How do buyers benefit from using BidLion?
- Disclosing all terms in the public view creates transparency and allows you to see the entire playing field when competing for a home you really want.
- No deposits are required, which means you can relax and compete for multiple homes at the same time without being stressed about time or outcomes.
- You are always in the loop and don't have to bug your agent for details because: 1) You are free to bid yourself after your agent registers and confirms your relationship and financial qualifications, and 2) If your agent is acting on your behalf, you will receive instant email notifications.
How does it work?
There are no deposits required and all offers are informal, non-binding bids submitted for evaluation by the seller:
- Your agent or you—if you are registered and your agent confirms your relationship and financial qualifications—visit the listing page of a property that interests you to submit an offer.
- The seller is instantly notified of the offer and its terms and weighs them against your competition's.
- The seller decides at any time to stop collecting offers and invites the buyer with the most attractive terms to submit a formal, traditional offer via their agent's standard local contract.
How much does it cost and who pays?
You, the buyer, pay nothing for the use of our service unless the seller instructs their listing agent to attach a Buyer's Premium to their listing, which can range from 1% to 10%. In such cases, the Buyer's Premium will be automatically included in the purchase price of your offers, which translates to an extra, financeable cost for you.
(Note: A Buyer's Premium will almost never be used for traditional listings and is more commonly used for bank owned properties.)