Winning the Bid

winning the bid

An email notification is sent out to the winning bidder the next business day after the bidding period ends.  A selling agent may also check the status of his or her bid online by logging on to and entering the bid confirmation number. 

As a selling agent, once your offer has been accepted, the EMD (Earnest Money Deposit) and required paperwork must be submitted.  Within 48 hours (2 business days) of offer acceptance, both the EMD must be delivered to the listing broker's office and the required paperwork must be submitted to the asset manager .  If EMD or paperwork is not submitted on time, your contract may be cancelled. To ensure time receipt, overnight the documents and track their delivery.

To avoid delays, make sure the contract is filled out correctly and that there are no errors.  The information that was submitted online must match what you put on paper.  It is a best practice to send the listing broker a copy to review your paperwork before you overnight it to the asset manager. 

Read the next sections to learn about the EMD requirements and required contract paperwork.

Liz Schuyler
Liz Schuyler
4000 Virginia Beach Blvd #164 Virginia Beach VA 23452