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Eligible Auctions

Frequently Asked Questions

How much can I borrow?

Up to 70% of the hammer price, which is your winning bid at auction. Approved bidders receive a term sheet before the auction opens stating the maximum loan amount, conditional on winning, so you bid knowing your financing ceiling.

How long does it take?

The pre-auction application takes about three weeks, the auction itself runs about two weeks, and funding follows within 30 days of auction close.

Who can borrow?

An LLC, buying a non-owner-occupied investment property. The loan is non-recourse: a first lien on the property plus a pledge of the LLC's membership interests.

What are the terms?

A 12-month term with no extension, a floating rate of SOFR plus a spread, and a 2.0% origination fee. These terms are indicative and are set after underwriting of the property and the borrower; inquire for pricing.

What should I have ready?

Five things, and the application walks you through each.

  • 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
Does applying commit me to anything?

No. An application 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 auction house's 30-day close.

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

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