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SellerNation.com - Sell More Inventory, Faster.

FAQs

General Questions

1. What kind of company is SellerNation?

2. How can I see the amounts of other bids?

3. Are there other offers?

4. Does the seller have to sell to the highest bidder?

5. How can I register to submit a bid?

6. Can I submit a bid if I am not an agent?

7. When I tried to register, it said my license number is not unique. What's going on?


1. What kind of company is SellerNation?

SellerNation is a licensed real estate broker in the states where we do business.  


Our proprietary software uses an auction process whereby multiple buyers can submit sealed bids by a specific deadline for the seller to review on a specific date.

We couple the best parts of an auction with a full-service brokerage that fully represents the interests of the seller in every transaction.

Like a traditional brokerage, our process permits a buyer to perform inspections within a negotiated time period and allows the buyer time to obtain a final mortgage approval if necessary.  Our purchase agreements include familiar clauses and terms that are easy for buyers and agents to understand. Our process requires licensed agents to submit bids on behalf of their prequalified buyers without upfront deposits.

Like an auction, we use an online portal to provide pertinent terms of property sale, documents for review before bidding, and a method by which a seller reviews bids on a specific date from all interested purchasers.




2. How can I see the amounts of other bids?

You can't.


All offers are queued for review with the seller on the Offer Deadline date.  The seller can accept, reject or negotiate with any bidder they choose at their sole discretion.

This is called a sealed-bid auction.


3. Are there other offers?

If there are other offers, you'll be notified by email via a Multiple Offer Notification/Highest and Best Offer Request.


This notification can only be sent when there are multiple offers.

PLEASE NOTE: The seller is not required to notify agents of multiple bids if they don't feel it necessary, so you are encouraged to submit your highest and best offer up-front. You may not get a second opportunity to increase your offer so make your first offer count.

4. Does the seller have to sell to the highest bidder?

No.


The seller reserves the right to accept any offer of their choosing in their sole decision.

Sometimes highest price is not the main objective. Often other terms may be more important to the seller, such as closing date, post-closing occupancy, type of financing, inclusions/exclusions, etc.


5. How can I register to submit a bid?

You must be a licensed agent in order to submit a bid for one of our listings.  If you do not have a licensed agent, please CONTACT US.


Licensed agents can CLICK HERE to pre-register or you can register on-the-fly when submitting your first bid.

6. Can I submit a bid if I am not an agent?

No. You must be a licensed agent in the state where the property is located in order to submit a bid. Licensing status is verified by our staff, and bids submitted by unlicensed individuals will be rejected.

7. When I tried to register, it said my license number is not unique. What's going on?

It is likely you already have an account set up using an alternate email address.  

To check, enter another email address you already have HERE.

If you never registered on our site before, please CONTACT US and we'll look into it right away.

 

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