Bay PointLearn More About Us

Eligible Auctions

Frequently Asked Questions

How does it work?

Five steps, from registration to funding.

  • Register with Concierge Auctions: Create your account, complete identity verification, and e-sign the bidder agreements. Look for the 'Financing Available' note in the property listing.
  • Apply to Bay Point: Click through from the listing to the Bay Point portal. The application takes 5 to 10 minutes and does not commit you to anything. You can stop and resume at any point; upload your documents and complete a short phone interview.
  • Receive Your Term Sheet: Approved bidders receive a term sheet in a timely manner.
  • Bid and Win: Bid knowing your financing ceiling. At auction close, Bay Point confirms the firm loan amount and issues your loan package.
  • Close and Fund: Title, survey, insurance, and loan documents are completed. Bay Point funds your LLC within 30 days of auction close.
How much can I borrow?

Up to 70% of the winning bid, excluding auction and broker fees. Approved bidders receive a term sheet in a timely manner, so you bid knowing your financing ceiling, and at auction close Bay Point confirms the firm loan amount.

How long does it take?

The application takes 5 to 10 minutes and does not commit you to anything. From there the process runs in three phases.

  • Pre-auction application: approx. 3 weeks
  • Auction live: approx. 2 weeks
  • Close and fund: 30 days or less
What are the terms?

The indicative terms, pending our independent valuation of the collateral and final underwriting.

  • Loan Amount: Up to 70% of the winning bid (excluding auction and broker fees).
  • Interest Rate: Floating; 30-Day Average SOFR (as published by the Federal Reserve Bank of New York) + 615 bps, subject to a SOFR floor of 3.84%. 2.00% origination fee. Interest only cash pay.
  • Term: 12 months, no extension option.
  • Recourse: Non-recourse.
  • Property Use: Subject property must be a non-owner-occupied investment property; borrower attestation required.
  • Borrower Structure: Single-purpose LLC, with a pledge of the LLC's membership interests as additional collateral. LLC must be a Bankruptcy Remote Entity.
Who can borrow?

A single-purpose LLC, which must be a Bankruptcy Remote Entity, buying a non-owner-occupied investment property; a borrower attestation is required. The loan is non-recourse, with a pledge of the LLC's membership interests as additional collateral.

Does applying commit me to anything?

No. The application takes 5 to 10 minutes and does not commit you to anything. It asks us to consider financing on a particular property; it is not an offer of credit or a commitment to lend, and whether to bid remains your choice. Every determination is made by a person at Bay Point.

What happens after I win?

At auction close, Bay Point confirms the firm loan amount and issues your loan package. Title, survey, insurance, and loan documents are completed, and Bay Point funds your LLC within 30 days of auction close.

Who is Bay Point?

An Atlanta-based private investment firm founded in 2012, with more than 630 transactions completed and a senior-secured lending track record in ultra-luxury residential real estate. This program is purpose-built for the Concierge Auctions 30-day close.

Who can I talk to?

Beau Hardison, at beauhardison@baypointadvisors.com.

Want the whole picture, from registration to funding? See how it works.

Nothing here is an offer of credit or a commitment to lend.