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FAQ

Registration

How do I register with Sellio™?
Click "Register" anywhere on the site or click the MY ACCOUNT tab in the navigation.  Fill out your information and create your user account to register.
After I register, how do I change my user information?
To change your profile information, sign in and click MY ACCOUNT, and then EDIT PROFILE.  Update the fields you want to change and click 'Save' at the bottom of the page.
How do you protect the information I provide?
Your information is Secured with Secure Socket Layer (SSL) Protection. Please see our Privacy Policy and Terms-of-Service for more information.
Why do you ask for my phone number and address?
We collect your phone number and address for multiple purposes such as supporting your watchlist notifications throughout your buying and selling process.  Purchasing properties is a significant event for most, so we fully verify users via email and SMS prior to participation.  We also may contact you from time to time via phone or SMS to provide further information about our products and services, or to update you about your bidding and selling activities. See our Privacy-Policy for more information.

Sellers

What are the requirements to sell on Sellio.co™
Sellers must register and "Create a Listing" on any page and provide details of the property and have listing confirmed/approved.  After approval, they will work with Sellio’s platform to set up the listing.  Basic approval requirements are as follows.  Seller must must have ownership or legal right to sell the property. If you are married, you and your spouse must consent to sell.  Seller must have reasonable expectations: If you are unrealistic in your pricing expectations, your listing will not qualify to enter the marketplace. Your dedicated Support Specialist can help determine the current market value, based on comparable sales, location and market conditions. Sellers must be serious and ready to sell: In order to protect the integrity of our marketplace and ensure our buyers are served, you must ready, willing and able to sell your property.
How does the Reverse-Style Auction work?
Seller creates a listing and invites buyers to participate.  Once a listing is set and approved, the Current Price drops incrementally until a buyer secures it at the displayed Current Price in real-time, with an Offer Deposit. Buyers can decrease their offer on the listing and auto-purchase the property once the Current Price drops to their offer price - although it may be purchased by another buyer at a higher price first. Whichever buyer confirms the highest price, during the Listing Period, wins first rights to purchase the property (at the sole discretion of the seller) so you can create urgency and achieve the highest and best sale price from your most qualified buyer. 
What are the best properties suited for Sellio?
Sellio™ is the ultimate tool best utilized for as-is (seller doesn't want to make any updates or repairs) investment deals in high demand and with a multiple buyer scenario.   Leverage Sellio™ to ensure you maximize the value and profit. Sellio™ can be utilized for the sale of essentially any property, however are best suited for motivated sellers and/or distressed properties interested in selling quickly to a qualified buyer.  
What is the Listing Period
The Listing Period is the time period you select in which a Buyer can do their inspection, Confirm their offer price and secure a listing on Sellio™. Generally Listing Periods can range from 24 hours to 45 days depending on the unique circumstance of the property and at the sole discretion of the Seller. The Seller will work with Sellio™ Dedicated Support to determine the best time frame for the listing based on the information provided. It is important that you inform interested buyers to perform their inspections and determine their offer price within the Listing Period so they don't miss out on purchasing the property.
Can I put all my properties on Sellio™?
Yes.  Just remember that in order to protect the integrity of the listings, all listings must qualify based on the Listing Guidelines.
How do I set up a listing for my property?
Register and Click "Create a Listing" on any page of the site and Sellio™ will walk you through step-by-step.  You will have a dedicated Support Specialist that will help you  from start to finish.  You may select the seller options that best fits your ownership and interests.  For more information visit the Sellers page in the Menu.
Am I locked in to sell once I submit my property?
You control the listing and can cancel for any reason at any time.  If you do want to cancel, please email support@sellio.co or notify your Support Specialist. 
What is a Reserve (or Minimum) Price?
A reserve price is the minimum price the seller is willing to accept for the property and generally where the listing period ends. The Reserve Price is set by the seller and is not shown to buyers until the Listing is Complete.
How is the Reserve Price determined ?   
​Your minimum "Reserve Price" is set solely at the seller's discretion, but must qualify based on Sellio Listing Guidelines.  Your Support Specialist can recommend what is working best at any particular time, so you can make an informed decision, but the seller is in control of the Reserve Price and all of the listing information.
Can I sell to a buyer outside of Sellio™?
To protect the pricing consistency and integrity of our sellers' listings, it's important that all offers go through the Sellio™ Listing.  If this is not possible for any reason, please inform Sellio™ immediately and we'll ensure all offers are entered and considered.   

By entertaining offers outside of the system, you can compromise the integrity of your listing, the Sellio™ platform, and cause complications to close the property. Also Sellio™ reserves the right to cancel the listing and suspend services.  
What happens to the property if the Listing Period ends without a buyer to secure the property?
If a Listing ends without a buyer, the listing is removed. The seller reserves the right to accept a lower offer if applicable, and negotiate with a buyer that made an offer via Sellio™ to propose new terms.  Seller can also re-list the property 3 times for FREE and discounted $247 for each re-list after 3. 
How does the contracts and closings work once the buyer is secured on a Sellio™ listing?
Once your buyer is secured, we connect you with your buyer and you handle contract to closing as you would in any other transaction. Sellio™ will be responsible for making the connection to your winning buyer but does not provide any services, contracts, advice or perform brokerage activities or closings in any capacity.  
How do I accept an offer?
After the Listing Period, go through our Guided Closing process to accept your offer and approve your buyer.
What if 2 or more buyers place the same offer?
The offer that is placed first achieves first rights to become the winning buyer, so it is based on priority order. This is why it is important for interested buyers to inspect the property and confirm their offer price as quickly as possible within the Listing Period.
How do I know the "Selected Winner" is really going to buy my property?
Sellio™ does not guarantee nor legally enforce buyers to close, but we do require an Offer Deposit (normally $1,000) to participate so they have 'skin in the game'. If buyers do not follow through to close, their Offer Deposit becomes a non-refundable charge, incentivizing the buyer close. If a Buyer chooses to lose the Offer Deposit and walk away, Sellio™ retains this deposit and splits it 50/50 with the seller. You may choose another buyer or re-list the property.
Can I Negotiate the Sale Price with the Winning Buyer after the Listing Period ends?
This is not recommended to protect the integrity of your sale and keep your buyer engaged in closing. All Due Diligence, inspections, etc should be completed during the Listing Period to minimize negotiating after the Listing Period ends. However, Seller has the option to negotiate with the buyer after the listing has ended, should something unexpected arise. Sellio™ service fees remain the same regardless of the change in sale price.  
When do we close on the property? (When do I get paid?)
Closing will be based on variables (buyers, sellers, agreement, closing attorney, financing, etc). therefore the timeframe to closing terms are on the property listing. Closings are generally set 2 weeks to 30 days from listing.  This can be modified based on you and your buyer's needs.  Sellio™ does not dictate closing timeframes or terms.
Does Sellio™ or buyers inspect my home before I sell?
Sellio does not inspect your property, however an interested buyer may be interested in seeing the home prior to the end of the Listing Period.  You will set your property access information so we can properly coordinate a showing time with you.  This will vary based on the listing, seller, and buyer preference.
I have a listing agent, can I still sell my property on Sellio™?
Yes!  We love working with agents. Inform your agent you'd like to sell on Sellio™, you can list your property, and your agent will still earn their commission based on your listing agreement.
What are the different types of Sellio™ listings?
Sellio offers different levels of service and varies depending on the seller and when the listing is being created.  Generally Sellers are the home owners, the representing agent of the home owner or an investor with equitable interest in the property.

Buyers

To learn how to buy on Sellio™, view the 2 minute Buyer Video

How can I buy a home on Sellio™
Simply sign up, find the property you want to buy, register, place your Offer Deposit, and set your Confirm Price.  If you are the highest (or preferred) offer, the owner will choose you as the Winning Buyer, and you will start the process to close.  
Who are the buyers most suited to use Sellio™
​Buyers who have cash to close quickly, are active investors and buy properties in as-is condition.  
What types of properties are available for sale on Sellio.co?
Sellio™ is a listing service for Sellers and there is a range of properties listed.  This could be studios; single-family homes; one- to four-unit, multi-family residences; condominiums; townhomes; mixed-use properties; multi-family properties, mobile homes and land.  This could also be from a private seller, agent, investor or bank.  Most properties are owned by sellers are motivated and ready for a expedited sale process.
Do I need to register make an offer on a property?
Yes, you need to register to the website, register for the listing and place an Offer Deposit to make an offer on a property.
How can I receive notifications and alerts on Listings I'm participating in?
Set your SMS and Email alerts under Preferences in My Account.  Simply choose the alerts you want to receive, through each channel, and Sellio™ will make sure to alert you based on your preferences.
What are the Terms of Buying Homes on Sellio™?
Please see the basic overview of terms, and what you should know on the Buyer Page'.  You can also view the terms of service page for more detailed information.
What are the Requirements to Bid on a Home?
You must be a registered user of the Sellio.co website, enter a property auction by registering and placing an Offer Deposit (pre-authorization hold).   You also must be able to show proof of funds to ultimately secure the rights to win the property.
 What are the Sellio™ Buyer Guidelines?
Buyer to Complete Due Diligence Prior to purchasing on Sellio™
​​Buyer Purchasing As-Is | Sellio™ Buyers agree to purchase the property in as-is condition and based on the terms on the listing. Buyer assumes all liability and responsibility for purchasing on Sellio™
Offer Deposit when you are ready to secure a property, we will pre-authorize Offer Deposit (hold, not charge) on a Credit Card. This is released when the listing is complete, unless you do not perform steps to closing, and in this case becomes non-refundable. (unless seller cannot transfer clean title)
Service Fee generally ranges around .05%- 25 (half of a percent) and covers the cost of providing the technology and marketplace platform to participants. This fee is paid by the buyer, only after a successful Sellio™ listing event and closing. The amount will be included added into the 'Total Amount' when you Confirm Price to buy the property.
Win Deals Automatically As a buyer you can use the (-) minus sign to your desired buy price and win the rights to purchase the deal automatically, without taking any additional steps. Simply reduce the bid price using the (-) minus sign and once it hits, you win! (based on priority order)
ID & P​roof of Funds Required | Upload documentation in your account after registration and it will be verified by Sellio™. All registered bidders must have cash available and be able to close the property, in as-is condition, on the sellers time-frame and terms.
​​​​Buyer has 48 Business Hours to execute signed PSA and make the Earnest Money Deposit with selected Escrow or deal may be forfeited.
​​Title and Closing Attorney Connect with one of recommended Escrow, Title and Closing Attorneys, or bring your own.

Please visit Sellio.co/buy to see more information
How does Due Diligence work?
Buyer should to Complete Due Diligence During the Listing Period in Order to Place Offer, or you may miss out on the Listing.  It is each Participant’s responsibility to conduct its own due diligence before the Listing Period ends and investigate all matters relating to each Property that Participant is interested in purchasing, including, without limitation, legal matters, physical condition and attributes, environmental matters, economic matters, encumbrances, and all other aspects. All offers should be based solely on Participant’s independent due diligence and any information contained in the Purchase Documents.  Sellio™ does not guarantee any information on the platform.
How and when do I schedule an inspection?
Each seller's needs are unique.  To access the property click "Inquire" below the property pricing box and we'll help coordinate based on the listing and sellers preference.
Offer Deposits and Funds Verification
Offer deposits, generally in the amount of $1,000 - $3,000.00, are required to make an offer on a listing. This is not a charge, but a pre-authorization and hold on the Buyer’s credit card to ensure ability to pay and serve as collateral. After registering and making the Offer Deposit, the Buyer will be required to submit Proof of funds (letter of credit, bank letter, other proof of funds deemed acceptable in the sole discretion of Sellio™) and a government issued photo ID for proof of identity. 
Why is there an Offer Deposit?
The Offer Deposit protects the integrity of the Sellio™ Auction and helps ensure all buyers are serious, qualified and have material interest in purchasing the subject property.
Is the Offer Deposit refundable?
The Bid Deposit will not become a charge unless you fail to fulfill certain obligations, such as depositing Earnest Money and Purchase and Sale Agreement with escrow.  If you are not the selected bidder, the hold will be released immediately and available within 2-7 business days after the Listing Period has ended. 
What if I am the "Selected Winner" and don't make the earnest money deposit?
If you are the selected bidder and you fail to deliver your earnest money deposit within the required time frame, the Offer Deposit hold will be converted into a non-refundable charge on your credit card in the amount of the bid deposit.
Can I withdraw the Offer Deposit hold anytime during the listing cycle?
No. Once the bid deposit hold is placed, the amount will be held through the end of the auction cycle, even if you do not place any bids on that property in the auction cycle. Please be sure that you want to place a bid on a property before you complete the bid deposit process.
There's already a Offer Deposit hold on my credit card for a property. If I bid on another property, is a new Offer deposit required?
Yes, a Offer Deposit hold is required once for every listing in order to secure rights to buy the property.
How long is the Offer Deposit hold?
The Offer Deposit will remain until the Listing has ended.  If you are the Winner it will be released once Earnest Money and Purchase and Sale Agreement are deposited into Escrow.  If you are not the winner it will be released immediately and show up in your account in 2-7 days.
What is the Service Fee?
​The Service Fee is a flat fee that generally ranges from .05-2% of the listing, is unique based on the listing, and covers the cost of providing the technology and marketplace platform to participants. This fee is paid by the buyer, only after a successful Sellio™ listing event and closing. The amount will be included added into the 'Total Amount' when you set your Confirm Price to buy the property.

Earnest Money Deposit
This amount will be specified on the Sellio™ listing and PSA and held with the chosen escrow/title/attorney. The minimum required earnest money deposit is calculated by the seller and is outside the control or discretion of Sellio™.

The Selected Winner to pay a Earnest Money Deposit to the escrow/closing agent, generally chosen by the Buyer unless otherwise specified.  Buyer must Deposit Earnest Money into escrow no later than 48 business hours after the seller approves the Selected Winner. If the Earnest Money Deposit is the wrong amount or not timely received, Buyer may forfeit the Offer Deposit, the seller may select another buyer and buyer can potentially lose privileges of buying on Sellio™.   
What if I want to bid at a Lower price.?
There are 2 options

1)  If you want to "Auto-Buy" at a desired lower price, after you have placed your Offer Deposit, use the (-) minus sign on the listing to decrease and Confirm Price.  Once the Current Price on the listing matches your Confirmed Price, you win automatically.   You can change your Confirm Price at any time before the Current Price drops.  

2). If you do not want to buy automatically, wait until the price drops to your desired price and Confirm Price at that time. 
What is Auto-Buy
Bidders interested in a specific property can use the Auto Buy feature to select your desired price and win automatically when the Listing's Current Price matches your Confirm Price.
What happens if someone places the same Confirmed Price as me?
The buyer who places a Bid Deposit and Confirms the Price on the listing FIRST will be rewarded the deal.  It pays to be first on Sellio!
Does the seller have to approve the Winning Offer?
Sellers can accept or reject any offer and have the legal right to approve or reject bids, at their sole discretion and for any reason.
What is required for Proof of Funds?
Generally, in cash transactions, proof of funds is can be a letter from a financial institution controlled by the buyer that the buyer's account has sufficient funds to complete the transaction. In transactions involving financing, proof of funds is by providing a pre-approval letter from the buyer's mortgage company or bank that is providing the financing.

To upload Proof of Funds, you can simply upload the documents to "My Account" under the "File Uploads" section after you place your Bid Deposit or become the Selected Winner for approval. Simply click and drag your docs, pictures or PDFs to the system and we'll keep them on record. There is a time limit to show Proof of Funds, so the docs must be uploaded before time runs out.  

Approval is based on the sole discretion of Sellio™
Why do I need proof of funds?
This is the primary function to protect the integrity of the listings, the Sellio™ marketplace and ensure buyers are qualified to make offers to sellers.  
Do I need a real estate agent to make an offer?
No, you can place a bid or submit an offer on Sellio™ with or without an agent. If you have an agent, simply let us know and we'll provide a trusted Agent Partner from our network.
How does Buyer Agent compensation work? 
If applicable, the buyer agent commission will be displayed on the listing page -  buyer agent commission amounts are at the sole discretion of the seller.  Buyer's Agents may also ask their Buyer for compensation if the seller is not offering a Buyer Agent commission.
Seller's Rights and Obligations
Sellers who market their properties on Sellio are not making an offer to other Participants to contract, they are inviting Participants to make an offer to contract with them. 

Accordingly, Sellers can withdraw the listing from the marketplace at any time. Making an offer on a listing demonstrates your intent to purchase the listed item or property and will constitute your acceptance of the Sellers invitation to make an offer to enter into a contract with the Seller. As a buyer, you are obligated to complete the transaction with the Seller if you submit the Winning Offer, or risk losing your deposit, or potentially future privileges of the Sellio™ platform.
Can I submit my offer subject to a contingency?
Sellio™ properties are sold "as-is," so there are no contingencies available. 
I am having trouble submitting a bid, who do I contact?
Please contact our Customer Support team via email at support@sellio.co.
Can I finance the purchase of the property on this site?
​Financed offers will be considered, however it is your sole discretion to receive approval on your financing.  If you cannot close on the property based on the terms of use, you can forfeit your Bid Deposit and your account may potentially be suspended or disabled.
Is there anything else I should do before I make an offer or bid on a property?
Do your Due Diligence prior to Placing an Offer Deposit or Confirming your price.  Unless otherwise stated on the listing Sellio™ is a marketplace for Cash real estate deals, so it is expected that once you Confirm you are ready to purchase and can close in a timely manner.
What is a certified or verified listing?
A Certified of Verified listing is a listing that Sellio™ does for seller's to help market or provide service to the listing.  Any references to a user or listing being Certified or Verified (or similar language) indicate only that the user or listing has completed a relevant verification or identification process and nothing else. 

Is Sellio™ an auctioneer or broker?
No, Sellio.co™ is a platform and online marketplace connecting buyers and sellers and does not provide representation, negotiate, control information or legal advice regarding the transaction process.


Agent Acknowledgements and Agreements

Licensed Real Estate Agents and Brokers acting in their professional capacity on behalf of a client, are permitted and encouraged to use the Sellio Platform, subject to the conditions below.  Any Licensed Real Estate Agent who markets a property on Sellio or the Affiliated Websites and Applications on behalf of a Seller hereby:


How much does it cost to list a property with my client?
Pricing varies and you can find the specified listing fees on the Sellers Page.  There are also opportunities for Agent Partners to receive discount or custom pricing offers by becoming a Agent Partner.  Sellio™ never interferes with your commission.
Do I still get my commission if I sell a property through Sellio™?
Yes.  Sellio™ is considered a marketing tool you use to manage offers and will never interfere with your commission.
  • Acknowledges that marketing the property on Sellio™ or the Affiliated Websites and Applications does not ensure or guarantee that the property will receive offers, receive bids, or be sold;
  • Certified of Verified Listing is a listing that Sellio™ does for seller's to help market or additionally service the listing. Any references to a user or listing being Certified or Verified (or similar language) indicate only that the user or listing has completed a relevant verification or identification process and nothing else. 
  • R​epresents and warrants to Sellio™ that the marketing is made on behalf of, and with permission from, the Seller of such property;

  • Agrees to enter the correct Listing Price or Reserve Price under proper authority of the Seller;

  • Agrees to enter a proper description of the property and to ensure all other information regarding the property is correct during the entire time the property is marketed on Sellio™ or the Affiliated Websites and Applications;

  • Agrees specify in the appropriate MLS listing(s) that property offers should be made and entered through the Sellio platform;

  • Agrees to enter or have entered on Sellio or the Affiliated Websites and Applications any offer such Licensed Real Estate Agent or the Seller of such property receives to purchase such property outside of Sellio or the Affiliated Websites and Applications; and

  • Agrees to indicate on Sellio or the Affiliated Websites and Applications within a reasonable timeframe whether the Seller of the property has accepted a Selected Bid for the property.
Sellio™ is a marketplace and technology platform used by sellers and licensed real estate agents, to market real estate properties and manage bids for the sale of those properties. Properties are available to all persons, regardless of race, color, religion, sex, handicap, familial status, or national origin.

Common Terms

  • Listing or Property Event conducted by Sellio on behalf of a seller of real property or secured note(s). Sellio™ does not represent any party to the transaction, but helps facilitate the connection between sellers and buyers.
  • L​isting Period The time in which a listing is active and can be secured by a buyer.
  • ​Participant each prospective seller and/or buyer who participates in any Sellio™ listing is a “Participant”.
  • ​Current Price the Current Asking Price that the sellers is selling the property for.  Buyers can confirm the "Current Price" at any time, and win automatically.
  • Confirm Price (or "Offer"): Buyer's selects their desired purchase price amount and set the "Confirm Price". Buyers win the rights once the buyers "Confirm Price" meets the "Current Price" on the listing.
  • Offer Deposit: When buyers are ready to make an offer and purchase, Sellio™ authorizes a credit card hold that is released at conclusion of the listing, unless buyers do not take the necessary actions to perform under Sellio™ terms of service.
  • ​Selected Winner:  The Registered Buyer that Places a Bid Deposit, Confirms the Price and is selected by the seller to buy the property. 
  • ​Service Fee: Flat fee (Generally $500) covering the cost of providing the technology and marketplace platform to participants. This fee is paid by the buyer, only after a successful Sellio™ listing event and closing. The amount will be included added into the 'Total Amount' when you set your Confirm Price to buy the property.
  • Earnest Money Deposit (EMD):  Amount of consideration buyer must place into escrow to secure the rights to the listing or property.
  • Purchase and Sale Agreement (PSA):  Agreement to buy and sell property between buyer and seller after a successful connection is made.
  • Terms: (“Terms”) apply to each listing, buyer/seller connection and/or other marketing or transaction event
Need Support?  Email support@sellio.co
Sellio™ is a marketplace and technology platform used by sellers and licensed real estate agents, to market real estate properties and manage offers for the sale of those properties. Properties are available to all persons, regardless of race, color, religion, sex, handicap, familial status, or national origin.
DISCLAIMER: SELLIO™ DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES, ENDORSEMENTS OR REPRESENTATIONS WHATSOEVER AS TO THE ACCURACY OF THE INFORMATION, CONTENT OR MATERIALS CONTAINED ON THIS WEBSITE. BY VISITING THE SITE, VIEWING, ACCESSING OR OTHERWISE USING ANY OF THE SERVICES OR INFORMATION CREATED, COLLECTED, COMPILED OR SUBMITTED TO SELLIO™ YOU AGREE TO BE BOUND BY THE PRIVACY RIGHTS AND THE TERMS & CONDITIONS APPLICABLE TO THIS SITE.
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