What is the “Buyers Premium” – Using our Home Auctions option, real estate commission can be paid by the seller, the buyer or both. The buyer’s side of the commission is called “Buyer’s Premium”. (Highest Bid + Buyer’s Premium = Sales Price)
This is the MOST transparent way for a seller to offer 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 offer different terms, conditions and buyers premium, so be sure to research the property and all of the details on the property bid page. The Buyer’s Premium is normally 5%-6%
Property will be available for viewing only on the day(s) of the open house (unless agreed otherwise)
Buyers must be approved for bidding manually by the seller or seller’s agent.
Sellers reserve the right to accept, negotiate or reject the highest bid.