System and Method of Enabling an Interactive Online Sales Process for Electronic Real Estate Transactions

摘要

An interactive online sales process is presented for electronic real estate transactions. The process includes initializing a bidding file and instantiating an electronic sale transaction based on the data in the file. Parameters of the sale can be customized by a seller or listing agent. An electronic bid can be generated and populated with input received from a buyer. The electronic bid can include standard and custom conditions. A time limit can be set to acknowledge the electronic bid. The time limit is gradually reduced, and upon expiration of the time limit, the process is suspended if the electronic bid has not been acknowledged. Once the seller acknowledges the bid, the interactive sale transaction can be resumed. An electronic bid can be tagged as being a favorite or as being the accepted bid. Upon acceptance, the transaction can complete by populating a contract form with data retrieved from the transaction.