Online Auctions for International Bidders
In today's digital landscape you can communicate with people, research new opportunities, and make purchases on the other side of the globe, and LoopNet is no exception. While LoopNet is a US-based company, we list properties and work with owners, brokers, and investors worldwide.
13 million unique visitors come to LoopNet each month to explore-and many of those are not located in the United States. As part of our commitment to helping investors find the right property for their needs-and helping owners and brokers find the right buyers and tenants for their listings-we offer our owners and investors access to the world's largest CRE marketplace with commercial real estate auctions to meet their goals.
Whether you are in the United States or another country, registering to bid for a online commercial real estate auction is a quick and simple online process. For international investors, auctions offer an efficient pathway to purchasing commercial property in the United States market.
Can I Participate in Online Auctions From Outside the US?
Yes, you can participate in LoopNet's online auctions even if you are not located in the United States. However, your bidder registration process may differ slightly depending on whether your bank has a US branch.
If your bank does have a United States branch, you can register to bid and provide your proof of funds as per our standard bidder registration process.
If your bank does not have a United States branch, you will register to bid and provide your proof of funds and also provide a $100,000 USD participation deposit.
| Bidder Type | Registration Process | Deposit Requirements | Timeline Considerations |
|---|---|---|---|
| Bank with US Branch | Standard registration | Standard proof of funds | Follow regular US auction timelines |
| Bank without US Branch | Standard registration + wire transfer step | $100,000 USD participation deposit | Deposit must be received 3 business days before bidding |
How to Register to Bid on LoopNet if Your Bank Has a Branch in the United States
As long as you have a LoopNet account, you can register to bid. For more information about registering for a LoopNet account, visit our Help Center.
The steps to bidder registration are:
- Visit your chosen property's listing details page (LDP) and click the button that says "Register to bid." You will be prompted to sign in to your LoopNet account if you have not already.
- Confirm your contact information, buyer information, and any applicable broker information. This information will be used for the contract and to contact you in the event that you win the auction. Make sure that this information is right and correctly populating the form before you continue.
- (Optional) Add any additional properties. If you do not wish to add any additional properties, you can skip to the next step.
- Provide proof of funds. You can do this by linking a bank account with Stripe (recommended), manually uploading proof of funds documents, or using a combination of linked accounts and uploaded documents.
- Accept the Participation Terms. This will complete your bidder registration.
If you want to read more about the registration process, take a look at our full bidder registration guide.
How to Register to Bid on LoopNet if Your Bank Does Not Have a United States Branch
You will follow the same steps listed above, with an additional step of sending a $100,000 USD performance deposit by wire transfer.
Here are a few things to keep in mind about the performance deposit:
- You must send this deposit in advance. The deposit must be received by the escrow company at least 3 business days before you place a bid.
- The participation deposit will be held until the end of the auction. It will be held in the escrow company's non-interest-bearing trust account.
- You do have the option to withdraw from the auction and request a refund of your deposit if you decide not to participate in the auction. You can contact the escrow company's office by mail or fax with a written statement of cancellation and a request for the return of your deposit. This must be done prior to placing a bid.
- If you are the winning buyer, the deposit will be used as part of your earnest money deposit (EMD). The deposit will be automatically transferred to the escrow/closing agent.
- If you are not the winning buyer, the deposit will be refunded to you. You should receive your refund within 7 business days.
$100,000 USD Deposit Process for International Bidders Using Banks Without United States Branches
Frequently Asked Questions
Are there any countries from which I can't register to bid?
We do not have an official list of countries where bidding is forbidden. If you have a question about whether you can register to bid, please contact our customer support team.
Are there any other differences in the process?
There are no other additional steps you will need to take or changes to the process. However, keep in mind that the bidding windows for our online auctions will be based on our US time zones. Make sure to convert the bidding times and auction deadlines to your local time zone to ensure you have ample opportunity to participate.
Additionally, if you are the winning bidder, after you and the seller have electronically signed the Purchase and Sale Agreement (PSA) you will be required to wire your EMD on the first business day by 5:00 pm in the time zone where the property is located. Make sure to convert that deadline to your local time zone to prevent any problems with the closing process.
How can I assess property value before bidding in an international auction?
Before participating in an auction, international bidders should research the property thoroughly using property valuation tools and local market data. Understanding the property's fair market value helps establish your bidding limits and ensures you make informed decisions during the auction process.
