New York REMOTE BID
Win youR next auction with
just a 10% Winning Bid Deposit

WHAT’S A WINNING BID DEPOSIT?

New York Foreclosure auctions have a 10% Winning Bid Deposit requirement due at the time of being declared the winning bidder on any property. The 10% deposit is determined by the winning bid amount. The buyer is required to pay the deposit immediately upon winning. The remaining funds are due in a specified number of days, set by the Referee of the sale. While New York auction rules state the remaining balance is due in 30 days, this can vary. Ensure you check with the Referee to meet any required deadlines.

fund your winning bid deposit with remote bid

Just as you would pay the Winning Bid Deposit at an in-person auction, we now make it possible for you to submit your Winning Bid Deposit remotely. With Remote Bid you can now fund the 10% Winning Bid Deposit online.

the remote bid advantage in New York

CONVENIENCE OF ANYWHERE

Place bids in advance from anywhere, freeing up your time for more business opportunities. Skip the bank, avoid long travel times, and stay comfortable year-round.

Get the best possible price

Buyers who place bids before the auction can benefit from automated bidding, which places bids only when you are outbid. This lets you bid on multiple properties, with the lowest possible bid placed once properties are cleared for sale.

Hassle free automatic wire of deposit funds

Say goodbye to cashier’s checks and bank trips. With Auction.com, bid on any eligible property using your deposit, and we’ll automatically wire the funds to the appropriate Referee A Referee is the Foreclosure Sales Agent, typically an attorney who ultimately conducts the foreclosure sale. when you win. No more trying to figure out who to make checks payable to!

reach More properties

Remote Bid is now available on select properties in New York, with plans to expand soon. Simply search and filter “Foreclosure Homes” and buying type “Remote Bid” to see what is available and enjoy the convenience of bidding without courthouse visits. Inventory is added all the time!

Fund your deposit through Remote Bid

Skip the courthouse by funding your deposit through Remote Bid and bid ahead of time on the properties you are interested in. Your bid is never revealed to the Referee ahead of time.

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DID YOU KNOW?

In New York, in-person Foreclosure auctions are managed by a RefereeA Referee is the Foreclosure Sales Agent, typically an attorney who ultimately conducts the foreclosure sale., and checks must be made payable to each individual Referee. Since there may be multiple Referees involved, this may require multiple checks, each made out to a different Referee.

REMOTE BID MAKES IT EASY

With Remote Bid, fund your winning bid deposit in advance. When you win, Auction.com automatically wires your deposit to the appropriate Referee, simplifying the payment process.

HOW IT WORKS

DEPOSIT 10% OF YOUR PLANNED HIGHEST BID
BID FROM ANYWHERE ON ONE OR MORE PROPERTIES
AUTOMATIC WIRE OF DEPOSIT FUNDS IF YOU WIN
FOLLOW CLOSING INSTRUCTIONS-REMAINING FUNDS DUE LATER

Before bidding, determine your highest bid and fund 10% of that amount into your Remote Bid account. You’ll need 10% of your highest bid for each property you win.

Bid from anywhere with Remote Bid. Place your highest bid before the auction and increase it if needed in real time.

If you win the auction, your Remote Bid account will automatically be debited 10% of the winning bid amount.

The remaining balance will be settled within the timeframe specified by the Referee for that sale. Keep an eye on your email for next steps. This timeline is typically 30 days but may vary depending on the property.

It’s a great fit for New York auctions!

Qualify for Remote Bid Meet with a Specialist

Upcoming New York Opportunities

View More Remote Bid Properties

Frequently Asked Questions

Yes, now you can fund your 10% Winning Bid Deposit, through the Remote Bid feature in the app.

If you win the auction, your Remote Bid account will automatically be debited 10% of the winning bid amount. The remaining balance will be settled within the timeframe specified by the Referee for that sale. Keep an eye on your email for next steps. This timeline is typically 30 days but may vary depending on the property.
Your funds will remain in your Remote Bid account until you win an auction and are required to pay a Winning Bid Deposit, bid and win in a different state, OR request a refund.

Simply request a refund through the Remote Bid feature in the Auction.com app, and your refund will be processed in a matter of days.

Questions about remote bid?

Connect with a Specialist Now.
1 (800) 793-6107 ProBidder@auction.com