WaterFront.Bid
WaterFront.Bid
CREATE a PROFILE: You must give credible information.
- Click Log In: User Name and Password
- (new) SIGN IN HERE (1st time create new)
REGISTER FOR AUCTION:
- Request Approval
- Register for Auction
CLICK EYE: Watch the bidding. Stay Alert.
RESERVE MET: The Property may sell as soon as the words “RESERVE MET” turns green in the space below the bid box. There may not be a time clock associated or expiration date. THE SELLER HAS AUTHORIZED THE SALE AS SOON AS “RESERVE MET” turns GREEN
RESERVE NOT MET: This Statement is indicated in RED “RESERVE NOT MET” and will remain in that position until the light turns green…which means the sale has been authorized to the buyer who complies with the Terms and Conditions of Sale.
WHAT is the RESERVE: When bidder enters a number in the Bid Box you will receive a notification.
- Reserve has been met or Reserve has not been met.
- You may receive a notification "BID AGAIN"
What happens if someone else made a higher MAX BID...?
- You will get a notification: Another bid equal to or higher than your bid has been placed. "BID AGAIN"
HOW BIDDING WORKS: Bids are entered into the BID BOX in two ways.
1. MAX BID: You can type the HIGHEST AMOUNT you are willing to pay. Example: Type in 500,000
2. NEXT BID INCREMENT: You can simply bid the next increment shown. Bid 501,000 as shown
WHEN is it over...?
When the RESERVE is MET
This can happen quickly
When does the AUCTION end...? As soon as the light turns GREEN and says "RESERVE MET"
The Auctioneer has authority to end bidding in two ways:
- Award the highest bidder that will attend to the Terms and Conditions of Sale.
- Implement a time clock until the TIME EXPIRES if two or more people are making competitive bids interactively.
- If a single bid is made that allows the RESERVE MET to turn GREEN and no other competitive bids are imminent. The AUCTIONEER MAY AWARD the bid to the bidder that will attend to the Terms and Conditions of Sale.
Information About Brokerage Services
Texas Real Estate Commission Consumer Protection Notice
