Benefits of the New Strategic Partnership
"Through this innovative relationship, consumers can now bid for a home without leaving the comfort of their current one," said Alison Berkely Wagonfeld, Director of Marketing for QuickenMortgage. "In one shot, a consumer can shop and get pre-approved for a mortgage online, and then research and bid on a Homebid.com home."

Potential home buyers can access Homebid.com's innovative online real estate transaction system, which allows an unlimited number of sellers, buyers and their brokers to participate from their homes and offices.

Consumers interested in purchasing a mortgage for a Homebid.com home can receive personalized cost comparisons and a pre-approval letter from the nation's top lenders and then submit mortgage applications online through QuickenMortgage. Consumers who apply on the QuickenMortgage site will be directed to mortgage.com, who will process, fund and sell the mortgage to participating lenders.

"This partnership is about pooling the resources consumers need to make the most informed home buying decisions, whether they are selecting a mortgage, searching for a home or making an offer," said Kevin M. Hickey, president and CEO of Homebid.com. "Since home buyers can make an online offer through Homebid.com, offering top-notch financing services is a natural step."

Consumers visiting Homebid.com can search among hundreds of homes in a range of prices to find one that meets their needs, take a virtual tour and get detailed information about the property, its neighborhood and schools. After touring the home, prospective buyers, with the help of a registered real estate agent, may submit a bid for the house during an online sale. Other potential buyers may also submit bids, allowing the open market to determine the price of the home.