BUYER PROCESS

Buyer Process2023-01-25T16:17:00+00:00
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1. Create Membership Account/Log In
  • There is no charge to create a Membership Account/Log In
  • A Payment Method with a valid credit card on file is required to Submit Listings or to Bid/Make Offers on Listings
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2. Make Bids/Offers on Listings
  • Reserve Auction (Listing will only sell to the highest Bidder if Highest Bid amount meets or exceeds set Reserve Price)
  • No-Reserve Auction (Listing will sell to highest Bidder regardless of Bid amount)
  • Classifieds (Listing will sell to the first Buyer that pays the Buy Now Price or Seller may accept Buyer’s Make Offer Price)
  • Hybrid Auction (Auction + Classifieds) (Listing will sell if Highest Bid amount meets or exceeds set Reserve Price or to the first Buyer that pays the Buy Now Price or Seller may accept Buyer’s Make Offer Price)
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3. Communicate With Seller
  • Buyer may submit questions to Seller through the EXR Platform
  • Seller has 72 Hours to respond to Buyer questions
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4. Win the Listing
  • Winning Buyer and Seller will be notified by email and/or text in order to complete the transaction and if Escrow Services are being utilized, to start the Escrow Process
  • To protect Buyer and Seller, prior to Consummation of Sale, all Winning Bids and/or Accepted Offers are subject to Buyer (at Buyer’s Discretion) completing a Pre-Purchase Inspection (PPI)
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FAQs
There is no charge to create a Membership Account/Log In. A Payment Method with a valid credit card on file is required to Submit Listings as a Seller or to Bid/Make Offers on Listings as a Buyer. As part of our commitment to data privacy, we do not keep your payment details in our internal database.
EXR utilizes two-factor authentication (2FA) to prevent your account from being accessed by unauthorized users. Please opt into the 2FA option when prompted during sign-up. In addition, EXR uses Stripe’s globally renowned payment processing system to ensure secure transactions.

To protect Buyer and Seller, prior to Consummation of Sale, all Winning Bids and/or Accepted Offers are subject to Buyer (at Buyer’s Discretion) completing a Pre-Purchase Inspection (PPI) within Seven (7) Business Days (or other agreed upon time-frame, as agreed between Buyer, Seller and EXR) of notification to Buyer of Winning Buyer status. Please visit our Terms of Service, Terms & Conditions, Buyer Agreement and Seller Agreement pages for more information and details.

EXR offers a full suite of Facilitation Services including Pre-Purchase Inspection Programs that allow Buyers to ascertain the true condition of the Listing and Escrow Services that protect both the Buyer’s & Seller’s financial interests, with funds held in a Secure Escrow Account until all the i’s are dotted and t’s are crossed.

Please visit our Facilitation Services page for more information and details.
EXR offers Three Marketplace Listing Mode Options:
  • Auctions
    • Reserve Auction (Listing will only sell if Highest Bid amount meets or exceeds set Reserve Price)
    • No-Reserve Auction (Listing will sell to highest Bidder regardless of Bid amount)
  • Classifieds
    • (Listing will sell to the first Buyer that pays the Buy Now Price or Seller may accept Buyer’s Make Offer Price)
  • Hybrid (Auctions + Classifieds)
    • (Listing will sell if Highest Bid amount meets or exceeds set Reserve Price or to the first Buyer that pays the Buy Now Price or Seller may accept Buyer’s Make Offer Price)
Please visit our Marketplace Options page for more information and details.

Registered Buyers can Bid or Make Offers on any Listing by going to the Listing page and placing a Bid or Offer on the Listing as appropriate for the Marketplace Mode the Listing is in.

Please visit our Make Bids/Offers on Listings page for more information and details.

If the PPI exposes major issues with the Listing and Buyer and Seller cannot agree on a remedy to those issues, and/or Buyer chooses not to complete the transaction because of the issues:
  • EXR will return to Buyer an amount equal to any Buyers Premium (as defined herein) paid by Buyer minus any fees or administrative charges incurred by EXR to produce the refund
Please visit our Terms of Service, Terms & Conditions, Buyer Agreement and Seller Agreement pages for more information and details.
Winning Buyer and Seller will be notified by email and/or text in order to complete the transaction and if Escrow Services are being utilized, to start the Escrow Process.
  • To protect Buyer and Seller, prior to Consummation of Sale, all Winning Bids and/or Accepted Offers are subject to Buyer (at Buyer’s Discretion) completing a Pre-Purchase Inspection (PPI) within Seven (7) Business Days (or other agreed upon time-frame, as agreed between Buyer, Seller and EXR) of notification to Buyer of Winning Buyer status, please visit our Terms of Service, Terms & Conditions, Buyer Agreement and Seller Agreement pages for more information and details
  • Winning Buyer is responsible to pay Seller directly or fund the Listing purchase (if Escrow Services are utilized) in full within Seven (7) Calendar Days (or other agreed upon time-frame, as agreed between Buyer, Seller and EXR) of notification of Winning Buyer status
  • Seller is responsible to deliver Listing to Buyer upon receipt of Payment In Full within Seventy Two (72) hours (or other agreed upon time-frame, as agreed between Buyer, Seller and EXR) for the Listing
  • If Escrow Services are utilized: (Protecting Buyer’s & Seller’s financial interests, with funds held in a Secure Escrow Account until all the i’s are dotted and t’s are crossed)
    • Buyer and Seller will be notified to start the Escrow Process upon successful sale of the Listing
    • Please see the Escrow Services page for full details regarding Escrow Services
Please visit our Win The Listing page for more information and details.

Yes, Buyers and Sellers can communicate regarding the Listing through our Platform. Sellers are given 72 hours to respond to any Buyer questions that may come through.

To ensure a fair transaction and to protect the interests of both parties, Buyers and Sellers should only communicate through the EXR platform. All correspondence is managed and monitored by our team.

Please visit our Communicate With Seller page for more information and details.
Yes. In exchange for utilizing our platform, each successful sales transaction will be charged a Sales Success Fee — a small percentage of the final sales amount. For example, if a listing is sold for $50,000 and the Listing was assigned a 5% Sales Success Fee, the successful transaction will result in a $2,500 Sales Success Fee being charged. During listing creation, the seller chooses who pays the sales success fee:
  • Buyers Premium – Buyer pays the entire Sales Success Fee in the form of a Buyers Premium (This is the default setting)
    • Seller Pays Nothing
  • Split Fees – Buyer and Seller Split the Sales Success Fee
    • Buyer pays 1/2 of Total Sales Success Fee in the form of a Buyers Premium
    • Seller pays 1/2 of Total Sales Success Fee in the form of a Sellers Premium
  • Sellers Premium – Seller pays the entire Sales Success Fee in the form of a Sellers Premium
    • Buyer Pays Nothing
Please visit our Sales Success Fee Options page for more information and details on the Sales Success Fee.

EXR does not offer any form of a warranty or insurance on Listings sold on the Platform. ALL Listings are Sold “AS IS, WHERE IS”. If a Seller offers a warranty or insurance on a Listing, any rights or benefits are offered exclusively by that Seller without the involvement of EXR.

Please visit our Terms of Service, Terms & Conditions, Buyer Agreement and Seller Agreement pages for more information and details.
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