Frequently Asked Questions

How will I know if I have the low-solo bid at the end of the auction?

When an auction results in a low-solo bid at its conclusion, the bidder with the lowest single bid is deemed the auction winner and has an entitlement to purchase the property at that bid price. The final buyer will be contacted via email and provided all necessary documentation to finalize the purchase contract for the auctioned property. All other bidders will also be contacted via email as to the status of the auction at closing.

Will I have an opportunity to inspect the property before I place a bid?

Properties are in "as-is - where-is" condition and all auctions close on Sunday at 7:07 pm PST. If a buyer desires to view the property or have the property inspected they must do so at their own expense. All inspections shall take place the Saturday 8 days prior to the close of any auction between the hours of 10:00 am-12:00 pm local time. All inspections must be scheduled a minimum of 72 hours in advance. As the purchase price is set by the buyer, NO concessions to price will be made at any time during or after the auction closes.

Will 10 Dollar Home Deals.com be able to offer seller financing?

Seller financing is available based upon credit worthiness of winner and final purchase price but not to exceed actual winning bid price, 20% of Zillow Estimated Value, or $15,000; whichever is less. Since it is 10 Dollar Home Deals.com desire to help as many families as possible realize their ‘American Dream' it is our intent to offer seller financing to all needy candidates despite previous financial challenges. However, we do reserve the right to withdraw this offer in extreme cases of credit unworthiness (i.e. habitual defaults on credit accounts, criminal conviction of fraud or financial malfeasance, no provable source of income, etc.)

When do I have to show proof of funds?

Buyer may provide their own financing but must present proof of funds within (7) seven days from the close of auction. If the buyer has not presented the proof of funds within the (7) day period, 10DollarHomeDeals.com has the right to offer the property to the next low-solo bid for purchase or to re-auction the property at our discretion.

Do I have the right to not purchase the property if I'm the low-solo bid at the end of the auction?

Yes, you do have the right not to purchase the property. The property will then be awarded to the next low-solo bidder for purchase or re-auctioned at our discretion. No refund of bid-option money will be awarded.

Do I ever see the current bid amount on an active auction?

No, the reverse auction is a blind auction, which means that you will never see the current bid amount. When each bid is placed the system will let you know if you are either solo or not and lowest or not. In addition should you be low-solo bid and are either underbid or bumped out because someone covers up your low bid then you will be notified via email, thus giving you the option to place another bid and regain the low-solo position. CAUTION: due to the nature of the internet and the unpredictability of email routing and delivery 10DollarHomeDeals.com does not guarantee the timely and/or final delivery of any courtesy email notification.

How will I know when the auction will end?

All auctions are timed and every auction will have a countdown clock beside the property so you know how much time is remaining in that auction. The countdown clock runs on Pacific Standard Time and the auction will be closed by our servers exactly at the moment shown on the clock. Only bids made before the close of the auction will be accepted and/or considered valid.

If I buy more than one bid credit, can I use them on future auctions?

Absolutely. We've made it easy for you to buy multiple credits at a discounted rate. You may use your credits all on one auction, you may apply them to several concurrent auctions, or you may store them and use them on future auctions.

Does 10DollarHomeDeals.com have the right to close or extend an auction?

In order for a reverse auction to work for both the seller and the buyer, we must receive a minimum number of bids. If the number of bids has not met our pre-determined threshold, 10DollarHomeDeals.com either reserves the right to extend the auction until that number is reached or close the auction completely. If the auction is closed, all bid credits will be returned in full to the bidder within 10 business days in the form of credits and will be kept in the bidder's account on our website for future use.

What happens if there is no low-solo bid at the end of the auction?

In the unlikely event an auction does not produce a low-solo bid at its conclusion, then the bidder who made the first bid on the lowest bid amount with only two bidders is the winner. This is the tie-breaker, so it does pay to bid early and not wait until the end of the auction to place your bid.