Bidder Requirements

Bidder Registration

The registration process is a three-step process that involves submitting contact information, provide CREXi with tangible proof of readily available funds up to such bidder’s maximum offer price and no less than the Asking Price, and place a bidder deposit by wire transfer (“Bidder Deposit”).The information you submit requires verification, therefore registration should be completed at the earliest possible time and before the bidding window opens.  

Bidder Information

Bidder information is populated in the Purchase Documents with information submitted at the time of registration.This section requires key contact information in order to complete registration.  

Submit Proof of Funds

Bidders are required to establish a bid limit for an auction event.CREXi will verify and approve or decline a bid limit based on the proof of funds submitted.In general, only liquid funds readily available to the bidder will be counted towards the requested bid limit.If multiple individuals or entities will be collaborating to bid on an asset, all individuals will be required to execute Purchase Documents if deemed the Winning Bidder. 

 

Bidder Deposit

Wire Deposit – CREXi will circulate a Bidder Agreement along with Wire instructions for 

City National Bank.

Select Assets You Wish to Purchase

CREXi permits users to register for one or multiple assets in an auction event.

With your request to register to bid and submission of eligible proof of funds, you are agreeing to the Auction Terms and Conditions.

After registering to bid on the CREXi website, please email Proof of Funds to: 

Sonya Bokano | (949) 444-9510 | Sonya@CREXi.com

Once your Proof of Funds have been approved, you will receive an email confirmation outlining your approved bid limit.  If you would like to increase your bid limit, you may submit additional proof of funds. The email will also outline directions on how to submit your Bidder Deposit and next steps. 

 

FAQ

The Winning Bidder’s Bid Deposit made via wire transfer can be applied towards the required Earnest Money Deposit.

All Bidder Deposits from bidders other than the Winning Bidder will be released after the conclusion of the Auction.

CREXi is authorized to place a bid on the Seller’s behalf during the auction. Any such bid will not result in the sale of real property. CREXi will not place a bid that meets Seller’s reserve amount and will stop bidding once such reserve amount has been met.

Purchase documents will be circulated for electronic signature via DocuSign.  The Winning Bidder will need to be available to access and sign the electronic documents on the day of the Auction.

Earnest Money Deposit is due to escrow on or before 5:00 p.m. PST on the first business day following the close of the Auction, the Winning Bidder shall deposit ten percent (10%) of the highest bid.

The consummation of the transaction with respect to the conveyance of the Property by Seller to Buyer (the “Closing”) shall occur on or before (the “Closing Date”) reflected within the purchase documents. 

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