How to Send Money to Facility
Two rules matter most when submitting money: the required 3.5% deposit and the timeline you have after paying it.
You must provide a 3.5% deposit before the opening bid. The deposit has to be paid as a cashier’s check, money order, or wire transfer.
Once you've paid the 3.5% deposit, you have up to 90 business days to complete the sale. Good to know: no interest accrues on the remaining balance for the first 60 business days.
Plan ahead: Have the 3.5% deposit ready before the opening bid. You'll have 90 business days to complete the sale, with the first 60 business days interest-free on the balance.
- Prepare the 3.5% deposit: Use an accepted form of payment only (cashier’s check, money order, or wire transfer).
- Submit the deposit before bidding starts: The 3.5% deposit must be provided before the opening bid.
- Map out your payoff timeline: After the deposit is paid, you have up to 90 business days to complete the sale, and the balance does not accrue interest for the first 60 business days.
What to Verify
- ✓ Who the cashier’s check or money order must be made payable to
- ✓ Whether wire transfers have specific instructions you must follow
- ✓ The exact cutoff for providing the 3.5% deposit relative to the opening bid
- ✓ Whether the 90 business day completion timeline (and the 60 business day interest free period) has any special conditions in your situation
Verify before you go: This information covers the deposit requirement and post-deposit timeline. Confirm details directly with the facility before bringing funds, since payment handling and deadlines can change.
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