Does bidding on Finnting follow the law?

Yes. Bidding on homes on Finnting is built on the same rules that apply everywhere else in Norway — eiendomsmeglingsloven (the Norwegian estate agency act) with its regulations, the requirement for consumer information, a bid log and an acceptance deadline with the 12 o'clock rule. The identity step with Vipps is currently in demo mode; real BankID/Vipps signing will be switched on once access is in place.

This page is for both private individuals who are placing or receiving bids, and for estate agents considering using Finnting. We have made a point of getting property bidding right — it is a legal requirement, not a detail.

Two completely different bidding regimes

Finnting has two ways to "bid", and they are never mixed:

Property — a formal bidding round. Regulated by eiendomsmeglingsloven and its regulations. Bids are binding, there is no cooling-off period, identity must be established, a bid log is kept, and consumer information is provided before the first bid.
Marketplace, cars and boats — an informal offer. Ordinary contract law. An offer is a negotiation and only becomes binding once the parties agree. No bid log, no identity requirement.

The rest of this page is about the formal property bidding round.

Bids are binding — no cooling-off period

A bid on a home is binding from the moment the seller (or the estate agent on the seller's behalf) receives it. There is no right of withdrawal or reflection period on a property bid. You cannot retract a bid that has reached the recipient before the acceptance deadline has passed. That is why we always show a clear warning about this before you submit the bid.

The bid must be in writing and identifiable

A valid bid requires the bidder's identity to be established. In real-world use this happens with BankID or MinID at the first bid. The seller is free to accept or decline any bid, including bids with conditions — if the seller accepts a bid, a binding agreement is formed.

What a bid must contain

Amount — the bid in kroner.
Acceptance deadline — the date and time by which the seller must respond.
Conditions — any terms, for example a financing condition (optional).
The bidder's identity — established at the first bid.
Timestamp — set automatically and recorded in the bid log.

Acceptance deadline and the 12 o'clock rule

The acceptance deadline is when the bidder wants the seller's final answer by. If the deadline passes without acceptance, the bid lapses.

In a consumer relationship, the 12 o'clock 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 rule ensures everyone interested has time to consider. When raising a bid, the acceptance deadline should be at least around 30 minutes, so the seller and other bidders have time to react.

The bid log

Every bidding round is documented in a bid log (budjournal). It is append-only — bids are never edited or deleted; the chronological list is the log. Each entry shows the time, amount, acceptance deadline, conditions, bidder and status (active, declined, accepted or expired).

The log exists in two versions of the same data:

Full — with the bidder's identity — for the seller and estate agent.
Anonymised — without identity — for other bidders and the public.

The parties (buyer and seller) receive the bid log after the sale; other bidders can receive the anonymised version on request. More in What is a bid log?

Consumer information before the first bid

There is a standard consumer information document on bidding (forbrukerinformasjon om budgivning), produced by the industry bodies (including NEF, Forbrukertilsynet and Finans Norge), which explains the rules, rights and obligations in a bidding round. It must be given to the bidder before the first bid. On Finnting you confirm that you have read it in a separate step before the bid form opens.

Identity — and why Vipps is in demo mode today

A valid bid requires an established identity. In real-world use this happens with BankID or MinID. Finnting does not currently have access to BankID or Vipps, so the identity step at the first bid is a "Bekreft med Vipps" (Confirm with Vipps) button in demo mode: it always succeeds, and the bid is clearly marked "Demo-modus — ingen ekte betaling eller signering" (Demo mode — no real payment or signing).

Once real Vipps/BankID access is in place, the demo confirmation will be replaced by the real signing — the rest of the flow is unchanged. We are open about this step being a demo today, so no one believes a real signing is taking place. See Do I have to verify my identity to place a bid?

Private owner-seller or estate agent

Finnting is starting with bidding rounds led by the private owner-seller (FSBO) — the seller runs the round themselves under the same consumer standards. Agent-led bidding rounds only apply once business/agent registration and real BankID are in place. If you are an estate agent: see For estate agents.

The rules are evolving

Prop. 41 L (2024–2025), a Norwegian legislative proposal, proposes changes to eiendomsmeglingsloven concerning, among other things, bidding and suitability requirements. The rules are evolving, and we keep this in line with current law.

This is not legal advice, but an explanation of the rules as we have built them. Before a real, agent-led bidding round goes live, the flow will be reviewed by someone with professional estate agency expertise.