How To Bid
The following steps are required to bid on commercial assets and loans on this site:
Register – Create a Bidder Account
- Once registered, you will be free to view all assets available for sale on CommercialBid.com
Review Due Diligence Information
- Once you’ve found an asset that you are interested in potentially bidding on, begin reviewing the Due Diligence information available for the asset as soon as possible
- All Due Diligence information for an asset is available to view, print, and download at the bottom the each asset detail webpage
- In order to gain access to the Due Diligence information, you will be required to electronically accept and agree the Confidentiality Agreement
- Once access to a Due Diligence item is clicked, the Confidentiality Agreement will automatically pop-up on the screen and you will be prompted to review the document and click a box at the bottom of the pop-up window effectively executing the agreement electronically for that asset.
- After executing the Confidentiality Agreement, you will be given immediate access to all Due Diligence information available for that asset (each asset will require separately executed Confidentiality Agreements)
Request a Bid Number
- In order to Bid on an asset you will need to Request a Bid Number and qualify to bid for assets
- Prior to the start of the online bidding period for an asset, you will need to click the “Request Bid Number” button on the asset details page in order to obtain a Bid Number for that property. Each property will require prequalification and a Bid Deposit, unless otherwise specified.
- Once the “Request Bid Number” button is clicked, you will be prompted to complete the following requirements in order to be approved for online bidding:
1. Complete the Bidder Qualification Form
2. Complete the Bid Deposit Escrow Authorization Form and provide a $10,000 Refundable Bid Deposit via cashier’s check or wire to the Escrow Company
3. Submit Proof of Available Funds demonstrating your ability to purchase the asset
- After CommercialBid has verified your qualification information and receipt of your Bid Deposit, you shall receive you Bid Number via email.
- You will need a unique Bid Number for each asset that you are interested in bidding on so please keep those numbers filed until the bidding ends. You will also be able to view these numbers in your Bidder Account under Bid Numbers.
Place a Bid
- Once you have been issued a Bid Number you will be able to login and enter your Bid Number to become an active bidder
- Once the live bidding period for an asset has begun, you will be able to place bids in real time on the asset by selecting the “Place Bid” button on the individual asset detail page
- You are also able to utilize Bid Assist - an automated bidding system to assist you with bidding while you are away from your computer. Please review the Bid Assist
