A bidding round is a regulated, structured way of selling a home. Interested buyers are invited to submit an offer by a set deadline, and everyone bids on the same terms, apart from price and handover date. That is the definition in section 2 of the Danish bidding round order (budbekendtgørelsen), and it describes what a bidding round on a home actually is: a competition with fixed rules.
The rules are set out in Executive Order no. 321 of 29 March 2007 on the sale of real property by bidding round, also known as the bidding round order. A bidding round is also called a tender (licitation), and it is typically used when interest in a home is high, often in popular areas where several people want to buy the same property.
Remember one thing: you are not guaranteed the home, even if you make the highest bid. The seller is free to choose, and a high bid is not the same as an accepted offer. That is why this is about knowing the process, the deadlines and the documents you need to have in order.
Even if you have signed a purchase agreement, the seller can still hold a bidding round. This is because the purchase agreement only becomes binding on the seller once the seller has signed it too. Until then, it is an offer from you.
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