System and method for providing bidding on real estate among previously identified parties.
First Claim
1. A method for providing a real estate bidding system where each potential buyer is specifically invited by the seller to participate in bidding, comprising the steps of:
- posting a real estate property for bidding;
inviting one or more potential bidders known or thought by the seller to be interested in the property to participate in the bidding;
provide one or more methods for only these invited bidders to communicate their bids;
accept bids from one or more bidders during a defined bidding period; and
to determine from amongst the received bids a priority ordering that identifies the winning bidder.
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Accused Products
Abstract
A system and method for providing bidding on real estate among previously identified parties. The system includes one or more servers storing and providing information about the real estate to be bid on; one or more means to invite pre-identified potential bidders to bid on each piece of real estate; one or more means for only those invited bidders to connect to the system and submit bids; and a series of rules to determine the preferred bid from amongst those submitted. The method operates by providing a way for properties to be submitted to be bid upon, specifically inviting known bidders to bid on each piece of real estate, allowing only those bidders to communicate their bids, accepting bids during the defined bidding period and determining a preferential ordering of the received bids.
33 Citations
8 Claims
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1. A method for providing a real estate bidding system where each potential buyer is specifically invited by the seller to participate in bidding, comprising the steps of:
- posting a real estate property for bidding;
inviting one or more potential bidders known or thought by the seller to be interested in the property to participate in the bidding;
provide one or more methods for only these invited bidders to communicate their bids;
accept bids from one or more bidders during a defined bidding period; and
to determine from amongst the received bids a priority ordering that identifies the winning bidder. - View Dependent Claims (2, 3, 4)
- posting a real estate property for bidding;
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5. A system for providing a real estate bidding system where each potential buyer is specifically invited by the seller to participate in bidding, comprising:
- means for posting a real estate property for bidding;
means for inviting one or more potential bidders known or thought by the seller to be interested in the property to participate in the bidding;
means for providing one or more methods for only these invited bidders to connect to the bidding system;
means for accepting bids from one or more bidders during a defined bidding period; and
means for determining from amongst the received bids a priority ordering that identifies the winning bidder. - View Dependent Claims (6, 7, 8)
- means for posting a real estate property for bidding;
Specification