Helpful Site Features

Alerts are available to bidders immediately upon login. The Bidder Alert window will notify you of any emails that have been sent to you by RealtyNoteBid.com, including outbid notices, high bid confirmations, contract questionnaires and contract documents. All of these specific emails are retrievable from your Alert window. While you will still receive emails from RealtyNoteBid.com through your personal email system, you can now also utilize the Alert window to retrieve email notifications and any documents that are linked within those emails.

A bidder has two options to bid on this site. Bidding can be achieved from each Note's Bid Page or from your My Notes page. My Notes is a convenient location to monitor Notes on which the bidder has bid and Notes of interest to you. This feature allows bidders to view and bid on your Notes of interest. Use of the My Notes page is a must (Investors should also take advantage of the site's BidAssist™ feature. See the information below).

My Notes is the simplest way to watch and bid on multiple real estate auction notes. If bidding on only one Note, it is easy to bid directly from that Note's Bid Page. Any Note submitted by a bidder to My Notes will be stored for seven days after the conclusion of an event. This provides you the option to go back and review all bids placed on your Notes of interest for up to a week after each auction event has ended. There is also a link on the bottom of the My Notes page that navigates to My Notes history, allowing the viewing of all activity on each Note for up to six months after the conclusion of any real estate auction event.

Only Registered Bidders May Use The My Notes feature.

BidAssist™ is an automated bid process designed to assist with bidding during an auction even when you are away from your computer. To use BidAssist™, determine the top price you're willing to pay for a particular Note. When submitting your bid, you enter the maximum amount you'd be willing to pay into the BidAssist™ box. The BidAssist™ system then compares your bid to those of the other bidders. The BidAssist™ system places bids on your behalf, using only as much of your bid as is necessary to maintain your high bid position. BidAssist™ only bids one bid increment at a time against an opposing bidder and will bid up to your maximum amount.

If you are a Note’s high bidder and are logged in, you will have the opportunity to “update” your BidAssist. When applicable, the “Update BidAssist” button is available just below the “Place Bid” button on each Bid Page. Via "Update BidAssist," you can raise, lower or end your BidAssist amount. Please note that if you choose to end the use of BidAssist, our system will stop bidding for you but CANNOT delete bids that have already been made for you using your previously chosen BidAssist amount.

If the bidding for a Note is moving rapidly and you try to place a bid that is lower than the current leading bid, but your BidAssist™ amount is higher than the leading bid, your bid will be taken at the next available bid increment above the current leading bid. For example, if the current leading bid is $100,000 and you place a bid of $99,000 with a BidAssist™ amount of $105,000, the computer will reject the $99,000 but will accept and place your bid at the next bid increment of $101,000 (assuming a bid increment of $1,000). You will then be protected up to your maximum Bid Assist™ amount of $105,000 against other bidders.

BidAssist™ is extremely helpful if you must be away from your computer during the close of auction bidding. It is also useful if you are bidding on several real estate auction notes and want to ensure all of your bids are placed properly during the close of the bidding. Occasionally, at the close of an event, a bidder may have difficulty placing his bid due to heavy bidder traffic or the slow connection speed of his computer or ISP.

BidAssist™ is used as a tiebreaker. For example, if two bidders end in a tie for a Note, the bidder who placed the bid first through BidAssist™ will be declared the winner because the BidAssist™ was the first bid placed and has priority over the other bidder; however, if your BidAssist™ pushes another bidder to their maximum BidAssist™ amount, you will be required to top that bidder's amount by the next bid increment. The system will not allow you to just match another bidder's maximum bid, unless both BidAssist™ amounts are exactly the same. In this rare case only, the first BidAssist™ amount entered into the bidding system wins.

BidAssist™ is now active for the highest bidder after the real estate auction bidding ends if that bidder has chosen to carry over BidAssist™ into the Post Auction phase. For many Notes, if the Note's reserve price is not met prior to the conclusion of bidding, a Post Auction/Negotiation period will ensue. Post Auction activity for the Note can be monitored at that Note's Bid Page under View Post Auction. It is the bidder's responsibility to monitor the activity on the website regarding Post Auction offers during that time. For the highest bidder at the conclusion of the bidding, the BidAssist™ feature will remain active and protect that bidder to his maximum amount even during the post auction period if he so chooses. This feature is only activated during the post auction period if, when he places his bid, the bidder checks the box to indicate that he wants his BidAssist™ to remain in effect during the Post Auction process. This required box reads:

"Would you like to carry your BidAssist into Post Auction negotiations if you are the High Bidder at the end of the auction and the reserve price has not been met?"

The owners of the Notes on this site have assigned to each Note an undisclosed minimum acceptable price, or a "reserve price." Until a Note meets this reserve price, the owner has the right to accept or reject the offered bid price. The reserve prices are undisclosed and programmed into the site. Once the reserve price is met for a specific Note, the Note's Bid Page and the My Notes page will specify that the reserve has been met, indicating that the Note's owner will more than likely accept the price.

For many of the Notes auctioned on RealtyNoteBid.com, if, at the end of the auction, the Note's reserve price has not been met, the Note enters into the Post Auction process, which allows bidders to continue to make offers to purchase the Note. It is important to note that although Post Auction Notes often include a countdown (i.e.Up To 6 Days Left!, Up To 3 Days Left!, etc.), these countdowns disclose the time the Note will remain on the website and available to receive Post Auction offers; the countdown clock is NO GUARANTEE that the Note will remain on the site for that entire amount of time. Post Auction offers are presented to the seller daily and a seller may elect to accept any offer at any time resulting in a deal being made with a bidder and the Note being removed from the site.