CREXi vs Ten-X Financing: How to Fund a Won Commercial Bid

By Justin Ashcraft, Principal, Northern Ridge Capital. Last updated July 2026.

CREXi vs Ten-X financing looks almost identical at the loan level. Both platforms run non-contingent auctions with roughly a 30-day close, so the debt you need is the same tool: a fast-close commercial bridge loan lined up before you bid, sized to your maximum bid, written to fund inside the platform's window. What actually differs is the process around the bid, the paperwork the platform wants at registration, and how tight the clock is once you win. Here is how to fund a won commercial bid on either one without losing your deposit.

CREXi vs Ten-X financing: what is the same on both platforms

At the loan level, almost everything. Both platforms run auctions with no financing contingency, a non-refundable deposit wired shortly after you win, and a close inside roughly 30 days of the signed purchase agreement. Ten-X states that closing "will typically occur thirty (30) days after the purchase and sale agreement have been mutually executed" (Ten-X buyer FAQ). CREXi's own Q4 2025 auction report shows most auctions close in 30 days or less, with an average of 44 days from listing to sale (CREXi Auction Q4 2025 results). Either way, the practical answer is the same: you cannot wait for a 60 to 90 day bank approval, so you arrange a fast-close capital source before you register.

CREXi vs Ten-X: how the auction itself differs

The buying process is where the two platforms feel different, and those differences shape the paperwork your financing has to match.

Platform rules change. Confirm current bidding, deposit, and close requirements on the platform's own auction page for the specific property before you register. See disclosures.

How financing a CREXi auction works, step by step

CREXi is a broader marketplace, so an auction property lives alongside conventional listings and negotiated sales. The auction listing tells you exactly what CREXi wants at registration and after the win. In practice the sequence looks like this:

• Read the auction page carefully. Check the deposit amount, the exact close window, and the proof-of-funds format the seller has approved.
• Get pre-arranged debt during diligence. Have a capital source underwrite the property, your equity, and your exit while you are still in the review window, so a real commitment lands before the auction closes.
• Bring proof of funds sized to your bid. Register with either liquid funds documented in the buying entity's name or a real financing commitment written at or above your maximum bid. See our deeper guide on what counts as proof of funds at a commercial auction.
• Close inside the 30-day window. Once you win, the signed PSA and the deposit go in fast, and your capital source funds inside the platform's stated timeline.

How financing a Ten-X auction works, step by step

Ten-X runs a fixed-date auction with a two-day bidding window, and the platform is more explicit that a pre-approval or lending term sheet counts as your qualification to bid. The practical sequence:

• Get qualified before the auction date, not on it. Ten-X wants documentation that you have the funds or a lending term sheet on file before it will let you bid.
• Line up a real commitment sized to your bid. A soft "you may qualify" letter tends to fall short. What you want is an actual bridge term sheet written at or above your maximum bid, with the close window inside the platform's timeline.
• Bid on the auction day. The bidding window is short and public, so decide your walk-away number in advance.
• Close ~30 days after the PSA. Once you win and sign, your capital source funds inside the standard Ten-X window.

Does a bridge loan work on both CREXi and Ten-X?

Yes. A commercial bridge loan is short-term, asset-based financing underwritten on the property, your equity, and your exit, and it is built to fund inside the 15 to 30 day window an auction expects. The exact structure will match the deal (multifamily, retail, industrial, mixed-use), but the underlying tool is the same on either platform. For the mechanics of how a fast close actually happens, see how fast a commercial bridge loan can close.

Where auction buyers get burned on either platform

Three failure modes show up repeatedly, and none of them is CREXi's or Ten-X's fault:

• Registering with a soft pre-qual. A vague pre-qualification letter is not a commitment. Some auctions will not accept it at all, and even if they do, it does not guarantee capital shows up in 30 days.
• Starting financing after the win. The clock starts the second the gavel drops. Beginning underwriting then is what forfeits deposits.
• Assuming one lender's answer is the market. A single direct lender only quotes deals inside its own box. If your asset or your timeline sits outside it, you get a no with the clock running.

Why a debt broker beats a single lender for auction financing

A direct lender can only issue a commitment on the deals that fit its one box, on its one timeline. If your asset or your close date sits outside it, you get a no, and you get it late. Northern Ridge Capital is a broker, not a lender. We put a network of 700+ bridge and commercial lenders in competition for your specific asset, your specific bid size, and the platform's exact close date, then hand you a commitment you can take straight to registration on CREXi or Ten-X. One lender gives you one answer. A broker runs the whole market on your clock.

CREXi vs Ten-X financing FAQ

Do CREXi and Ten-X auctions allow a financing contingency?

No. Both platforms run non-contingent auctions. The winning bidder signs a purchase agreement with no financing contingency and wires a non-refundable deposit shortly after. If your loan falls through, you lose the deposit. That is why financing gets lined up before the auction, not after.

How fast do you have to close on a CREXi or Ten-X auction property?

Roughly 30 days after the signed purchase agreement on either platform, sometimes shorter if the listing specifies. Conventional bank or agency debt physically cannot hit that window, which is why bridge capital is the standard tool for auction closes.

What counts as proof of funds on CREXi vs Ten-X?

Either liquid funds in the buying entity's name or a real financing commitment sized to your bid, with the amount, structure, and close timeline spelled out. See our full guide to proof of funds for a commercial auction.

Can Northern Ridge Capital arrange financing for a CREXi or Ten-X auction?

Yes. We arrange non-contingent bridge financing on commercial real estate auctions across our licensed footprint, in the $5M to $30M range, sized to your bid and written to close inside the platform's window. The earlier you bring us the deal, the more competition we can run.

What size deals do you finance?

We place $5M to $30M in commercial real estate debt across multifamily, retail, industrial, and similar assets. Smaller deals considered by exception. Commercial real estate only.

About

Justin Ashcraft is the principal of Northern Ridge Capital, a commercial real estate debt brokerage placing $5M–$30M in multifamily, retail, industrial, and SBA financing nationwide within its licensed footprint, with $600M+ in deal experience across underwriting and brokerage. Licensed in California, DRE #02093377.

Northern Ridge Capital is a licensed commercial mortgage broker (CA DRE #02093377), not a lender, and arranges financing on commercial real estate only (no residential). Not affiliated with CREXi or Ten-X. Platform rules and timelines change. Confirm current requirements with the platform. For informational purposes only; not financial, legal, or tax advice. Full disclosures.