The practical answer
It is safer to understand the finance position first. A winning bid can create a binding payment deadline while lender checks may still be outstanding.
Confirm the asset, maximum supported amount, eligible fees and remaining funding conditions with the lender. A positive conversation is different from a facility ready to pay.
Allow time for invoices, checks, documents and collection. Auction terms may leave the business liable if finance cannot complete, so do not assume a deadline extension.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
Read: Plan an auction purchase →