Buyers' FAQ

Prior to the bid deadline, you should conduct your due diligence by accessing and reviewing all available auction specific information. Additionally, all auctions require you to submit a Bid Deposit Form and funds in order to participate in auction bidding.

Bid deposit amounts are specific to each auction and are indicated on each auction profile page. To submit a bid deposit, you must first complete a Bid Deposit Form indicating your deposit amount and payment method. Bid Deposit Forms are available directly on auction profile pages, or can be accessed in the My Account section of the website when logged in, or by clicking here.

A bid deposit is a monetary deposit required in order to participate in auction bidding. Bid deposit amounts are specific to each auction, and payment methods are accepted in the following ways depending on the auction: 1) credit card (Visa, MasterCard, American Express or Discover), 2) wire transfer, 3) a personal or company check, or 4) international deposit.

If you elect to place a bid deposit by credit card, your credit card account will be authorized for the amount specified from the date of authorization through the duration of the auction. This authorization is specific to this auction and cannot be applied to other auctions.

If you remit your bid deposit by wire transfer or check, monies shall be placed in Republic Escrow Corporation's non-interest bearing trust account at Wells Fargo Bank. Monies submitted to escrow may be used for any auction bid deposit, as long as there are sufficient funds to cover the minimum deposit amount.

Yes. If an auction is no longer in Sealed Bid format and you are not the high bidder, your bid deposit may be refunded.

If your bid deposit is in the form of a credit card hold and you are not the high bidder, 1) the hold will automatically be released at the end of the auction, or 2) you may submit a Return of Deposit Verification (RDV) form and request the hold be released prior to the end of the auction.

If your bid deposit is submitted by check or wire transfer to escrow and you are not the high bidder, 1) your bid deposit remains in your escrow account and is available for bidding on other auctions, or 2) you may request that your bid deposit is returned to you by submitting a Return of Deposit Verification (RDV) form to the Escrow Agent at Republic Escrow. As stated in the Bid Deposit Terms of Agreement and the Terms and Conditions of Sale, your bid deposit will be returned to you within fifteen (15) business days for wire transfers, or twenty-one (21) business days for checks. Additionally, a fifty dollar ($50.00) escrow administrative fee will be deducted from the refund amount.

Please contact an Auction Specialist to obtain a Return Deposit Verification (RDV) form.

Yes. You may bid on multiple auctions at once as long as you have submitted sufficient bid deposits to cover the required bid deposit amount for each asset on which you place a bid.

While the Seller reserves the right to change an asset's Terms and Conditions of Sale or cancel the auction entirely, no asset will be sold prior to its bid deadline.

No, you are strongly advised not to place a bid on any auction unless you intend to honor it. Placing a bid on an asset is considered a legal offer to purchase and therefore, both Buyer and Seller have certain legal rights and obligations. Once an auction has ended and you are declared the Highest Bidder, cancelling your bid will result in forfeiture of your bid deposit. Please consult your legal counsel for any rights and obligations that you may incur as the Buyer.

If the property is in a "Sealed Bid" format, you will not know if someone has submitted a higher bid than yours because no bids are revealed or published on the website. However, if the property is in an "Open Bidding" format, you will receive email confirmation each time a bid is placed on the auction and all bidding activity is published on the auction profile page.

An Auction Manager or Closing Coordinator will contact you directly. At that time, you will be instructed to wire an earnest money deposit within two (2) business days, and the Purchase and Sale Agreement will be sent to you for execution. Sale transactions are specific to each auction and asset type, and detailed information is available in the documents section of each auction profile.

Sealed Bidding means that bids submitted in the auction are not published on our website. Buyers can submit sealed bids any time before the bid deadline, which is displayed on the auction profile page. For a sealed bid to be considered valid, it must be at or above the published minimum bid and the required bid deposit must have been received.

All valid bids placed in an Open Bidding auction are displayed under the Bid History section of the auction profile page. Email notifications are sent to all registered users on that specific auction when bids are placed. Buyers may place bids before the bid deadline published on the auction profile page.

Absolutely. You can place a bid as long as the required bid deposit has been received.