What do acceptance deadline and the 12 o'clock rule mean?
The acceptance deadline is the latest point at which you want the seller's answer to your bid — and the 12 o'clock rule protects consumers by preventing an estate agent from conveying a bid with a deadline earlier than 12:00 on the first working day after the last advertised viewing.
Acceptance deadline
When you place a bid, you set an acceptance deadline — the date and time by which the seller must respond. If the deadline passes without the seller accepting, the bid lapses (it becomes declined/expired). The acceptance deadline is stored on each bid and recorded in the bid log.
The 12 o'clock rule — consumer protection
In a consumer relationship, an important rule applies: an estate agent may not convey a bid with an acceptance deadline earlier than 12:00 on the first working day after the last advertised viewing.
The purpose is to give everyone interested time to consider the home and its surroundings before they bid — no one should be pressured into deciding before the viewings are over. Finnting calculates this floor from the last viewing date and shows you a clear warning if the acceptance deadline you set falls before that point.
Deadline when raising a bid
When you raise a bid, the acceptance deadline should be at least around 30 minutes, so the seller and the other bidders have time to react. We remind you of this in the form.
What about "skambud" and "lukket bud"?
The terms exist — a "skambud" is a lowball bid, a "lukket bud" is a closed bid whose amount other bidders can't see — but they carry no special system rules beyond what's described above. The seller is in any case free to accept or decline.
Related: How to place a bid · Does bidding follow the law? · Selling your home.