Friday, April 13, 2012
Bid4Assets Customer Service: Top 10 FAQs
· How do I register on Bid4Assets?
o In order to participate in any Bid4Assets auctions, you must first sign up on our site. You only need to register one time on Bid4Assets
o Check your email inbox for the Bid4Assets Registration Confirmation message and click “activate your account” or paste the link into your browser. This will direct you to the Bid4Assets homepage
o Finally, sign in to your account to begin bidding on property
o Still having trouble with registration? Check out our video tutorial on How to Register on Bid4Assets
· How do I place a bid on an auction?
o Once you’ve registered, login to your account and navigate to an auction page
o Enter your desired bid amount in the yellow box titled Place Your Bid and click “Bid on this item”
o Confirm that you have reviewed the asset details and agree to our Terms of Service and non-performing bidder policy
o Finally, enter your credit card information, your Bid4Assets password and click “Bid Now” to submit your bid
o County Tax Sales and Department of the Treasury auctions may require a deposit to be submitted prior to bidding
· How do I submit a deposit to bid on a Government Auction?
o Login to your account, navigate to the auction page, and click on “Click Here for Deposit Instructions”
o Follow the step by step instructions which include choosing your preferred deposit method (Certified Check/Money Order or Wire Transfer), reading the County Tax Sale Terms of Service document, and entering your social security number
o Next, continue to the deposit page to display wire transfer or certified check/money order mailing instructions
o Follow these steps, submit your deposit through your financial institution and refer to My Bid Deposits in your Bid4Assets "My Account" page for updates
o For a video demonstration, check out How to Place a Deposit on the Wayne County Tax Sale
· How can I become a seller on Bid4Assets?
o To list an auction on Bid4Assets, you must be a registered user (See FAQ #1 for registration instructions)
o Login to your Bid4Assets account and click “Sell” in the top navigation bar
o First time sellers must complete the prompted identity verification process. You may also complete and return this form to IDverify@bid4assets.com
o To create an auction, choose the “E-Z Lister” tool and fill in the relevant fields to complete your listing
o Prior to releasing your auction, you may be required to submit proof of ownership documents to our Customer Service team
§ In order to expedite the process, you may fax a copy of your proof to (301) 650-9194. Please include a cover letter referencing the auction ID(s)
· Does Bid4Assets offer insurance to protect buyers’ payment?
o We do not offer any type of buyers insurance, but encourage users to perform property research and due diligence prior to bidding
o All Bid4Assets sellers have passed an identity verification test, and may be required to provide proof of ownership documents prior to listing
· When will my bid deposit be refunded?
o Refund processing begins automatically at the close of the auction
o In accordance with our Terms of Service, refund checks will be mailed within 10 business days of the auction close
o You will receive a notification email when your refund check has been mailed
· Can I really buy a house for $1 on Bid4Assets?
o Auctions listed in our $1 No Reserve Homes category may have a final bid price of $1, but could carry additional buyer fees which are stated by the seller and vary by auction
o Pay close attention to the seller's terms, closing costs and Buyer's Premium included in each auction to determine a final auction purchase price
o Please be advised that some of these properties may carry liens, encumbrances or back taxes. Perform adequate due diligence prior to bidding
· How long has Bid4Assets been in business and where is the company located?
o Bid4Assets has been a trusted online auction venue for 13 years. The company was founded in 1999
o Our offices are located in Silver Spring, MD, a suburb of Washington, D.C.
· Can I bid on Bid4Assets without using a credit card?
o In order to place a bid on non-government auctions, buyers must have a credit card on file. This minimizes non-performing bidders
o Credit cards will only be charged if a bidder does not perform after winning an auction ($250 NPB fee)
o Government auctions require bid deposits to be submitted prior to bidding, but do not require users to provide credit card information
· Can Bid4Assets place a bid for me?
o Bid4Assets is unable to manually place bids for customers over the phone or by email
o Registered users who do not have access to the Bid4Assets website but are interested in participating in a County Tax Sale auction may use the offline bidding form found online or request one by sending an email to Service@bid4assets.com. Please note that this service is only available for County Tax Sale auctions