Everything you need to know.
Whether you’re buying or selling, we’ve got you covered.
Featured Guides
Step-by-step answers to your home buying and selling questions.
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Congrats! You’ve decided to save tens, or even hundreds of thousands of dollars by selling with pocket. Or, maybe you’re just interested in learning more….
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It’s no secret that the home buying and selling process involves a lot of paperwork. But what you might not know is that most of…
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What Is an Appraisal? An appraisal is a process by which a licensed appraiser assesses the market value of a home. The appraised market value…
Explained Series
The most confusing real estate topics explained.
Frequently Asked Questions
Your questions, answered.
A pocket listing provides buyers with the information they need to make intelligent offers and sellers with offers that close quicker. Every home listed on pocket includes:
- Seller’s terms – the terms that the seller is willing to accept from the highest bidder when their reserve is met at the end of bidding.
- Due diligence documents – preliminary title report/title commitment, pre-inspection report, seller’s disclosure and Purchase and Sale Agreement (PSA).
- Neighborhood data – school ratings, crime rankings, and demographic information.
- Price Information – neighborhood and metro home value appreciation comparisons, historical sales price(s), average neighborhood home price, and estimated rental value compared to average neighborhood rent.
- Bid analytics – all bids, bidding trends over time, average bid increase, number of bidders and bidding frequency.
- Direct access to the seller – live commenting and seller Q + A.
- Sign up – provide basic details about your home, set your reserve price and seller’s terms.
- Listing creation – we do all the heavy lifting and create your listing for free, including professional photos, video, 3D tours, pre-inspections, and more. For more information, check out our listing FAQs.
- Pre-bid starts – qualified buyers can view and save your home on pocket and register to attend the exclusive preview.
- Bidding opens – the bidding period lasts 7 days. During this time, we encourage you to answer buyer questions and respond to comments.
- Pick the best offer – at the end of bidding, if your reserve price is met, the winning bidder is sent a Purchase and Sale Agreement (PSA) to sign as a formal offer. For more information, check out our post-bid FAQs.
- Sign – once you and the buyer have signed the PSA, the PSA becomes a legally binding agreement.
- Close – the closing process is not handled by pocket. However, we do have preferred closing partners. To learn more about the closing process, check out our guide to navigating the closing process.
- Sign up – register to bid as a qualified buyer by submitting your pre-approval letter or proof of funds.
- Find exclusive homes – and attend exclusive previews for the ones you’re interested in bidding on.
- Bid – make an intelligent offer. For more information, check out our bidding FAQs.
- Win – at the end of bidding, if your bid is the highest and meets the seller’s reserve, a Purchase and Sale Agreement (PSA) is automatically generated for you to sign as a formal offer. For more information, check out our post-bid FAQs.
- Sign – once you and the seller have signed the PSA, the PSA becomes a legally binding agreement.
Note: the buyer’s fee is collected after the seller signs the PSA. If the seller does not sign the PSA, no fee is collected.
- Close – the closing process is not handled by pocket. However, we do have preferred closing partners. To learn more about the closing process, check out our guide to navigating the closing process.
Glossary
Terms you should know whether you’re buying or selling.
