BETHESDA, MD - bidEup today announced the launch of their revolutionary new website that provides the world's first online, legally binding real estate marketplace. bidEup's propriety patent-pending system provides an online sale platform and is the first secured website that authenticates users, creates electronic signatures and allows real estate contracts to be executed digitally. This combination provides an efficient marketplace where real estate professionals representing buyers and sellers can conduct transactions online with the advantages and legal protections typical to traditional offline transactions.
Sellers, who include individuals and financial institutions represented by licensed real estate agents, and builders can post properties and perform an online sale or auction anywhere in the United States. Any person who can provide evidence of sufficient cash or financing from a reputable lender can purchase property through bidEup. SunTrust Mortgage, Inc. and bidEup have forged an initial alliance, in which SunTrust will be the first in a series of preferred providers of mortgage financing.
Patrick Casey, Senior Vice President of SunTrust Mortgage, says "We view bidEup as a Realtor(R)-driven Multiple Listings Service on steroids that will be the next gateway for sellers and buyers to get the most for their money out of a real estate transaction."
"Sellers through bidEup also have the extra assurance from the point they register with bidEup that the financing is in place to make the transaction a virtual certainty," Casey continued. "SunTrust Mortgage is honored to have been chosen by bidEup to be the lead provider of mortgage financing for their customers."
The bidEup methodology and business model was developed by David McNairy, CEO of bidEup, who is also a real estate attorney. McNairy created bidEup to provide a tool for real estate professionals to stimulate the currently depressed housing market; however, the model will perform under any market condition. bidEup's system takes the pressure off of real estate sellers by providing them instant access to domestic and international pools of credit-worthy and cash buyers, well beyond current mainstream real estate marketing tactics. The system takes advantage of the Internet to streamline real estate processes and create a more efficient marketplace. For the first time, the world has convenient access to the U.S. real estate market providing an environment where both buyers and sellers benefit.
Dr. Richard Schroth, noted technology strategist and Chairman of the bidEup Advisory Board says, "bidEup is the next generation of electronic commerce for Web 2.0. There is nothing that comes close to it in the online marketplace. In utilizing advanced secure digital signature capabilities and electronic forms processing, bidEup also represents the first significant realty tool to organize and streamline the paperwork process of realtors, potentially eliminating the thousands of miles of travel experienced by Realtors(R) in moving documents in a timely manner between the buyers and sellers."
Schroth goes on to say, "bidEup will also offer the first legally binding real estate market to the international marketplace, allowing the U.S. housing market to extend itself at a critical time to the global marketplace. In many ways, this will--for the first time--open up opportunities for individual international buyers to consider purchases in the United States with tools to handle the transaction directly on line. You might think of this as the American Dream 2.0!"
McNairy said, "Many people believe that online real estate transactions, auctions and sales, are legally enforceable, but bidEup is the first system that allows people to ratify a binding real estate contract online. bidEup will provide tools for buyers to conduct due diligence
Source: CentreDaily.com