Seller Frequently Asked Questions
These questions address how selling on MrBids works, what control sellers retain, and what to expect during the auction process.
Is MrBids a real estate broker?
No. MrBids is a technology platform that facilitates seller-direct auctions. MrBids does not act as a real estate broker, agent, or escrow holder.
Do I have to accept the highest bid?
No. Sellers retain full control over bid acceptance. You may accept, counter, or decline any bid in accordance with the auction terms.
How is reserve pricing handled?
Sellers define reserve pricing prior to auction launch. Reserve pricing is not visible to buyers unless disclosed by the seller.
Are buyers verified?
Yes. Buyers are reviewed prior to participation. Access may be limited to verified or approved buyers during the private marketplace phase.
How long do auctions run?
Auction duration is set prior to launch and typically runs for a defined period (e.g., 7 days). Timing is agreed upon before listing approval.
What happens after the auction ends?
After the auction concludes, sellers review bids and decide whether to accept, counter, or decline offers. Accepted bids proceed toward escrow-based closing.
How are funds handled?
Funds flow through licensed third-party escrow providers. MrBids does not hold or transmit funds.
Is my listing guaranteed to be accepted?
No. Listings are reviewed prior to approval to ensure quality, eligibility, and alignment with platform standards.
What types of properties are eligible?
Eligible properties vary based on market conditions and buyer demand. Residential, multi-family, commercial, and land assets may be considered.
Additional questions? Contact support@mrbids.com.