BID

How long can a bank consider a bid on a home?
Q. We placed a bid on a bank-owned property ten days ago. We have not, as of yet, received a decision. We suspect the bank, Novastar Mortgage, is holding out for a higher bid. How legal or illegal is this practice?
Asked by mesasa1978 - Tue Jan 8 18:10:14 2008 - - 4 Answers - 0 Comments

A. This is legal. They are taking 90 days in CA right now. Have your real estate broker (not the agent) apply some heat, he may get it pushed faster.
Answered by Landlord - Tue Jan 8 20:06:42 2008

What is the difference between an invitation to bid and a request for proposal?
Q. I've been challenged to obtain 3 bids on a flooring project and I'm not sure if I should write an invitation to bid or a request for proposal. I have already selected the 3 suppliers, called them to make sure they actually perform the work I'm inquiring about.
Asked by Bidder - Sat Jan 12 12:23:07 2008 - - 1 Answers - 0 Comments

A. The terms "invitation to bid" (or invitiation to tender - ITT) and "Request for Proposal" (RFP) are often used interchangeably. ITT is usually for less complex projects where you are primarily request a price quote for a clearly determined project. RFP is usually for more complex projects where factors other than just the best price are involved. The RFP should identify the requirements that you are looking for the respondant to address. I've never heard of anyone being shot for calling an RFP an ITT or vice versa so the terminology is not too important. It sounds like your flooring bid is more of an ITT.
Answered by lbgpaul - Sat Jan 12 16:42:41 2008

How can I raise the bid on the ebay item I am selling or remove it?
Q. I started the bid on the item that I am selling on ebay at .99 because I I thought I had a choice at the end of the auction of whether I wanted to sell it . How does this work? I got one bid for .99 and the item cost me $20 so naturally I do not want to sell it for a few dollars. Help. I only have a few hours left. Thank you.
Asked by Rosie - Thu Nov 8 19:32:04 2007 - - 3 Answers - 0 Comments

A. So sorry but you are just going to have to use this one as a learning curve! You can not place false bids on Your Item!!! That is so bad! Next time you eBay it might be a good idea to place a reserve amount! anyway its only $20.00 you are so lucky some loose big time, because they do not read first!!!... My hubby place a pair of Von-Dutch Men's Jeans on eBay, as we had our own business so he thought he would give that a try too! well they ended up selling for $2.00 so he was out of pocket by $78.00 AUD as he had the closing time on new years day!...lol yeah I know silly and they cost us $20.00 to post them too!!! and to rub salt into the wound they in turn sold them back on eBay for $180.00 so you live and learn:)
Answered by Amy J - Thu Nov 8 19:55:21 2007