Bid4Assets is determined to eliminate internet fraud on our site and to ensure that bidders who win an auction complete their transaction. As part of this program, Bid4Assets will require a bidder to provide a valid credit card prior to placing a bid. Bid4Assets will confirm that the card is valid but will not charge the card unless the bidder wins an auction but does not complete the transaction. The process is free, quick and secure, and if successful, the bid is placed immediately.
The bidder should verify their bid amount and check the boxes confirming that they've completed their due diligence, understand the terms, and agree to abide by the non-performing bidder policy. If a bidder has not entered their credit card information into the system, they'll now be able to do so. If a bidder has already entered at least one credit card into the system, they can select which card they'd like to use. Finally, the bidder can enter their password and click on the "Bid Now" button to complete the bid.
If a winning bidder does not complete a transaction after placing a winning bid, their card will be charged $250 for a real estate auction and $100 for all other auctions.
Please note: Once you have clicked on the Bid Now button, your bid is a binding contract and it cannot be revoked. If your credit card is declined, you will be prompted to check your information and your bid will not be processed. Therefore, first time bidders may want to enter their bid with ample time remaining before an auction closes.