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General

What is offered for sale on FRE.com?

Various types of real estate assets are sold online including residential, commercial, office, hospitality, retail, industrial, land and also non-traded public REIT shares.

Where will the sale be held?

Right here on FRE.com. All of our transactions are conducted 100% online.

Once I register, who will have access to my personal information?

All user information on FRE.com is treated with the utmost confidentiality and respect for your privacy. At no time will any user information be sold, rented or otherwise disclosed to third parties except to those specifically involved in your purchase transaction. It’s strictly on a need-to-know basis. Please see our privacy policy for further details.

What is a Tender OfferTM on FRE.com?

An online program where prospective buyers and their agents can submit offers to buy real estate, including price and contingencies along with supporting documentation.
The seller of the real estate may specify Tender OfferTM parameters including pricing guidance, minimum earnest money deposit and maximum length of the due diligence period. The seller may declare a second round – "Best & Final®" where prospective buyers can benefit from more guidance, and have an opportunity to revise their bids.

What is a 'Sealed Bid' auction?

Although bids are placed online through FRE.com, in a sealed bid auction none of the bids are published on the website.

What is an 'Open Bidding' auction?

An auction with open bidding will display all valid bids as they are received. Bids will appear under the Bid History section on the property profile page.

What is a 'Last Call®' auction?

It’s just that, a 'last call' for bids. The initial bid deadline is extended for a specific period of time allowing bidders to submit their bids before the next deadline ends the auction. If a new bid is received, the deadline will extend again giving all bidders time to place their next bid. Last Call bidding is fair to everyone because it prevents 'sniping'. That’s when a bidder waits until the final seconds of an auction and then swoops in and outbids everyone right as the auction ends.

Please note: If an auction includes a portfolio of properties, the bid deadline may be extended for all the properties, regardless of bids being placed on an individual property. This is what we call Universal Last Call.

What is a REIT?

Real Estate Investment Trusts (REITs), were created by United States Congress in 1960 to allow average investors the opportunity to invest in large-scale, income-producing real estate. To qualify as a REIT and enjoy preferential tax treatment from the IRS, a REIT must annually distribute at least 90 percent of its taxable income in dividends to its shareholders. On FRE.com, you’ll find public 'non-traded' REIT shares to be sold via auction and are not available for purchase on major stock exchanges.

Seller - Property

What is offered for sale on FRE.com?

Various types of real estate assets are sold online including residential, commercial, office, hospitality, retail, industrial, land and also non-traded public REIT shares.

Where will the sale be held?

Right here on FRE.com. All of our transactions are conducted 100% online.

How will my property be marketed?

Each property is marketed individually by our in-house advertising agency based upon the marketing budget received. The campaign could be as basic as onsite signage or as extensive as print, web and email advertising in local, regional, national or international markets. Remember to think of your auction as a party and the advertising campaign as invitations - you want people to come to your party!

What happens if my reserve price is not met?

Should your reserve price not be met, you will have the opportunity to accept or decline the final bid or offer. Your Event Manager can walk you through some important factors to consider at the end of the sales event, so be sure to consult with them.

Seller - REITs

How do I sell my non-traded public REIT shares on FRE.com?

First, you will need to create a user account on FRE.com and provide information about your shares. Once the REIT auction specialist confirms ownership, documents will be prepared and the online auction will go live.

More questions about selling your REIT shares?
Contact a REITbid representative at (800) 494-7600 or support@reitbid.com
You can also visit www.REITbid.com/faq

Buyer - Property

What is offered for sale on FRE.com?

Various types of real estate assets are sold online including residential, commercial, office, hospitality, retail, industrial, land and also non-traded public REIT shares.

Where will the sale be held?

Right here on FRE.com. All of our transactions are conducted 100% online.

What is a Tender OfferTM on FRE.com?

An online program where prospective buyers and their agents can submit offers to buy real estate, including price and contingencies along with supporting documentation.
The seller of the real estate may specify Tender OfferTM parameters including pricing guidance, minimum earnest money deposit and maximum length of the due diligence period. The seller may declare a second round – "Best & Final®" where prospective buyers can benefit from more guidance, and have an opportunity to revise their bids.

What is a 'Sealed Bid' auction?

Although bids are placed online through FRE.com, in a sealed bid auction none of the bids are published on the website.

What is an 'Open Bidding' auction?

An auction with open bidding will display all valid bids as they are received. Bids will appear under the Bid History section on the property profile page.

What is a 'Last Call®' auction?

It’s just that, a 'last call' for bids. The initial bid deadline is extended for a specific period of time allowing bidders to submit their bids before the next deadline ends the auction. If a new bid is received, the deadline will extend again giving all bidders time to place their next bid. Last Call bidding is fair to everyone because it prevents 'sniping'. That’s when a bidder waits until the final seconds of an auction and then swoops in and outbids everyone right as the auction ends.

Please note: If an auction includes a portfolio of properties, the bid deadline may be extended for all the properties, regardless of bids being placed on an individual property. This is what we call Universal Last Call.

What is a Bid or Offer Deposit?

Each property for sale has a required bid deposit that you must submit in order to have your bid/offer on the asset considered valid. It tells us and the seller that you are a serious buyer.

How do I submit a Bid or Offer Deposit?

Bid and Offer deposits are typically submitted via wire transfer, certified check or a credit card hold. Please refer to the property profile page for the accepted submission of the bid/offer deposit for that specific asset.

Is my Bid or Offer Deposit refundable?

Yes, if you are not declared the purchaser.

Can I place bids and offers on multiple properties at once?

Yes, but only if you have submitted sufficient funds to cover the required deposits on each asset.

Can I make an offer directly to purchase a property?

No. All bids and offers must be placed through the FRE.com website.

Is financing offered?

Financing is available on some properties. It’s best to confirm whether the particular property you are interested in does offer financing by reviewing the Terms and Conditions of Sale.

Will the property be sold with clear title?

Yes, the property will be conveyed free and clear of any and all liens and/or encumbrances, including delinquent taxes. If, for whatever reason, the property cannot be delivered with clear title, you will be refunded in full any and all fees and/or deposits you have submitted and you will also be under no further obligation to purchase the property.

How will I know if someone has outbid me?

For Last Call and Open Bidding Auctions you will be notified via email each time a new bid is placed. If you are not actively bidding in the auction, you can receive 'new bid' notifications by adding the auction to your Watch List. For Sealed Bid Auctions and Tender Offers other bidders are not notified when bids or offers are placed.

What happens if the seller accepts my Bid or Offer?

You will be contacted by the Event Manager who will walk you through the next steps. But in a nutshell, once you have received confirmation that your bid or offer has been accepted by the seller, you are required to submit the purchase deposit monies and execute the Purchase and Sale agreement. Review the Terms and Conditions of Sale for specifics.

Buyer - REITs

How is bidding on non-traded public REIT shares different to property?

Rather than providing a bid deposit for each auction, it is required that you provide credit card details to verify your identity.

More questions about buying REIT shares?
Contact a REITbid representative at (800) 494-7600 or support@reitbid.com
You can also visit www.REITbid.com/faq

Broker

What is offered for sale on FRE.com?

Various types of real estate assets are sold online including residential, commercial, office, hospitality, retail, industrial, land and also non-traded public REIT shares.

Where will the sale be held?

Right here on FRE.com. All of our transactions are conducted 100% online.

I am a licensed real estate professional. How can I represent a buyer?

Create a User Account and identify yourself as a broker or agent to receive your FRE broker/agent registration number. Then download and complete the Broker’s Participation form located on the specific property your client is interested in purchasing. The form must be submitted BEFORE your buyer submits a bid or offer.

Can I include my listings on FRE.com?

Yes you can! Contact a Sales Associate to discuss our Accelerated Marketing Program (AMP®), specifically developed for real estate professionals. newauctions@fre.com or (800) 966-0610

Broker -Dealers

Does FRE.com cooperate with securities broker-dealers?

Securities professionals are encouraged to have their clients register to participate in REIT share auctions. Upon completion of a REIT share auction resulting in a transfer of shares, the buyer and seller have an opportunity to identify their referring broker dealer or registered representative. At this time, the required paperwork is sent to both parties and their representatives to document and verify the qualification of the referral.

For more information on REIT share auctions, please contact a REITbid representative at (800) 494-7600 or support@reitbid.com
You can also visit www.REITbid.com/faq

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