The three groups bidding for Hearts have all submitted proof of funding to the club's administrator.
Fans' group The Foundation of Hearts were the only party to meet a 17:00 BST deadline on Wednesday set by BDO.
However, lawyers representing HMFC Limited and Five Stars Football Limited indicated that all of the relevant paperwork was on its way.
BDO will then work towards naming a preferred bidder.
That will follow talks with administrators representing the club's main creditors in Lithuania.
Former Livingston owner Angelo Massone is involved with the Five Stars bid, while HMFC Limited is a partnership between US investors and Scottish businessman Bob Jamieson.