minimum number of bidders has been obtained. All bidders must be fully registered and confirmed by RealBidWinner.com no less than one (1) hour prior to the actual start time. No additional bidders will be allowed to enter once the auction has started. You will be notified of the anticipated start time via e-mail, and it will be posted on the website. There will be a three (3) hour count down to the actual auction start time. RealBidWinner.com will not be responsible for any missed start times for any reason whatsoever, including but not limited to the technical failures, or mis-delivery of the notification of auction start emails. You are solely responsible to be available for the auction at the time announced.

ODDS OF WINNING. Each auction will have a minimum number of required registrants and a maximum number of allowed registrants depending on the property’s estimated value. In as such, the range for any odds of winning can be easily determined and is set forth in the chart below entitled “Minimum Requirements for Auction and Odds of Winning” (Market values are for sample purposes only, odds will be determined based on the amount of members that paid the corresponding auction registration fee)

SUCCESSFUL BIDDERS

In the event you are the successful bidder you must immediately make payment based on the instruction given to you by RealBidWinner.com or Eco-Onebrandhomes.com within 7 days of the close of auction or receipt of the closing package which ever occur later. Any failure to make the payment in the manner requested shall make void your successful bid. You will be responsible for paying the winning bid amount and closing fees, in the range of $500 to $10,000, depending on the purchase price of the auction.

CLOSING PACKAGE

The final closing package for the property will be prepared within 7 business days of the auction. You will be contacted by a representative of RealBidWinner.com, owner or other closing agent for the handling of the closing. Your closing package will include a HUD1 Settlement Statement, Buyer’s Closing Documents, disclosures, copy of lien search (if available), copy of survey (if available), and any other documents reasonably required to close the transaction. Upon receipt of the closing package you are responsible for executing the closing package in a timely manner return the Executed HUD 1, Buyer’s Documents and any other reasonably requested documents in a timely fashion. Any unreasonable delay may result in the voidance of your successful bid and a forfeiture of you bidding fees. Upon full execution of the closing package, you will receive a fully executed copy of all of the closing documentation along with a title commitment to ensure title in your name. After the title has been properly registered in the Public Records of the county where the property lies, you will receive a final original Warranty Deed, and Title Policy. This final original Warranty Deed and Title Policy is usually received between 6-10 Weeks after the fully executed closing. The closing and all related title work shall be handled by a fully licensed law firm or title agency licensed in the state in which the auctioned property is located.