At the end of a bidding event, if the property's reserve price has not been met, the property will often enter into the Post Bidding process, and bidders may have an opportunity to continue to make bids on the property.
It is important to note that although Post Bidding properties show a countdown clock (i.e. 6 Days Left!, 3 Days Left!, etc.), these countdowns are intended to explain the longest possible amount of time the property will remain on the website and available to receive Post Bids; the countdown clock is NO GUARANTEE that the property will remain on the site for that entire amount of time, or any amount of time.
Post Bids are presented to the Sellers daily and any Seller may elect to approve any bid at any time resulting in a deal being made with a bidder. If a bid is approved, the property may be removed from the site, regardless of the number of days remaining on the countdown clock.
It is the intention of this site to provide a fair and transparent bid process throughout an auction and also through the Post Bidding period. It is our intention to display all bids as they are received to give all bidders a fair opportunity to compete for a property. However, in some cases, during the Post Bidding process, the Seller may elect to approve a bid as soon as it is placed on the site. In those cases, the property will be considered sold and no additional bids will be reviewed. In other cases, the Seller may elect to continue to review bids up until a Purchase Agreement is formally signed by both Buyer and Seller. In each case, it is the Seller's decision as to how to proceed.
In ALL cases, the Seller reserves the right to review any and all bids up until a Purchase Agreement is signed by both parties. It is the Seller's right to do so, but there is no guarantee that the Seller will exercise that right. There is no obligation for the Seller to review any bids after the reserve price is met, and in most cases, the Seller will not entertain any bids after the reserve price is met.
If the Seller decides to approve a bid during the Post Bidding process, the bidder will receive a telephone call or email notifying them of the approval of their bid. Instructions will be given at that time of the next steps for the completion of the paperwork for that property.