Financing for Concierge Auctions Bidders
Bid with confidence. Up to 70% of your winning bid, funded within 30 days of auction close.
Program at a Glance
Up to 70% LTV on the Winning Bid Amount
12-Month Term
Non-Recourse
Funding Within 30 Days of Auction Close
Non-Owner-Occupied Investment Property
LLC Borrower
How It Works: Your Path from Registration to Funding
- Pre-auction application (approx. 3 weeks)
- Auction live (approx. 2 weeks)
- Close and fund (30 days or less)
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.
What to Have Ready
- Government-issued ID
- Personal financial statement and proof of funds
- LLC operating agreement and certificate of good standing
- Business-purpose / non-owner-occupied attestation
- Consent to credit and background check
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. |
Why Bay Point
- Founded 2012, Atlanta-based private investment firm; 630+ transactions completed
- Senior-secured lending track record in ultra-luxury residential real estate
- Purpose-built program for the Concierge Auctions 30-day close
Starting an application commits you to nothing.