Crexi

Crexi is a commercial real estate marketplace whose Crexi Auctions service sells properties by auction. Bidders are screened in advance, terms are all cash, and there is no negotiating before, during or after bidding. The highest bid above the seller's reserve wins.

How buying works

• Registration: bidders click Register to Bid on each property, upload proof of funds covering at least their maximum bid (or combined maximum bids), and authorize a participation deposit by credit card. The Crexi Auction team then approves the bidder.
• Deposits: each listing sets its own participation deposit. The winner separately wires an earnest money deposit to escrow under the purchase and sale agreement; the participation deposit is not applied to it.
• Bidding: auctions run for a 48-hour window and cannot accept bids below the starting bid. Once the reserve is met, the property sells.

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Facts only, from the sources listed above. Always check each listing’s terms before you bid.