What happens if my buyer has made a bid but later decides they no longer want to make that offer?
FMV Auctions website works on honesty and integrity from all parties. We fully understand that buyers occasionally change their minds. If this happens PRIOR to an offer being accepted, the agent must inform FMV Auctions within 24 hours prior to the End of the Auction so their offer can be removed. Agents must also realize that they are NOT allowed to enter an offer unless the buyer has expressly given them the authority to make an offer on a property. This is no different from the rules for a standard paper contract; if your client has not given you the authority to make an offer, do not enter it on FMV Auctions. If this process is being abused by an agent, their privileges will be revoked.
