When you register to bid on a Ten-X auction property, you’ll be asked to provide proof of funds.

This is a necessary step in Ten-X registration—you will not be able to complete the registration process and participate in one of our auctions without completing this step.

What are proof of funds?

Proof of funds demonstrate a bidder’s ability to purchase assets being offered for sale and are used to set the bid limit. They are required to participate in an auction.

Liquid funds must be available immediately without restriction. The acceptance of proof of funds documents is made at the sole and absolute discretion of Ten-X.

How to provide proof of funds

At this time, you have two options to provide your proof of funds.

• Link a bank account with Stripe. You can quickly and securely connect your bank account through Stripe to establish a bid limit. Using Stripe makes it safe and easy to provide proof of funds. By connecting your account(s) via Stripe, your funds will not expire and your balance will be automatically updated.
• Manually upload proof of funds documents. You can manually upload bank account statements, brokerage account statements, or letters from your financial institution stating the account balance. Loan pre-approval letters and term sheets are not acceptable, unless otherwise indicated in the sale listing description and only when utilizing approved lending channels. A line of credit agreement may be acceptable only if it is already in place, has undrawn capacity, and may be funded immediately without bank approval.

How to link a bank account with Stripe

Connecting an account through Stripe is simple, fast, and safe.

1. In the Proof of Funds section of the bidder registration form, click “Connect”
2. After the Stripe pop-up appears, select your banking institution and enter your bank login credentials.
3. A list of your accounts will appear. Choose the account(s) you would like to connect.
4. Once Stripe has successfully connected your bank accounts, you will see a success message. Click “Done” to close the pop-up.
5. You will see all your bank accounts listed on the bidder registration form, along with the current balance and connection status.

You can read more about this process and how Stripe works in our Stripe Guide.

How to manually provide proof of funds

You can upload: 

• Bank account statements
• Brokerage account statements
• Letters from your financial institution stating the account balance.

Loan pre-approval letters and term sheets are not acceptable unless otherwise indicated in the sale listing description and only when utilizing approved lending channels.

A line of credit agreement may be acceptable only if it is already in place, has undrawn capacity, and may be funded immediately without bank approval.

What are the proof of funds requirements?

Your document(s) must include the account holder name, current date, and available or current balance. If the account is in the name of another individual, please upload written authorization from the account holder to allow you to use the funds to bid. If the account is in the name of an entity, please upload the applicable entity formation document, which should show that you have the authority to bind the entity.

You must submit enough proof of funds, which may be a combination of linked bank accounts and uploaded bank statements, to meet the starting bid amount of the properties on which you are registering. We encourage you to submit proof of funds up to the amount you intend to bid, as your bid limit is calculated based on your total proof of funds.

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