What does it mean when an auction is in "Review" status?

IRESE has the right to verify at any time the accuracy of all statements and information provided by Brokers, and Investors at registration or in connection with auctions and bids. If IRESE is unable to verify material information with respect to an auction or bid, IRESE may cancel an auction, or cancel any or all bids against an auction. IRESE may conduct its review at any time—before, during or after the start of an auction, or before or after the funding of an auction. Part of this verification occurs after the bidding period ends, at the pre-funding stage.

Auctions which have ended with bids totaling 100% of the financing amount may go into a pre-funding review status labeled in "Review" status, in which the auction is reviewed by IRESE's funding team. During this process, which will last no longer than 10 days. Learn more about Real Estate Options verification.

How long does the pre-funding auction review take?

IRESE's pre-funding review can take up to 10 days from the date the bidding period for the auction ends. If IRESE does not receive all requested documents within 10 days from the date the auction ends, the auction will be cancelled and will no longer be displayed, and you will not receive shares as an Investor.

What if a listing doesn't pass auction review?

If an auction does not pass pre-funding auction review, either for lack of response, incomplete documentation, or incorrect documentation, IRESE will cancel the auction. When this happens, the amounts of all winning bids are released to the IRESE accounts of the Investors who placed them, and are available for further bidding. A message is sent to winning Investors notifying them that the auction was cancelled.

What happens when the auction passes review and is cleared for funding?

IRESE's pre-funding review can take up to 10 days from the date the bidding period for the auction ends.

Real Estate Call Options Auction

In case of Real Estate Call Options, the final purchase shares is calculated by dividing the amount of your bid by a winning price per share. The purchase price will be withdrawn from your IRESE account and transferred to IRESE in exchange for the shares. Learn more about Real Estate Call Options disbursement and Real Estate Call Options payments.

If the Real Estate Call Options fails pre-funding clearing, the Real Estate Call Options is cancelled and the amounts of all winning bids are released to the IRESE accounts of the Investors who placed them, and are available for further bidding.

Real Estate Put Options Auction

In case of Real Estate Put Options, the final amount of sold shares is calculated by multiplying the amount of shared you bid by a winning price per share. The final amount will be deposited into your IRESE account. Learn more about Real Estate Put Options disbursement and Real Estate Put Options payments.