For Brokers Top

Q: Do listing brokers who submit properties to sell at AP13 retain their commissions?

A: Yes.

Q: Do procuring brokers get a commission?

A: Yes. Commission splits between listing brokers and procuring brokers remain intact. The “For Brokers” tab on each auction website lists the procuring fee for each property.

Q: How will AuctionPoint2013 be marketed?

A: AuctionPoint2013 will be marketed to commercial real estate investors, brokers and users on an international, national and local scale. AP13 will be advertised in The Wall Street Journal, Investor’s Business Daily, Financial Times, GlobeSt.com, local newspapers and numerous other print and online publications. In addition, listing brokers will continue to market their individual listings through traditional channels, such as regional and local listing services, signage, and broker associations.

For Buyers - Prior to the Auction DateTop

Q: What types of properties will be sold at AP13?

A: All commercial property types (as well as notes) from around the country will be sold at AP13, including multi-family, retail, office, hospitality, mixed-use and industrial.

Q: Can I inspect the properties before placing bids?

A: Yes. All properties are available for inspection prior to the bidding date.

Q: Can I submit a pre-auction offer?

A: Yes. Pre-auction offers are encouraged. If you would like to purchase a property prior to auction day, please contact the listing broker to submit your offer. If a property enters contract prior to the bidding date, the property will be removed from the auction event and all participants will be notified.

Q: Who owns the properties being auctioned?

A: The properties being auctioned are owned by banks, corporations, partnerships and other motivated owners who wish to liquidate their assets.

Bidding Top

Q: How do I place bids?

A: Please make sure that prior to the auction date, you are registered and have submitted a Winners’s Deposit. On the auction date, click on the “Details and Bidding” button next to the property you are interested in bidding on and sign in. You will then be able to place bids.

Q: Can the auction company or seller place bids?

A: No. Bids are only accepted from buyers who have registered and submitted a Winner’s Deposit. AP13 does not allow the auction company or seller to place bids.

Q: What is the Buyer’s Premium?

A: The Buyer’s Premium is a fee equal to 2.5% of the winning bid amount, which is payable to the auction company at the close of escrow.

Q: What is the Starting Bid?

A: The starting bid is the lowest price at which the property will be sold. As long as at least one bidder bids the starting amount, the Seller is obligated to sell the property to the highest bidder, on the terms contained in the purchase and sales agreement. Note that if there is a hidden reserve which has not been met, the Seller is not obligated to sell the property.

Q: What is the difference between a Winner’s Deposit and Earnest Money Deposit?

A: The Winner’s Deposit is a deposit posted by anyone wishing to place a bid on auction day. The Winner’s Deposit is refunded if you are not the winning bidder. The Earnest Money Deposit is posted by the winning bidder as part of the escrow process, and is usually non-refundable (see purchase agreement for specific terms).

Q: Can I bid on more than one property at the event?

A: Yes, buyers may place bids on more than one property. Note that for each property auction, you will need to register and submit the Winner’s Deposit. If you would like to register for multiple properties, please call us at (800) 807-1688 and ask about our Premier Registration Program.

Q: Are sellers obligated to sell their properties?

A: Yes, as long as the Starting Bid is met, the seller is obligated to sell the property. If there is a hidden reserve, the hidden reserve must also be met.