Welcome to RealtyNoteBid.com. The only website which allows an investor to acquire real estate by purchasing non-performing real estate loans from lenders just before the foreclose sale. At the foreclose sale, the investor will typically end up with title to the property or make an intimidate profit if outbid by another bidder.
RealtyNoteBid.com is easy and simple to use. Lenders use our website to post detailed information about the properties securing the loans going to foreclose; we'll call them notes. The auctions range from 10 to 45 days, during which time investors can bid on them. Once a winning bidder is determined, a quick and simple closing process usually takes place. RealtyNoteBid.com is paid a nominal internet transaction fee for its services which is added to the buyers purchase price, we identify each note's fee on its information page. Now lets take a look at how the website works.
RealtyNoteBid.com offers investors a very simple bidding process. Before you can bid, investors must register. Registration requires a screen name and password. We suggest that you do not use your name. A credit card is required to register to insure that bidders are of legal age and are real persons. The good news is that there are no fees to register or bid; and no fees will be billed to your credit card for bidding or purchasing real estate loans on this website. All credit card information is secure and confidential.
When you place a bid, your screen name is displayed but your name remains private. Next, search for the notes on which you want to bid. There are 2 ways to search: you can search from the national map, or you can search from the category's displayed the left side of the web page. You can search a particular state or use the address search feature as well. Once you locate the note click on the address or photo to bring up the information page, which has details about the property, which secures the note.
When you are ready to bid click on “place bid” under the photograph and include your screen name, password and the bid amount. You can also use BidAssist™, which will protect you up to maximum bid amount. BidAssist™ is an automated program designed to assist with bidding, even when you are away from your computer. To use BidAssist™, determine the maximum price you are willing to pay for a particular note. The program then compares your bid to those of the other bidders and places bids using only as much of your bid as is necessary to maintain your high bid position.
Be sure to read more about BidAssist™ in the site features section of the website. Be sure you understand the terms of bidding before placing your bid. Submit your bid, confirm your bid then you are finished.
Some of the notes auctioned on RealtyNoteBid.com will not meet the lenders reserve price. If this occurs the note enters into the post auction process, which allows bidders to continue to make offers to purchase the notes. During the post auction the website may include a countdown of the number of days left. These countdowns disclose the time the notes will remain on the website and available to receive post auction offers. However, the countdown clock is no guarantee that the notes will remain on the site for that entire time.
Post auction offers are presented to the seller daily and the seller may elect to accept any offers at any time; resulting in a deal being made with a bidder, and the note being removed from the site. Once a bid has been accepted by the lender we will notify the winning bidder via email. The email will provide a link to a mandatory questionnaire you will need to answer immediately and submit to the RealtyNoteBid.com contracts department. Once the questionnaire is completed a note purchase agreement will be emailed within 1-2 business days. It is important to note that no changes can be made to the note purchase agreement. Upon receipt you'll need to print the documents, sign and initial, attach the original certified deposit check and send via overnight mail back to RealtyNoteBid.com or the closing agent using the provided prepaid overnight label. A sample of the note purchase agreement is available under the practice bidding section of the website.
RealtyNoteBid.com will st up an escrow with a 3rd party closing agent identified in the note purchase agreement, who will assist in the closing of the lender and help you to coordinate foreclosure sale with the trustee.
We encourage you to go through our website so that you can become more familiar with it and our terms and conditions.
We believe that RealtyNoteBid.com provides investors the with the easiest and most efficient way to acquire real estate today. Good luck with your bidding.
