Why This Method?

We learned about the 5-day home-selling method from the book How to Sell Your Home in 5 Days”, by Bill Effros. After picking up the book in a bookstore, reading a couple of chapters and skimming the rest, we brought it home and read it immediately. An open round-robin bidding process made perfect sense to us. Soon afterwards, we discovered that one of our friends was also familiar with it; a friend of his had sold his house in five days a few years before in a down market. We sold our first house by this method in 2001.

We plan to sell our home for the best offer through an open, friendly and honest round-robin bidding process on Sunday night, after the two-day inspection.

We decided on this process because it allows the market to set a price that will be fair to both the seller and the buyer. It also provides a fast schedule and lets us choose the time. The traditional selling method of starting from a high asking price and slowly coming down to a fair price can drag on for weeks and months. In a 5-day sale, a qualified highest bidder can move into a new home as soon as he or she can close.

This is the bidding process: