How to Bid on Real Estate

Unsure how to bid on real estate? The online bidding process is easy.

Step 1 - Register to Bid

To bid, you must first register on the site. Registration is free, but you must create an account and login before you can place a bid.

Please note that we do require a valid credit card to verify that you are of legal age. Registering on ListaBid.com is FREE and your card will not be charged when you create an account or bid on property. If you bid on a property and win, you will have 48 hours to send certified funds. If your funds are not received by the end of this time period, your credit card may be charged the Earnest Money Deposit to guarantee your win.

Step 2 - Place a Bid

When you are ready to place a bid on a property, enter your maximum bid (the highest amount you are willing to pay) into the field in the gray box and then click the "bid" button. Your bid will be entered as the next increment. As the auction proceeds, every time you are outbid the system will automatically bid for you up to your maximum bid.

For example, this property has a current bid of $10,000 and a bid increment of $1,000. If you enter a maximum bid of $15,000 the system will change the current bid to $11,000, since this is the next allowable bid amount. If another buyer places a bid of $12,000, the system will bid $13,000 on your behalf.
Now let's say that another buyer placed their maximum bid at $20,000. The current bid will be changed to $16,000 because this is the bid they have placed to beat your maximum bid of $15,000.

Step 3 - Win an auction

If you are the highest bidder at the close of the auction, you will receive an email to let you know that you have won the property. You will then be contacted by a ListaBid agent to complete the auction.

You will need to provide:

• $2,500 (single property) cashier's check (made payable to yourself) or cash.
• Personal check or cash to pay the balance of the required 5% Earnest Money Deposit due on auction closing day. A 10% Earnest Money Deposit is required for each additional property purchased with $5,000 due within 48 hours of winning the bid.
• Valid photo ID such as a driver's license or passport
• 2 years of tax returns and W-2's, and the last 30 days of pay stubs are recommended to help expedite the process.

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