This article explains how to accept a sole bidder in the event there is one active buyer
In an Openn Negotiation, you can to sell the property to a sole bidder without completing the Final Bidding Stage date.
This feature is only available in the event you have a maximum of one active bidder.
How to accept a sole bidder
- Navigate to the negotiation
- Select Accept Sole Bidder button on the right of screen
- Select Proceed
- The buyer will then receive an email notification informing them of the Seller's intent to sell the property to them and be directed to the app to confirm the purchase using a two-step confirmation process.
- The property will be marked as sold once the bidder has confirmed the purchase and the agent will be able to generate the final contract.
When proceeding with a sole bidder when the reserve has not been met, the reserve will automatically reduce to match the current bid. In this scenario it is important to have written agreement from the seller regarding the reduction in reserve.