How does the Electronic Bidding Work?
New properties will be listed each day for a thirty (30) day period known as the Initial Listing Period. For the first ten days, the properties will only be available to owner/occupants, non-profit organizations, and government agencies. Bid selections start; on the first business day after the first five days that the property is on the market. This means that if a property is listed on Friday, then the electronic bids received between Friday and Tuesday will be opened on Wednesday morning at 10:00 AM. If a property is not sold in this initial bid opening, then electronic bids will be accepted and opened on a daily basis for the next five days or until an acceptable offer is received. After ten days, the property will be offered to the entire public including investors for an additional 20 days or until an acceptable offer is accepted.
Related Questions
- What procedures should a school district use for the procurement of goods and information services using electronic, on-line bidding?
- What procedures should a charter school use for the procurement of goods and information services using electronic, on-line bidding?
- Who is responsible for errors in the data uploaded in the electronic bidding system in case of public issue?
