Auction registration is a required step to place a bid and buy an auction property. To begin registration, please hit the “Register to Bid” button for each property you intend to bid on. During your registration you have to ability to upload documents, this allows you to upload you Proof of Funds. Please note that Proof of Funds are required to become fully approved to bid.
1.) Proof of Funds. The required liquid funds (or lending term sheet) should be greater or equal to your maximum bid you are willing to place for each property. If you are bidding on multiple properties in an event, the balance must be greater or equal to the aggregate max bid amount. The following forms of Proof of Funds are acceptable:
- Bank Account Statement(s)
- Financial Institution Letter
- Lender Term Sheet
- International Funds currently held in escrow
- 1031 Exchange
2.) Participation Deposit. Each property has a posted Participation Deposit amount. If you are bidding on multiple properties in an event, the bid deposit must be greater or equal to the aggregate bid deposit amount for each property, please refer to the listing page for exact amounts. You can submit your Participation Deposit via Credit Card or Wire Transfer.
Credit Card Deposits may be completed within the Credit Card portion of your online registration. If you are deemed the successful bidder, your Credit Card Participation Deposit will not be applied towards the Earnest Money Deposit, you will be required to wire the Earnest Money Deposit to escrow according to the terms within the Purchase and Sale Agreement. If you are the unsuccessful bidder, the Participation Deposit Cred Card hold will be released within 7 business days.
Wire Deposits may be completed through your financial institution and completing the Bid Deposit Agreement located within the Listing Due Diligence vault. Please note that wire transfers may take up to 24 hours to process and 3 business days to process international transfers, the Participation Deposit must be received prior to bidding approval. If you are deemed the successful bidder, your Participation Wire Deposit will be applied towards the Earnest Money Deposit, you will be required to wire the remaining balance of your Earnest Money Deposit to escrow according to the terms within the Purchase and Sale Agreement. If you are the unsuccessful bidder, the Participation Wire Deposit will be returned within 3 business days and in accordance with the Bid Deposit Agreement. Please note that wire funds must be returned to the account the funds were initiated.
Please complete the steps above to submit your registration. Crexi Auction team members will review your submission and you will receive a notification when you are formally approved. We look forward to your participation!