How to Buy a Property from One Day REO
Benefits to the Buyer
It's Quick & It's Easy
It's quick because a typical auction lasts 20 to 30 minutes. At it's conclusion you know immediately whether you are the winning bidder. This eliminates prolonged and costly negotiations that often accompany traditional brokerage sales. It's easy because the One Day REO team assembles detailed Property Information Packages (P.I.P) on each auction property to assist you in your review & due diligence. This allows you to quickly understand a property & determine if it meets your needs.
Name Your Price
Buying at auction allows a purchaser to name their own price for a property, not some pre-established listing price. With the open forum of a cry-out auction, a bidder can confidently be assured true market value.
What's The Process?
- Review the properties listed for sale on the One Day REO website, and contact a One Day REO team member if you have questions about any of the properties.
- Pre-Register for the auction at https://onedayreo.bidwrangler.com/accounts/sign_in
- Receive a password-protected login to the Property Due Diligence website to review all of the property information.
- Attend a Property Preview Tour before the auction, and speak with the One Day REO real estate agents who will be at the tour to answer questions.
- Make sure you have arranged your financing if you are interested in bidding on a property at the auction. Almost all of the auctioned properties are sold “as-is”, with no contingencies. Consequently your financing needs to be arranged prior to the auction. Let us know if you need a recommendation for one of our preferred lenders who may be able to provide you financing.
- If you are going to bid at the event, make sure you arrive early to check-in. The One Day REO team will be in attendance to answer any last minute questions you may have.
- Make sure you have read through all of the Terms & Conditions for the auction, so you come prepared. Most auctions require you to bring certified funds to the auction to pay the deposit for any property for which you are the winning bidder.
- If you are bidding on-line, make sure you have a good internet connection so there are no problems with you participating in the auction.
Good Luck. We hope you are successful at the auction, and hope that you enjoy participating in the One Day REO event.