Maintain Auction Information

Use the Main tab on the Auction tab in the Collateral panel to maintain auction information for a vehicle.

To maintain auction information

1. In the Reference Panel navigation bar, click Available Panels and then click Collateral.

2. Click the tab for the collateral to modify and then click the Auction tab and then click the Main tab.

Repairs

Collateral Repairs Needed: If selected, the vehicle needs repairs.

Sell as is: Indicates whether the vehicle is selling "as is" or in "repaired" condition.

Description: Description of the needed repairs.

Approved: Repair approval date.

Ordered: Repair order date.

Completed: Repair completion date.

Comments: Comments regarding the repairs.

Repaired Value: Monetary value of the vehicle after repairs.

Auction Information

Inspection Date: Date the auction house inspected the vehicle.

Location: Location of the auction house.

Collateral Appraiser Code: Code that identifies the appraiser.

Appraisal Verified: Appraisal verification date.

Buyer PO Number: Vehicle buyer's purchase order number.

Bid Closed: Date bidding on the vehicle closed.

Collateral Avail for Resale: Date the vehicle became available for resale.

Collateral Sold: Date the vehicle sold at auction.

Payment Received: Date your organization received the payment from the auction house.

Collateral Sale Price: Amount the vehicle sold for.

Auction Expense: Fees associated with auctioning the vehicle.

Collateral Stock Number: Stock number the auction house assigned to the vehicle.

Date Appraisal Received: Date your organization received the vehicle appraisal.

Letters

Notice Plan to Sell to Borrower: Date your organization sent a letter to the borrower regarding the intent to sell the vehicle.

Notice Plan to Sell to Co-Borrower: Date your organization sent a letter to the co-borrower regarding the intent to sell the vehicle.

Cancellation Letter Sent: Date your organization sent a letter to the borrower regarding cancellation of the intent to sell the vehicle.

Notice to Maker: Date your organization sent a notice to the lender regarding the intent to sell the vehicle.

Notice to Other: Date your organization sent a notice to another party regarding the intent to sell the vehicle.

Title

Title Ordered Date: Date your organization ordered the vehicle's title.

Title Sent to Auction: Date your organization sent the vehicle's title to the auction house.

Title Received Date: Date the auction house received the vehicle's title.

Auction

Chargeable Damage: Amount charged to the auction house for damage to the vehicle while in their care.

Check #: Number of the check received from the auction house.

Check Amount: Amount of the check received from the auction house.

Repo Sale Date: Date the vehicle is scheduled to sell at auction.

Floor Appraisal Amount: Appraisal amount that the auction house determined for the vehicle.

Repo Auction Phone Number: Auction house phone number.

Repo Auction Contact: Name of the contact person at the auction house.

Repo Auction Address: Address where the auction house is located.

3. Complete the information and then click Save.

Related Topics

Auction

Collateral