How can offer deadlines be specified?

Offers can be specified with or without a deadline. If you are not aware at the time of publishing the listing whether or not multiple offers are likely, you should choose No deadline. If you anticipate multiple offers, you may decide to declare an offer deadline right from the start. You can also start with No deadline and later declare an offer deadline if multiple buyers have expressed interest in submitting an offer. You can set an offer deadline after publishing the listing on Snapdoor.

There are two types of deadlines. The first is the Regular deadline which is the commonly used and familiar type of deadline. The date and time of the offer deadline are published and those who targeted the listing will be notified. You also specify a deadline extension which is defaulted to 0. It works as follows: If no offer that meets the list price has been submitted as of the offer deadline, the Regular deadline is automatically extended by the hours specified. If you specify 0, the listing will revert to No deadline at the offer deadline.

The second type of deadline, the Two-round deadline is a bit more complicated, and we suggest you reach out to Snapdoor support. Here you declare two offer deadlines: an initial-offer deadline and a final-offer deadline. There are two-phases. In the first phase (blind phase) before the initial-offer deadline, buyers only know about the existence of other offers; prices and terms are not revealed.

At the conclusion of the initial-offer deadline, if no offers were submitted, the initial-offer extension kicks in and extends the initial-offer deadline. However, if any offer has been submitted, the sale automatically rolls into the second round (open phase). The sale also rolls into the second round if no offers were submitted but the extension is 0 hours. This second round operates exactly as the Regular deadline as described above.

A Two-round deadline is akin to listing agents setting an initial deadline and then declaring a second best-and-final offer deadline. You should exercise care when setting one. We recommend you contact Snapdoor support.