FAQs

FAQs


General

Are all your sales held online?

  • Yes

What type of properties are available for sale on doordealsnow.com?

  • Door Deals markets studios, single-family homes, one, two, three, and four units, multi-family residences, condominiums, townhomes, mixed-use properties, mobile homes, and land.

Are the properties ‘as-is’?

  • Yes, your due diligence needs to be completed prior to bidding.
  • Can I back out after I win the sale?
    • No, you will be in breach and be responsible for the fees and earnest money which you agree to pay prior to winning the sale.

How does your doordealsnow.com’s sales work?

  • You can not purchase the properties before the sales ends unless you use the “buy now” option to purchase a property, when that option is available.
  • You need to complete a full user Profile and agree to the Terms Conditions and Fees to be able to make an offer.

What fees do I have to pay?

Who pays closing or title fee costs?

  • The party making the winning offer is responsible for both the seller and buyers closing costs; e.g. title and HOA. Most properties have title open at a Title Agency where an investor rate is given to all transactions.

Can I view the property before I bid on it?

  • Yes, Unlike most other sales sites, we allow you to go look at a property before you make your offer. However, you must be completely registered before being granted access to the properties on offer. Some properties maybe occupied.  In those cases an open house is usually scheduled prior to sale date for inspection.

How do I get the digital deadbolt lock code?

  • After registered and being approved to bid, text 602-878-7378, your name, property street name, you would like to view, and brokerage if applicable.

How do I register to make an offer online for property I’d like to buy?

  • From doordealsnow.com go to the Login/Register field at the top of the page.  Follow those instructions. Once logged in, follow the step-by-step registration instructions. Making sure to complete all boxes, the credit card form, and agree to the Terms & Conditions and Fee Schedule.
  • Some properties require additional bidding qualifications and will be identified as such. In such a case, an doordealsnow.com staff member will contact you via email and telephone, providing specific instructions on how to gain approval to make an offer on these special properties.

I am trying to register for the sale but am having problems. Why?

  • Try a different internet browser
  • Make sure the web page is approved on your security settings doordealsnow.com
  • Registration for online sales begins the minute a property is assigned a sale date right up to the sale ending date.
  • Contact Customer Service at 602-878-7378 for assistance.

What else do I need to participate in one of your online sales?

  • All you need to participate is an internet connection and a credit card that will cover your transaction fee, with a completed Profile accepting the Terms and Conditions for making purchases on the site.

What is the earnest money deposit?

  • The earnest money deposit is the amount of money you are required to pay within 24 hours of being declared the winning bidder of a sale. This is usually $5,000.00 (US)

How can I pay the earnest money deposit?

  • The earnest money deposit must be paid by wire transfer or, in special circumstances, a cashier’s check can be accepted. A confirmation that the wire transfer has been initiated by your bank must be provided within 24 hours of close of the sale. There are no exceptions to this requirement. If payment is not made your credit card can be billed for the amount plus a transaction fee.

Can I purchase more than one property at a time?

  • Yes, as long as you have, or are able to acquire, the funds to pay for the properties you purchase, including the separate earnest money deposits required for each purchase.

I am having trouble making an offer online. What should I do?

  • Make sure you have completed the credit card section and the address matches the card in your profile.
  • Make sure you have agreed to the Terms & Conditions and sale fees.
  • If that does not work please contact our Customer Care team via email at [email protected] or call us at 602-878-7378.

What does the contract look like?

  • You can see a sample copy of the contract here

Registration

Do I need to register make an offer on a property?

  • Yes, you need to register to bid on a property. This includes completing the ACH form and agreeing to the Terms & Conditions and sale fees. These can be found on the bottom of our Home Page

How do I register to make an offer for a property I’d like to buy?

  • From doordealsnow.com go to the Login/Register field at the top of the page.  Follow those instructions. Once logged in, follow the step-by-step registration instructions. Making sure to complete all boxes, the ACH form, and agree to the Terms Conditions and Fee Schedule.
  • Some properties require additional bidding qualifications and will be identified as such. In such a case, an doordealsnow.com staff member will contact you via email and telephone, providing specific instructions on how to gain approval to make an offer on these special properties.

What do you do with the information I enter?

  • The information is used to verify your identity. We keep all information in a secure server.

Why is there a business entity name, buying entity name, Selling Entity name?

  • Some investors have a company name and like to put properties in that name or other entity names.
  • We also offer our sales platform to sellers if the property fits the doordealsnow.com property profile. For more information you can call 602-878-7378

Title

Are there liens on some of the properties?

  • It is your responsibility to review the transaction details for each specific property to determine the type of title you will be receiving. Each bidder has the right and should conduct their own due diligence, to include researching the property’s title report and possible liens.

Bidding

What is a reserve price?

  • A reserve price is the lowest price for which a seller is willing to sell a property. If no offer meets or exceeds the reserve price, the seller isn’t obligated to sell.

Why isn't the reserve price published?

  • The reserve price isn’t published because it can be lowered. Depending on market conditions, the seller has the flexibility to adjust the reserve downward in order to sell the property at a price that works for everyone.

Automatic 5 minute time extensions?

  • Every sale has an end time. If any offer is placed within the last two minutes of the sale end date and time, the clock will automatically add 5 minutes to the sale. This allows all buyers the appropriate time to increase their bid if they choose to. The time will continue to extend until no one makes an offer in the last two minutes.

Finance

Can buyers provide their own financing?

  • Yes, but on ALL properties on our site, sales will not be contingent upon financing, escrow closing will not be contingent upon financing, nor will escrow closing be extended for that purpose. The party making a winning offer that is providing their own financing must present a written lending commitment from their lender within 24 hours of being declared the winning offer. Buyers must also allow sellers to confirm the buyers credit status.

Submitting A Property To Sell

Who can submit a property to be soldd?

  • Only the verified owner of a property.  Ownership will be confirmed.

Why would I want to have you sell my property?

  • Our sales process historically brings more money to the sellers and offers a simplified sales process.

What do you charge to sell my property?

  • Currently there is no charge to sell a property you own on the site. There is a fee of $275.00 per property to put the correct lockbox/door hardware on it.  The property does have to meet the doordealsnow.com underwriting review before it will be assigned a sales transaction number, sale date and time.

Can the property be occupied?

  • In rare cases that must be approved, it may be allowed to sell an occupied property.
  • We have found that a Vacant property performs better through the sales process.
  • We highly recommend open houses!