""Countdown To Buy"":http://www.countdowntobuy.com/index.php, a next-generation online real estate marketplace based in Bethel, Connecticut, announced Wednesday that it has entered into a new pilot program with a banking institution to offer a sampling of foreclosed properties in Texas.[IMAGE]
""This pilot affirms that the appeal of our model and reach of our platform fills a broad set of needs within the spectrum of disposition strategies,"" said Tom Furey, managing partner of Countdown To Buy. ""Our innovative solutions result in significant benefits for the institutions we partner with such as reduced costs, less buyer fall-out, enhanced work flows and shorter sales cycles.""
The initial properties included in the pilot program will be located in Dallas and can be researched on the company's[COLUMN_BREAK]
Web site. Confidential offers on these listings can be submitted online starting this Friday and will be accepted for 25 days. Following Countdown To Buy's method, the list price of these properties is scheduled to reduce 1 percent per day.
Founded in 2008, Countdown To Buy uses a patent-pending technology that automatically matches buyers and sellers in a real estate transaction through a time-limited process that reduces the property's list price every day. Confidentially-submitted offers are systematically compared to the daily price, and when an offer matches or exceeds that price, it is automatically accepted.
""Countdown To Buy's process is gaining traction as a timely and cost effective solution for institutions to better manage REO inventory,"" said Dan Connell, president of Countdown To Buy. ""The combination of Countdown To Buy's innovative platform, combined with the skills and knowledge of the Agents that we are collaborating with is proving to be a very effective practice.""
""As DSNews.com reported"":http://dsnews.comarticles/countdown-to-buy-launches-automated-real-estate-matching-platform-2009-12-08, Countdown To Buy launched its online platform with a nationwide servicer in December 2009, offering properties in Connecticut, New Jersey, and New York. The company is currently in negotiations with other banks and servicers and plans to launch additional programs throughout the United States in the future.