Frequently Asked Questions (FAQ) - Selling
Inquiries about Selling
Question: What is BidOnTheCity.com?
Answer: BidOnTheCity.com is the most advanced real estate listing and bidding platform to sell, buy and rent residential properties. BidOnTheCity.com currently lists properties located in Manhattan, Westchester and Hamptons. BidOnTheCity.com was called the "sophisticated technology" by New York Times and "Ebay for apartments" by CNBC. Learn More.
Question: Why use BidOnTheCity.com?
Answer: BidOnTheCity.com has a unique, accelerated approach that can sell your property extremely fast -- 30 days after listing! You set an accepted selling price, and benefit from a local and international pool of motivated buyers. Learn in 2 minutes what BidOnTheCity.com has to offer.
Question: How do I list with BidOnTheCity.com?
Answer: Give us your property address. Receive and review your No Obligation Sales Proposal Package which includes the detailed property information, market report and comparative sales as well as the proposed Listing Agreement and Contract of Sale. Review and approve online. That is it. Learn More.
Question: Do I have to agree to the minimum sale price for my property before I list with BidOnTheCity.com?
Answer: Yes. The minimum price that you agree to becomes the "reserve price". If the bidding reaches the reserve price, you must sell your property to the successful bidder. If the bidding does not reach the reserve price, you have 24 hours to accept or reject the sale. See Listing Agreement.
Question: What is the starting bid?
Answer: All the bidding starts at $1 regardless of reserve price, it provides uniformity for all the listed properties.
Question: How do I know the true value of my property?
Answer: Your No Obligations Sales Proposal Package includes the latest market report and comparative sales. In analyzing your property's value, we rely on multiple criteria, including the age and location of your property, the title history, comparative sales by location, by radius, by property type, by square footage and many more.
Question: Will BidOnTheCity.com offer services as customarily offered by local brokers?
Answer: Yes. BidOnTheCity.com package to Sellers also includes everything that sellers would expect from top brokers, including prescheduled open houses, virtual tours, direct mailing and much more.
Question: Does BidOnTheCity.com offer any property outside of Manhattan?
Answer: Yes, in addition to Manhattan, BidOnTheCity.com is offering properties in Westchester and Hamptons making BidOnTheCity.com the only luxury real estate brand operating in these three premium markets - New York, Hamptons and Westchester.
Question: Does BidOnTheCity.com act as the agent for Seller?
Answer: No. While BidOnTheCity.com is a licensed real estate broker in New York and our bidding hosts are licensed New York City auctioneers, BidOnTheCity.com does not act as the agent for Sellers or Buyers. BidOnTheCity.com acts as the real estate listing platform and has no fiduciary relationship with any party involved.
Question: How much does BidOnTheCity.com cost?
Answer: There is no cost to apply. No cost for property Sales Package. No cost for marketing. Upon the successful sale, BidOnTheCity.com adds a Three Percent (3%) Seller's commission to the final bidding price.