Frequently Asked Questions

BidDay is a REAL online auction company, unlike most websites which are simply an offer submission site, NOT a true auction site like BidDay. Additionally, BidDay provides access to a wider selection of inventory than any other single provider because we coordinate with ballroom auction companies to bring you inventory in addition to what’s already on the site from our bulk REO providers. Finally, many other auction websites allow you to bid but not complete the actual transaction. BidDay is a start to finish, bid to close auction system, complete with access to vendors who can make rehabbing your new property a breeze.

The live auction simulcast will appear as an option on the auction screen for any property to which it applies. The simulcast will give you a LIVE video feed of theballroom auction as it happens and will allow you to actively participate in the bidding process in REAL time.

No. While having high speed internet is always recommended for video, BidDay uses some of the largest and fastest servers in the world, and our simulcast system will allow buyers using connections as slow as dial-up to participate.

BidDay receives LIVE daily local feeds that are highly accurate from title companies, data sources, city, and county offices that provide raw, recent, and relevant property data with each property sold on BidDay.

We work closely with two of the largest title companies in the nation to get comparable data which we put into our sophisticated analytics engine that sorts and refines data to accurately compare the property you’re bidding on with the closest matches that were recently sold in the neighborhood.

The Wealth ActionPlanner is a personalized survey that will analyze your current situation, short term goals, long term goals, etc. and return a report detailing a customized investment strategy for you to achieve your goals.

There is no such thing as a wrong answer, just different strategies! You’ll notice that your strategy for creating wealth will change based on changes in your life, therefore you can revise and modify your Wealth ActionPlanner any time and have BidDay’s LIVE daily data update your results.

BidDay receives its title reports and data from the many sources that include title companies, national data services, cities, county clerk’s offices, as well as government agencies.

No. Title reports are free to BidDay Pro and Expert members.

You'll need to upgrade to a Standard or Elite Membership to be able to bid on properties.

The number of properties in the BidDay system will always be fluctuating as we work with some of the largest inventory providers in the country. Discounts can be as much as 60% lower than FMV (Fair Market Value) in some cases. As always, this will vary from property to property and BidDay strives to provide you with accurate, detailed information to aid you in creating wealth.

You will be notified by a lender through the website after completing our prequalification form.

It is possible to buy properties without prequalification, but if you can prequalify we highly recommend it as you position yourself in a more appealing light to various sellers and institutions.

The AssetXray™ is quick summary of a property’s damage and defects. It covers 11 key areas and includes notes and repair estimates for each area. If you do not see an AssetXray™ for a property, or are only seeing limited information on AssetXrays ™, this means you have a Free Membership and need to upgrade to Pro or Expert Membership, or the seller chose not to provide this information. In some cases our inspectors and vendors may not have yet gathered that data or it was not available. Please check back as we strive to have data gathered 7 days a week.

Free membership accounts may have limited functions since BidDay pays a cost to have vendors gather this valuable data. Upgrading to a Pro or Expert Membership will allow you to have full access to these valuable reports.

BidDay has developed highly sophisticated computer animated Avatars with artificial intelligent like abilities that fill the role of a real human auctioneer. These Avatars have unique personalities, accents, mannerisms, accents, and speak a variety of languages (English, Spanish, Chinese, Japanese, Portuguese, and other languages). Select your language and you’ll be able to see and hear them during a LIVE online auction event while bidding against other online bidders from cell phones, laptops, PC’s, iPads, Android phones, and other internet devices.

BidDay’s highly sophisticated and stable auction platform assures 100% uptime while allowing even dial up connections in rural areas to work well. In the event that a buyer’s personal internet service connection to the internet (that BidDay has no control or influence over) is interrupted, the last bid received would be valid and if defined a Maximum Proxy Bid, BidDay will automatically and incrementally submit bids until you are the winner or reach your Maximum Proxy Bid.

All you will need is a web phone with a compatible browser. BidDay’s system is independent in four ways.
1) Device independent (Laptops, PC, Cell Phone’s with web broswers, iPhones, iPads, Android Phones, and other wireless devices)
2) Platform independent (PC, Mac, Linux)
3) Browser independent (Internet Explorer versions, Firefox, Safari, and others)
4) Software independent (there is NOT software to download and install)
…… So basically… you should not have a problem getting, researching, or bidding!

Yes. We designed our interface to be identical as using your PC or Laptop

When you purchase a sharable Full Property Condition Report, you can share these reports with BidDay Friends who have either a Pro or Expert Membership account; Free Membership accounts will not have access to these reports. If the person(s) you wish to share the report with is not yet a friend, simply add them as a friend by sending them a friend request and they will be associated with your account to share these Full Property Condition Reports.

A sharable Full Property Condition Report will allow you to share it with many people (depending on your membership level) that are one of your friends within the website having either a Pro or Expert Membership account.

You may only purchase one sharable Full Property Condition Report “per property” and share it with the stated maximum friends that are within your BidDay account. This will depend on your membership level, as well as if you have been promoted within the (by invitation only) Investor Society ranks.

Regular (Non-Sharable) Reports cannot be downloaded but you’ll have the ability to view them on your computer screen when accessing our site.

Full Property Condition Reports can only be viewed within the BidDay website and cannot be downloaded. If you purchase a sharable version, you can allow another BidDay friend to view the file as long as they are on your friends list (see Adding a friend to my BidDay account) and have a Pro or Expert Membership.

BidDay’s Property Condition Reports are performed by certified professional inspectors whose only job is to inspect properties. They do not perform any repairs, thus ensuring that you will receive an accurate and neutral review.

BidDay’s Full Property Condition Reports are performed by certified home inspectors, just like regular inspection reports, but may include additional information such as repair estimates, recommended appliance replacements, 3 minute video tours, and other valuable data required by Investors as oppose to normal home owners.

BidDay’s Full Property Condition Reports provide much more detail than an AssetXray and can include a 3 minute video tour of the property. A Full Property Condition Report includes between 12 to 40 detailed pages of observed damages, mold, structure issues, foundation complications, and other issues that include full color pictures and evaluations complete by certified home inspectors or qualified vendors. Typical costs for reports by inspectors can range from $220 to $450 each, thus BidDay’s solution is a highly cost effective opportunity that will save you money and time.

The Diamond Form™ a proprietary investment tool that allows you to input specific information about a property you’re thinking about investing in, and see a customized exit strategy that will maximize profit potential.

In less than a minute, it can tell you Monthly Cash Flow, Cap Rate, Gross Monthly Multiplier, Cash On Cash Return (COCR), Equity Buildup, Depreciation, Appreciation, and the most important number, Total Return on Investment (TROI) for any property you want!

All you have to do is type in the current bid price, future re-sale price, down payment loan rate, expected rental rates (or use our recent rental comparables), and basic expenses.

Yes. The Diamond Form™ can aid you in evaluating your investment and then allow you to present your results to other friends and investors so you can receive feedback, share ideas, present them to your accountant or lawyer, and event print them for review by others who may want to invest together with you.

Anytime you click on another user’s profile you can then click "Become User's Friend" where User is the name of the person you wish to be friends with. The other user will then have to confirm that the two of you are friends.

Click on "My Relationships" and then select "Pending". Confirm or deny the requests that show as you see fit.

From the Investor Society site, click on the link for the forums. The Investor Society forums operate like any standard forum or discussion board site, so be sure to look through the forum FAQ there if you are unfamiliar. Once you know how the boards work or if you knew already, make sure you review the rules for posting before actively contributing.

Of course! Messages can be accessed under the “My Account” menu in the Investor Society site.

Yes, but you must be an approved Investor Society Friend able to collaborate and invest in properties together.

First return to the auction side of the BidDay website, then click on “Current Live Auctions” on the right side of your account homepage.

Yes. Your login is secure on our site. Please verify that http://community.bidday.com or http://bidday.com appears in the address bar at the top of your browser window prior to EVERY login attempt. This is the easiest and most foolproof way to be sure you aren’t trying to login to a phishing site instead of the real Investor Society or BidDay site.

Yes, BidDay has a cost effective integration process that will allow you to have your customers’ login to your website and have BidDay’s platform in the background with your company’s look and feel.

BidDay will integrate its advanced sales platform within your website under a new menu button (sometimes labeled “Live Auction”). When a user clicks on this button, a page with your company website header appears with full BidDay functionality and live auction interface available for your users.

BidDay uses the largest servers and most powerful servers in the world that have a tremendous bandwidth which results in a fast-paced user experience without ever affecting your website's speed.

You can decide if you would prefer to show only your inventory to your buyers or allow them to see other sellers' inventory. If they purchase another seller's inventory, then you will be compensated with a referral fee for providing a buyer to a closed sale.

If you choose to have a private labeled website, BidDay offers two levels of customer service for your buyers: 1) A powerful self-service customer interface for your buyers which will dramatically reduce the number of calls and emails to your company, or 2) If your buyers still have questions, your phone number will be listed so that your company or call service may field your customers' questions.

BidDay uses information about every property an investor purchases, bids on, sets up notifications for, or adds to a watch list or wish list to make recommendations tailored to an investor’s indicated interest. Combined with BidDay’s Wealth Action Planner, which helps buyers find properties best suited to their custom investment strategy, your properties are ensured to be viewed by the kind of investors who are actually interested in buying.

BidDay’s advanced tools and smart profiling for buyers will bring the market right to you. We’re not a marketing company because we don’t have to be. We just make sure that buyers are confident in their investment choices, and that you are confident in every investor who buys from your inventory. If you or an agent wants to market your property outside of BidDay, you are still more than welcome to do so, and can do so easily as each property put into the system has its own unique permanent URL.

Buyers can find your properties by searching, seeing a recommendation we provide, or hearing from another user of the site via The Investor Society. The specific information for each property can be accessed on the auction screen, or in email or text (mobile devices) notifications.

Agents can bring their own investors to BidDay and still receive a commission for any subsequent acquisitions their investors make. Agents are provided with easy options for recommending your properties to their investors or promoting them using services like MLS.

BidDay’s auction and sales platform is ranked #1 nationally for stability, flexibility, user friendliness, and overall streamlined enterprise system. Our auction platform has been used in the automotive auction industry since 2001 and has over 100,000 users actively bidding weekly.

Yes, all of the data you have with us is logged and backed up securely. Our redundant backup databases are even geographically isolated. You’ll never have to worry that the vital info you need will be lost.

Buyers will have access to your inventory 24 hours a day, 7 days a week from anywhere. BidDay uses a network of highly reliable servers with large bandwidth and 100% uptime, ensuring that buyers will never have a problem accessing your properties or the auctions to bid on them.

BidDay’s customer service is handled primarily in the form of a powerful community platform which allows users of the site to help each other by providing answers to common questions and interaction previously not seen on any auction platform. This allows us to keep most customer service concerns in house, customized to users’ unique needs, and off your desk.

Most questions can be handled on the BidDay site. The visibility of your company will be up to you, as will the decision whether to play an active role in customer service.

Buyers can search for properties by location (miles from zip code), auction event, type of property, number of bedrooms, number of bathrooms, or price. Buyers are also shown recommendations of properties based on our profiling system and can set up notifications for properties coming into the system which meet their customized parameters.. Additionally, buyers may be alerted of your inventory by agents, through MLS or when interacting with our online investor community.

Technical expertise will be of little to no concern for investors, as BidDay always strives to provide an intuitive user experience. The auction platform itself was built from the ground up with ease of use in mind for ALL parties involved.

The BidDay auction platform allows batch uploads of almost any size, and has a flexible upload system which allows you to easily integrate your database regardless of format. Our technical team can work with you to make sure that uploads go as smoothly as possible.

BidDay is a REAL online auction company, unlike most websites which are simply an offer submission site, NOT a true auction site like BidDay. Additionally, BidDay provides access to a wider selection of inventory than any other single provider because we coordinate with ballroom auction companies to bring you inventory in addition to what’s already on the site from our bulk REO providers. Finally, many other auction websites allow you to bid but not complete the actual transaction. BidDay is a start to finish, bid to close auction system, complete with access to vendors who can make rehabbing your new property a breeze.

The live auction simulcast will appear as an option on the auction screen for any property to which it applies. The simulcast will give you a LIVE video feed of theballroom auction as it happens and will allow you to actively participate in the bidding process in REAL time.

No. While having high speed internet is always recommended for video, BidDay uses some of the largest and fastest servers in the world, and our simulcast system will allow buyers using connections as slow as dial-up to participate.

BidDay receives LIVE daily local feeds that are highly accurate from title companies, data sources, city, and county offices that provide raw, recent, and relevant property data with each property sold on BidDay.

We work closely with two of the largest title companies in the nation to get comparable data which we put into our sophisticated analytics engine that sorts and refines data to accurately compare the property you’re bidding on with the closest matches that were recently sold in the neighborhood.

The Wealth ActionPlanner is a personalized survey that will analyze your current situation, short term goals, long term goals, etc. and return a report detailing a customized investment strategy for you to achieve your goals.

There is no such thing as a wrong answer, just different strategies! You’ll notice that your strategy for creating wealth will change based on changes in your life, therefore you can revise and modify your Wealth ActionPlanner any time and have BidDay’s LIVE daily data update your results.

BidDay receives its title reports and data from the many sources that include title companies, national data services, cities, county clerk’s offices, as well as government agencies.

No. Title reports are free to BidDay Pro and Expert members.

You'll need to upgrade to a Standard or Elite Membership to be able to bid on properties.

The number of properties in the BidDay system will always be fluctuating as we work with some of the largest inventory providers in the country. Discounts can be as much as 60% lower than FMV (Fair Market Value) in some cases. As always, this will vary from property to property and BidDay strives to provide you with accurate, detailed information to aid you in creating wealth.

You will be notified by a lender through the website after completing our prequalification form.

It is possible to buy properties without prequalification, but if you can prequalify we highly recommend it as you position yourself in a more appealing light to various sellers and institutions.

The AssetXray™ is quick summary of a property’s damage and defects. It covers 11 key areas and includes notes and repair estimates for each area. If you do not see an AssetXray™ for a property, or are only seeing limited information on AssetXrays ™, this means you have a Free Membership and need to upgrade to Pro or Expert Membership, or the seller chose not to provide this information. In some cases our inspectors and vendors may not have yet gathered that data or it was not available. Please check back as we strive to have data gathered 7 days a week.

Free membership accounts may have limited functions since BidDay pays a cost to have vendors gather this valuable data. Upgrading to a Pro or Expert Membership will allow you to have full access to these valuable reports.

BidDay has developed highly sophisticated computer animated Avatars with artificial intelligent like abilities that fill the role of a real human auctioneer. These Avatars have unique personalities, accents, mannerisms, accents, and speak a variety of languages (English, Spanish, Chinese, Japanese, Portuguese, and other languages). Select your language and you’ll be able to see and hear them during a LIVE online auction event while bidding against other online bidders from cell phones, laptops, PC’s, iPads, Android phones, and other internet devices.

BidDay’s highly sophisticated and stable auction platform assures 100% uptime while allowing even dial up connections in rural areas to work well. In the event that a buyer’s personal internet service connection to the internet (that BidDay has no control or influence over) is interrupted, the last bid received would be valid and if defined a Maximum Proxy Bid, BidDay will automatically and incrementally submit bids until you are the winner or reach your Maximum Proxy Bid.

All you will need is a web phone with a compatible browser. BidDay’s system is independent in four ways.
1) Device independent (Laptops, PC, Cell Phone’s with web broswers, iPhones, iPads, Android Phones, and other wireless devices)
2) Platform independent (PC, Mac, Linux)
3) Browser independent (Internet Explorer versions, Firefox, Safari, and others)
4) Software independent (there is NOT software to download and install)
…… So basically… you should not have a problem getting, researching, or bidding!

Yes. We designed our interface to be identical as using your PC or Laptop

When you purchase a sharable Full Property Condition Report, you can share these reports with BidDay Friends who have either a Pro or Expert Membership account; Free Membership accounts will not have access to these reports. If the person(s) you wish to share the report with is not yet a friend, simply add them as a friend by sending them a friend request and they will be associated with your account to share these Full Property Condition Reports.

A sharable Full Property Condition Report will allow you to share it with many people (depending on your membership level) that are one of your friends within the website having either a Pro or Expert Membership account.

You may only purchase one sharable Full Property Condition Report “per property” and share it with the stated maximum friends that are within your BidDay account. This will depend on your membership level, as well as if you have been promoted within the (by invitation only) Investor Society ranks.

Regular (Non-Sharable) Reports cannot be downloaded but you’ll have the ability to view them on your computer screen when accessing our site.

Full Property Condition Reports can only be viewed within the BidDay website and cannot be downloaded. If you purchase a sharable version, you can allow another BidDay friend to view the file as long as they are on your friends list (see Adding a friend to my BidDay account) and have a Pro or Expert Membership.

BidDay’s Property Condition Reports are performed by certified professional inspectors whose only job is to inspect properties. They do not perform any repairs, thus ensuring that you will receive an accurate and neutral review.

BidDay’s Full Property Condition Reports are performed by certified home inspectors, just like regular inspection reports, but may include additional information such as repair estimates, recommended appliance replacements, 3 minute video tours, and other valuable data required by Investors as oppose to normal home owners.

BidDay’s Full Property Condition Reports provide much more detail than an AssetXray and can include a 3 minute video tour of the property. A Full Property Condition Report includes between 12 to 40 detailed pages of observed damages, mold, structure issues, foundation complications, and other issues that include full color pictures and evaluations complete by certified home inspectors or qualified vendors. Typical costs for reports by inspectors can range from $220 to $450 each, thus BidDay’s solution is a highly cost effective opportunity that will save you money and time.

The Diamond Form™ a proprietary investment tool that allows you to input specific information about a property you’re thinking about investing in, and see a customized exit strategy that will maximize profit potential.

In less than a minute, it can tell you Monthly Cash Flow, Cap Rate, Gross Monthly Multiplier, Cash On Cash Return (COCR), Equity Buildup, Depreciation, Appreciation, and the most important number, Total Return on Investment (TROI) for any property you want!

All you have to do is type in the current bid price, future re-sale price, down payment loan rate, expected rental rates (or use our recent rental comparables), and basic expenses.

Yes. The Diamond Form™ can aid you in evaluating your investment and then allow you to present your results to other friends and investors so you can receive feedback, share ideas, present them to your accountant or lawyer, and event print them for review by others who may want to invest together with you.

Anytime you click on another user’s profile you can then click "Become User's Friend" where User is the name of the person you wish to be friends with. The other user will then have to confirm that the two of you are friends.

Click on "My Relationships" and then select "Pending". Confirm or deny the requests that show as you see fit.

From the Investor Society site, click on the link for the forums. The Investor Society forums operate like any standard forum or discussion board site, so be sure to look through the forum FAQ there if you are unfamiliar. Once you know how the boards work or if you knew already, make sure you review the rules for posting before actively contributing.

Of course! Messages can be accessed under the “My Account” menu in the Investor Society site.

Yes, but you must be an approved Investor Society Friend able to collaborate and invest in properties together.

First return to the auction side of the BidDay website, then click on “Current Live Auctions” on the right side of your account homepage.

Yes. Your login is secure on our site. Please verify that http://community.bidday.com or http://bidday.com appears in the address bar at the top of your browser window prior to EVERY login attempt. This is the easiest and most foolproof way to be sure you aren’t trying to login to a phishing site instead of the real Investor Society or BidDay site.