Property Exchange.com RBID Frequently Asked Questions




Find a Deal on an Auction Based Home

What is an RBID Home?

RBID Properties Include Foreclosures, Bank Owned Properties, Builder Closeouts, Corporate Owned Homes, Divorce Sales, Property Exchanges, Distress Sales and other highly motivated sellers.

Why Choose an RBID Home?

RBID homes have been certified by industry experts to be the best deals and the best homes available on the market today. If you purchase an RBID home and become unsatisfied with your home purchase within 24 months, we will buy it back from you.*

- RBID Homes come with a Warranty against defects!
Buyers receive a FREE 12 month Home Owners Warranty protecting them against mechanical defects.

- Hassle Free Bid Brocess!
Buying an RBID home is easy and hassle free. Through a unique and hassle free bid process, the home buyer has ample time to preview the property, make any inspections, initiate any and all proper due diligence and secure the property under contract for a smooth on time closing.

- Real Estate agents love to help Buyers buy an RBID home. Selling Brokers receive up to 33% more commission when they sell an RBID property.

How does RBID Work?

All interested buyers submit a bid, prior to the bid deadline. All bids received prior to that time will be reviewed by the Seller and responded to according to the offer, terms and deadlines. All bids submitted must be on a Realtor Board Approved Purchase and Sale Agreement. All amendments and exhibits must also be submitted with the bid on Realtor Board Approved forms.

If the RBID property is being listed as active in the local MLS as well as advertised as available on this web site, then the property is available for bids. Please be aware that multiple offers may be submitted. Total number of bids as well as any offer terms will not be disclosed.

FAX your bid before the bid deadline to the listed agent. If you do not receive a confirmation of receipt of your offer from the agent, please contact them directly by phone or email.

If you would like to receive a copy of the sellers property disclosure, pre-listing termite letter or have any questions about an RBID property, please fill out the online feedback form. Be sure and indicate in the comments the property address the buyer is interested in and specifically what you are requesting. Your request will be processed as soon as possible, usually within one business day.

Pricing and terms of any bid/offer to purchase are subject to Sellers approval.
*Some conditions and restrictions apply to the guarantees and warranties provided to buyers of RBID properties. Call the listed Agent for details and restrictions.