The Bidding Process with Bid on the City - for Properties for Sale

BidOnTheCity.com makes buying Manhattan and Westchester commercial and residential properties simple. BidOnTheCity.com is the most sophisticated bidding system that allows buyers to bid in person at our Time Square Bidding Center. See BidOnTheCity.com Bidding Center. Also, any buyer can bid live via the Internet while watching video and audio transmitted in real time worldwide. One of the major advances of BidOnTheCity.com is that there is no difference between bidding in person or via the Internet.

Each bidding event includes only one property and lasts no more than 30 minutes. The bidding ends earlier if more than 2 minutes passes after the last bid is entered into the system. See Bidding Rules.

All bidders must register as a member and enroll to bid prior to the bidding event. The registration is free and very simple at www.BidOnTheCity.com. There is no phone or e-mail registration.

You would log on at www.BidOnTheCity.com with your screen name and password. Once you logged on, please click on "Buying" in the top right corner for your already saved properties, then click the "Enroll to Bid." The system would show you what bidding event(s) you have registered for. The countdown clock shows when the bidding event starts.

15 minutes prior to the bidding event, the system will allow you to access the bidding screen window if you visit the property details page. If, at the time of you log in, the bidding event is already in progress, you can click on "Bid Now" and go directly to the bidding window. The bidding screen window includes all the bidding functions for your use (bid, change increments, property information, etc.) as well as video and audio streaming of the bidding event. This is the same screen that all live and online bidders see and use during the bidding event. A large high definition screen in the Bidding Center is showing the same image of the bidding screen window.

Prior to each bidding event, the Bidding Host will briefly introduce the property and bidding rules to on-site bidders. Once the countdown clock reaches 0, the bidding starts for both the on-site and online bidders.

To bid you will simply click on the "Bid" button. The "Bid" button is preprogrammed for a minimum bid (increment), but you always have a choice to raise the increment by clicking 5 listed increments or make the increment of your choice by scrolling up next to the "Bid" button. No bid may be lower the minimum increment. No bid can be higher than $100,000.

Each successful bid will be reflected on the screen under bidder's unique screen name. If several people place the same bid, only the bidder who placed the bid first will be reflected on the screen. No bid is considered accepted unless it appears on the screen and announced by the Bidding Host. The system gets updated in milliseconds and any bidder can always see the currently available minimum bid and the bidding history.

As long as there is at least a single bid, the property is sold for the price of the last bid. If there are no additional bids after 2 minutes, the system will automatically end the bidding. However, the Bidding Host, in her sole and absolute discretion, may choose to extend the bidding beyond the 2 minutes of no activity. The bidding event is closed only when the Bidding Host announces that it is closed and all bidders can see on their screen a message indicating that the bidding even is over.

Upon each successful bidding event, the Bidding Host will announce the winning bidder. Shortly after the bidding event, the winning bidder will receive the contract of sale and rider, if any, together with the closing instructions. See Sample Closing Instructions.

Additional Instructions for Onsite Bidders

Onsite bidders will attend the bidding event at our Bidding Center at 1500 Broadway, 19th floor, New York, NY 10036.

On-site enrollment is limited. Register Now. We strongly advise to enroll at least 24 hours in advance to avoid any disappointment. You can only participate in the bidding event for which you enrolled. You can enroll for up to 3 bidding events on any given date.

Upon arrival to BidOnTheCity.com Bidding Center, registered bidders will be given an assigned laptop/tablet. All other instructions remain the same as above.