A Six Step Process

  1. Initial Engagement. The BAN team completes a cursory review of the assets and consults with the client regarding sale expectations. In order to proceed with an exclusive engagement, these expectations must be reasonable.

  2. Due Diligence. The BAN team prepares the assets for sale on behalf of the seller. Our expert team inspects and analyzes each asset file in order to understand each individual asset. We prepare data tapes, asset summary reports, conduct property inspections, and image files for ease of distribution.

  3. Marketing. We work with the selling institution to determine the best way of marketing the loan portfolio. We can market assets quietly to buyers specifically interested in those assets, or we can broadly market the portfolio to a universe of over 100,000 potential buyers. Each potential buyer receives a redacted data tape to determine initial interest. When an interested buyer provides proof of funds and a Non-Disclosure Agreement (NDA), we provide access to the underwriting package.

  4. Indicative Bid. During the indicative bid stage, interested buyers submit non-binding bids on the assets. The indicative bid stage allows buyers to determine whether their price is within an acceptable range. It also gives sellers additional price discovery. For sellers looking for a quick closing, we recommend only one round of bidding.

  5. Final Bid. After indicative bids, a select group of bidders are then invited to make a binding & final bid. We may also engage in negotiated sales with bidders to move towards a quick closing. Upon making a final bid, buyers must submit a deposit. Winning bidders will be notified within 24 hours.

  6. Closing. Winning bidders close expeditiously on the purchase of assets, typically within 2-3 weeks of the final bid date.

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