For investors there are a number of considerations that must be made before pulling the trigger on a commercial property.  One of the most important things to consider is insurance against potential losses.  The residential market has started to cool down in some respects but the Commercial market is about to explode.  A lot of investors who may have not considered investing in Commercial now have the opportunity to get their hands on some incredible deals. 

I got a chance this weekend to take a glimpse at what looks to be a game changing platform for buying and selling bank owned property.  Bidday.com is priming for launch and has been hosting numerous test auctions.  The kinks are basically all worked out.

A brief overview...

BidDay™ Auctions is a most sophisticated real estate sales auction technology internationally with the ability to sell large blocks of ( REO ) bank properties and Non-Performing Notes/Loans to first time home buyers and investors. BidDay has a highly sophisticated inspection reporting on properties, video tours, artificial intelligent Avatars that interact with buyers, cutting edge wireless interfaces and iPhone applications and property repair and closing systems. Buyers can compete for properties either traditionally from a hotel ball room or using BidDay™’s proprietary online auction technology where they can see and hear the live auctioneer in real time from their computer, purchase a property, and close quickly. Lenders use live advanced controls for inventory management and pricing.