There are no statutory rules for how bidding should be conducted. It is up to the seller to decide in collaboration with an Estate agent. We always aim to make bidding as transparent as possible.
As speculator you have continuous access to My Pages, your own password-protected homepage, where you can follow the bidding live and see who are taking part. In some cases you can even submit your own bid. You will also receive regular text messages of any higher bids to enable you to act swiftly and constantly be updated. There are two types of bidding:
Open bidding
In an open bidding, which is the most common form, we present the highest bid at any time to both seller and bidder. The bidders can then outbid each other until the seller says stop. The seller decides who will buy and to what price.
Sealed bidding
In a sealed bidding the bidders are given a certain amount of time to submit their bid, normally in writing. We then show the bids to the seller who decides the outcome. The bidders are not informed of each others’ bids. The Estate agent is an impartial link between seller and buyer and helps both parties to perform the transaction as correctly and smoothly as possible.