What is a bid log?
A bid log (budjournal) is the complete, chronological record of all bids in a bidding round — time, amount, acceptance deadline, conditions, bidder and status — and it is append-only, so nothing is edited or deleted.
What the log contains
Each entry in the bid log shows:
- Time — the timestamp of when the bid came in.
- Amount — the bid in kroner.
- Acceptance deadline — the deadline the seller had to respond by.
- Conditions — any terms.
- Bidder — who placed the bid (in the full version).
- Status — active, declined, accepted or expired.
Append-only — that's why it can be trusted
The bid log is append-only: bids are never changed or deleted. The chronological list of bids is the log. That gives a verifiable, orderly history of the whole round — as the law requires. Finnting does not support secret bids — all bids are recorded in the open bid log.
Two versions of the same data
- The full bid log — with the bidder's identity — is shown to the seller and estate agent.
- The anonymised bid log — without identity — is shown to other bidders and the public. This corresponds to the anonymised bid log that can be handed out.
When do you get the log?
The parties to the transaction — buyer and seller — receive the bid log after the sale. Other bidders can receive the anonymised version on request.
Related: Does bidding follow the law? · How to place a bid · Acceptance deadline and the 12 o'clock rule.