Specifically, my question is if a person is the winning bidder and then does not complete the purchase process, is the hold lifted from the deposit or does auction dot com keep it? I Can't find the info on their website and customer service is closed for the day. I thought I'd try biggerpockets for the answer!
The definition of bid deposit from the auction dot com website is:Bid Deposit
A bid deposit is required to bid on a bank-owned property on Auction.com. The deposit is actually a hold on a credit or debit card. The hold doesn’t appear as a charge on your credit card statement and on a debit card, it appears as a pending charge. The hold is typically removed a few days following the auction but check with your financial institution for the exact date that the hold will be removed. You can register for multiple properties with just one deposit, as long as they’re all in the same auction event. If a property will be auctioned in another event, you will need to authorize a separate deposit.