On www.bid4assets.com there is an option of selling called The Easy Listing Process which is quick, easy and only takes a couple of minutes! It is ideal for sellers who want to list an asset with a basic description, a thumbnail photo and settlement terms.
Technical Specs for EZ Lister
·Do not use a Mac. EZ Lister works best on a personal computer or laptop running windows.
·It is strongly recommended that you use a recent version of Internet Explorer
On www.ebay.com you will want to list an item as an auction rather than a real estate listing. This will take you to the area of the site where you can begin your ad.
Creating a Title for the Property Listing
This section allows you to provide all relevant information on your asset, as well as inspection details, settlement terms, and any additional terms of sale.
It is important to choose an informative yet concise title for your asset.
TITLE: "California Land: 0.36 Acres of Vacant Residential Land in Los Angeles, CA”
SUBTITLE: “16.84 Miles from the Ocean, near Burbank, CA”
Basic Property Description
Real Estate: Remember to include the following information:
* APN Number (Assessor’s Parcel Number)
* Complete legal description (required)
* Size of property
* Zoning
* Annual taxes/dues
* Utilities available
* Improvements
* Appraised value
* Some comparables in the area
* The telephone number or website for the county (recommended), etc. POA (Property Owner’s Association) or HOA (Home Owner’s Association) dues.
* Enter any additional settlement terms, such as: "Payment must be received within 5 days of the close of the auction."
Auction Requested Timeline
It would be good to let the auction run from Wednesday to Wednesday OR Thursday to Thursday. This gives the buyer adequate time to research the property if they find the property on the weekend. Seven days is a good timeline for vacant land. If the property has a home or building then you might want to double or triple the timeline. (2 to 3 weeks)
Bid4Assets may review each asset listing before making it publicly available. This normally takes 1-2 business days. If your auction is released prior to the start date, it will appear on the site in preview.
On www.ebay.com it will be up to you to edit the listing, and they will not be reviewed. It is a good to have somebody else such as a friend or your coach edit your site because they will catch the imperfections on the site.
I would recommend that you end the auction at 6:00 p.m. Pacific Time. This way you can give everybody in the United States a chance to bid on the property.
Pictures
I strongly recommend that you upload pictures (must be gif/jpeg) of your property if you have one available. If you can get some pictures of the property then you will sell the property for a higher amount. Pictures of the property help promote your item and make it more appealing to buyers.
If you do not have a picture of the specific property, you can upload pictures of the area by going to http://images.google.com/ and type the name of the area or the city. You will be given pictures of the area and then you can click on the picture and save it to your computer.
Adding Additional Pictures to the Auction Description
Adding pictures to your asset description is a free and easy way to increase the marketability of your auction. The EZLister enables you to add a main picture to your asset page, however, to include additional pictures, they must first be hosted (or stored) somewhere else on the Internet. Ask your Internet service provider if they offer any free web space. If not, there are many free picture hosting Web sites, such as:
* http://photobucket.com
* http://www.villagephotos.com
* http://www.imageshack.us/
* http://www.imagecave.com
Once your pictures are online and you have the URLs for them, click on the HTML tab and copy and paste the code (see below) into your asset description. Simply replace the text in blue with the address of your picture. If you'd like to center the picture, or align it to the left or right, simply click on the picture and click on the icon for align left, center, or align right.
Financial Terms
When you list an item on www.ebay.com or www.bid4assets.com then you must have a starting price. Make sure that you cover your costs with either the starting price or the reserve price. A reserve is a value that the buyer must reach before you are legally obligated to sell the property. ***You must cover yourself with one of these prices to make sure that you do not lose money on the transaction based upon what you paid for the property and based on the fair market value of the property.
Fees
Buyer’s Premium is ONLY for www.bid4assets.com, NOT http://ebay.com. A Buyer's Premium is a fee that is charged to the buyer to have the buyer cover your auction fees. It is a seller’s responsibility to add this fee to the winning bid amount and it is included in the total purchase price paid by the Buyer to the Seller. You should charge 10% of the final purchase price of the price to the client as “buyer’s premium or closing costs”.
A document preparation fee is the amount that you charge the individual for document preparation. You will prepare the deed by going to www.vuwriter.com (you must sign up for this free site) and clicking on forms on the left-hand side of the page. Then you will see abbreviations for every state in the United States. Pick one of those states and there are several documents for each state, including deeds. These deeds have been prepared by a title company and have everything that the different states require for a deed.
Payment Methods
You will need to fill in all required financial terms. On www.ebay.com you can use the merchant account called PayPal. Go to www.paypal.com and set up a Business/ Premier Account. This should be a free account, but it will allow you to take more than $500 per month. There will be instructions on how you can connect the PayPal Account with your checking account at your own bank. I recommend that you accept cashier’s checks, PayPal money, and credit cards through PayPal.
Disclaimers
There are certain disclaimers that you should include on each listing. The following are a couple examples that I have seen on the internet. Create something similar to include on your listing. These are not meant to be legal advice, and you should create a disclaimer that meets your needs.
Due Diligence: Before purchasing any property conduct your own Due Diligence. All properties are sold "as is, where is" and in the same physical condition as when we received them. All information on our properties comes from reliable sources such as Property Owner's Association (POA), county, state or other governmental agencies. Ask all questions before your purchase! All questions must be emailed or written. All correspondence is printed, logged and archived. Your bid is a legal agreement to purchase and indicates that you have completed all of the DUE DILIGENCE.
Payment: You are bidding on the FULL purchase price of this lot. This is Not a Down Payment Auction! This is not a tax sale or foreclosure. There are document preparation fees of $175.00 added to winning bid which covers deed preparation, recording fees, transfer taxes and notification to all relevant agencies. The time period for the deed transfer depends on the county, but we will do our best to have the deed delivered between 3-6 weeks after purchase. Payment must be made within 5 business days. Once payment is received and cleared by the bank, then a Quitclaim Deed will be issued and sent to the county to be recorded and then forwarded to you. We accept a cashier's checks, PayPal money, and credit cards through PayPal. There are no past fees or taxes for this Property. All fees and tax amounts are correct to the best of our knowledge. NOTE: If you have a feedback rating below 90% and/or less than 5, then payment must be received within 24 hours through PayPal. The overhead photographs ARE of the actual parcel, however the other photos are of the area and not the actual parcel for sale.
How to Sell on eBay
Follow these easy steps to sell on eBay.
Become an eBay seller.
1. Become a seller by providing a valid credit/debit card and bank account information. If you do not want to provide this information, become ID Verified.
Sign up to accept PayPal (optional).
If you want to use PayPal to accept buyers' credit card and electronic check payments online, we recommend signing up before you list your first item for sale. Register for PayPal.
2. Fill out the Sell Your Item form.
The Sell Your Item form is where you create your eBay listing. Here are some of the sections you will be asked to complete.
o Choose a selling format.
Are you selling through eBay's standard online auction format, setting a fixed price, using your own eBay Store, or listing an ad in the Real Estate category? More about selling formats.
o Select a category.
Explore eBay categories ahead of time to help you choose the most appropriate category for your item. Try searching for similar items and see what categories have been used.
o Write a title.
Be clear, complete, and descriptive. Your title should include words buyers would search for when looking for your item. View tips on titles.
o Select Item specifics.
This option is only available for certain categories. If you see it, fill in the details to help your item sell fast. More about item specifics.
o Write an item description.
Here's your chance to really describe and promote your item. Sometimes it is easier to write your description in a word authoring program first, and then cut and paste it into the item description area in the Sell Your Item Form. Be clear and complete. Be creative, telling the history of your item and why someone would want to buy it. Read how to write a good description.
o Add pictures.
Show off your item with pictures. You can use eBay Picture Services, which lets you add pictures straight from the selling form—and offers some attention-grabbing options. Or you can click Web Hosting to use your own hosting service.
o Choose pricing and listing duration.
How long do you want your listing to run? How many items are you selling? What will your starting price be? Would you like to use a reserve price or sell with Buy It Now? Answer these questions here.
o Provide item location.
Where is your item located? It’s a good idea to include the city and state where the item is located.
o Increase your item's visibility.
Explore the many listing upgrades that can help your item stand out from the other listings. Choose the options that are right for you.
o Enter payment and shipping information.
How will you accept payment from your buyer when your listing ends? eBay recommends offering PayPal--the fast, easy and secure way to accept credit card or checking account payment.
Where will you ship your item and who will pay for that cost? The more details you include on the Sell Your Item form, you will receive fewer questions from buyers and the end of your listing will be easier.
3. Review and submit your listing.
Now you'll see a preview of your listing and a summary of its details. Look this over carefully. If you're satisfied and finished, submit your listing.
Now your listing begins!
And when your listing ends...
4. Communicate with your buyer.
If you use eBay's Checkout service, when your buyer completes checkout, eBay will notify you by email. If you didn't specify shipping and payment details, the buyer can use checkout to request this information. You can also use checkout to send the buyer an invoice.
If you selected not to use checkout, you should contact the buyer directly using email or phone.
Important: You should contact the buyer directly if you have not heard from the buyer or the buyer has not completed Checkout within 3 days of your listing's end.
5. Receive payment.
If the buyer paid with PayPal, you will receive an email confirming payment. If you have not yet registered for the PayPal service, you will be prompted to register to accept the payment.
6. Ship the item to the buyer.
Pack it up well! Use bubble wrap or crumpled up newspaper to protect the item from damage during shipping. Make sure any parts of the item that are fragile are well padded and are located toward the center of the box if possible. You don't want damage from shipping to create problems for you and your buyer.
7. Leave the buyer feedback.
eBay's feedback system helps create a trustworthy community for everyone. Your feedback about your buyer is important information for other sellers.
Guidelines for Selling on Bid4Assets
Gather the information you will need before listing your asset, including:
* Description and specifications of asset(s).
* Due diligence information for bidders such as photographs, proof of ownership, appraisal, plat maps, maintenance records, financial statements, etc.
1 Select Sell an Asset
You must be registered to sell. You will be prompted to login or register after you click on Sell an Asset.
2 Select Start
Select the auction listing package that includes the products and services that best meet your needs.
3 Choose the option New Listing
if you are listing the asset for sale.
4 Choose a Channel
and assign your asset to the most appropriate category or sub-category available.
5 Enter Basic Asset Information
Title - To keep our Web site consistent and easy to follow for bidders we require the following standards and formats for auction titles:
* Sentence Case Please (No ALL CAPS)
* Real Estate: Location + Size + Description (Vienna, VA - 2 Acre Residential Lot)
* Personal Property: Quantity/Value + Description (1.5 CTW Diamond Ring)
* Financial Instruments: Face Value + Security + Performance + Description ($7 Million Secured Performing Promissory Note)
* Intangible Property: Sub-Category + Description (Domain Name: GeeWhiz.com)
Asset Description:
* HTML format – No Tags allowed
* HTML tables are restricted to 650 pixels wide
* Font size no greater than +2
* Images no greater than 320 Pixels (W) x 240 Pixels (H)
* (Hint: This recommended image size is for faster download time and enhanced user experience. Larger images require a much longer download time, making it convenient for users.)
* We recommend no more than (5) images to maintain manageable download time for users.
* All links within the asset description must open a separate browser window.
* We recommend that you include only pertinent information. Bidders may not read your description if it is too long.
* If only limited information is available, please state this clearly so that potential bidders are aware.
* Real Estate: Include APN Number/complete legal description (required), size of property, zoning, annual taxes/dues, utilities available, improvements, appraised value, telephone number for county (recommended), etc. For timeshares include the unit#, fixed/floating week and maintenance fees.
* Personal Property: Make, model, serial number, specifications, year/age/hours used, maintenance, size, cut, color, clarity, etc.
* Financial Instruments: Position of note, performance, origination amount and date, payments, balance of note, amortization schedule, etc.
* Intangible Property: Description of asset, registration date, etc.
6 Auction Requested Timeline
* Start Date: Monday - Friday during Bid4Assets' regular business hours (8am - 6pm ET)
* End Date: Tuesday - Friday during Bid4Assets' regular business hours (8am - 6pm ET)
* We do not recommend closing auctions on a Monday to ensure adequate time to respond to bidder questions from the weekend.
7 Select Financial Terms
* Bid4Assets recommends NO RESERVE auctions to encourage the most bidder participation.
8 Settlement Terms
* Choose the method(s) of payment you will accept.
* For Jewelry auctions, be sure to include your refund policy.
9 Listing Fees & Options
* Review the fees and promotional opportunities.
* Bid4Assets recommends selecting promotional opportunities to increase exposure of your auction.
10 Asset Listing Confirmation
* Review your listing.
* Agree to the Bid4Assets User Agreement and the auction listing guidelines.
* Click "Finish" (once you click "Finish" you will no longer be able to make any changes).
11 Congratulations
* Review listing by clicking on the link provided.
* Record Auction ID # for your records.
* Upload your due diligence materials using one of the following methods:
1. Include images and links to due diligence in your asset description using html:
o Example for image:
o All links must open in a separate browser window. Example for link:
link description to be hotlinked
2. Upload due diligence directly to the Bid4Assets Web site:
o Click on the link to edit your auction listing from the congratulations page, or go to sell and asset and select the option to edit your auction listing.
o Follow the directions to upload images (jpg or gif format) and documents (pdf format) for your auctions on hold.
3. Send due diligence to Bid4Assets (for Deluxe Listing Package only):
o Include your name, email address, asset title and auction id # with all communication.
o Email images or scanned documents to service@bid4assets.com with the auction id # in the subject line. We will post your photos/documents for you. Or,
o Fax hard copies of documents to (301)650-9194. Or,
o Mail photos/documents to Bid4Assets. Do not send originals.
Bid4Assets
Attn: Client Services
8757 Georgia Ave (Suite 1330)
Silver Spring, MD 20910
Important Quality Review:
Please allow 1-2 business days for quality assurance review and posting of due diligence once the information has been received (when applicable). For new sellers and for all assets valued over $1,000, we require a copy of your proof of ownership. This can be faxed to (301)650-9194. Your auction listing will remain in hold until we receive a copy of your proof of your ownership.
A dedicated Account Manager will contact you if more information is required and to get your approval of your auction listing before it goes live on the Web site.
Questions:
If you have questions, please contact Client Services at service@bid4assets.com or call us at 301-650-0003. Our business hours are Monday - Friday, 8am - 6pm Eastern Time.
Thank you for your business!
Disclaimer text: "The information contained herein is meant for educational purposes only. By presenting this information, Mentoring of America (MOA) and its employees do not render legal, accounting or other professional advice. It is your own personal responsibility to seek professional advice for any specific transaction or investment from those licensed to render such advice. If you require specific legal, tax or accounting advice, seek the advice of a qualified professional."
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