How to place a bid on a home

You read the consumer information, confirm that the bid is binding, verify your identity, and set the amount, acceptance deadline and any conditions — and your bid is submitted.

Remember the most important point: a bid on a home is binding, and there is no cooling-off period. You cannot retract the bid after the seller has received it and before the acceptance deadline has passed. Be sure of your amount before you submit.

How it works, step by step

1. Read the consumer information. Before your first bid you are shown the standard consumer information on bidding, and you confirm that you have read it.
2. Confirm that the bid is binding. You get a clear warning that the bid is binding with no cooling-off period.
3. Verify your identity. At the first bid you confirm who you are. In real-world use this happens with BankID/Vipps; today this step is in demo mode (see below).
4. Set the amount, acceptance deadline and conditions. Enter the bid amount, choose when you want an answer by at the latest (the acceptance deadline), and add any conditions.
5. Submit the bid. The bid is recorded in the bid log with a timestamp.

Amount, acceptance deadline and conditions

Amount: your bid in kroner.
Acceptance deadline: the date and time by which the seller must respond. In a consumer relationship, an estate agent may not convey a bid with a deadline earlier than 12:00 on the first working day after the last viewing — see Acceptance deadline and the 12 o'clock rule.
Conditions: terms, for example a financing condition or the sale of your own home. Many or unusual conditions make the bid less attractive to the seller.

Raising your bid

If you want to raise your bid, use the quick form — you don't need to verify your identity again in the same round. A raised bid should have an acceptance deadline of at least around 30 minutes, so the seller and other bidders have time to react. You see your own bids and the current highest amount; other bidders are shown anonymised.

Demo mode today

Folkemarked does not yet have access to BankID or Vipps, so the identity step is a "Bekreft med Vipps" (Confirm with Vipps) button in demo mode — it always succeeds, and the bid is marked "Demo-modus — ingen ekte betaling eller signering" (Demo mode — no real payment or signing). Once real access is in place, this will be replaced by real signing, without the rest of the flow changing.

Been outbid?

You get an alert when someone bids above you, so you can consider raising.