Real Estate Crash Course – Step 6: Bidding

Navigate the Swedish bidding process

How Bidding Works

Open bidding: You see other bids, they see yours.
Through the agent: Bids are placed via phone, SMS, or email to the agent ("mäklare").
No official rules: No time limits. Can take hours or days.
Starting price is just a start: Bidding usually starts from the starting price ("utgångspris") or first bid.
Highest bid wins — usually: The seller can choose anyone, not just the highest bidder.
Loan pre-approval required: You need a pre-approval ("lånelöfte") from your bank showing how much you can borrow.
Bids are not binding: You can withdraw your bid anytime before the contract is signed.

Pre-approval, not a guarantee: The bank promises to lend up to a certain amount, but final decision comes later.
Based on your finances: Income, debts, assets determine how much you can borrow.
Validity: Usually valid 3–6 months.
Get it in time: Have it ready before you start bidding on a property.
Final approval comes later: The bank does a final check after you win the bidding.

Register as a bidder: Contact the agent ("mäklare") and register your interest.
Place bids: Via phone, SMS, or email. Ask the agent how they prefer.
Follow the bidding: You'll be notified when someone outbids you.
Be quick: Decide quickly — raise or drop out.
Set a maximum: Set your limit before you start and try to stick to it.

Set your max beforehand: Emotions run high. Have a limit set from the start.
Don't chase forever: There will be other properties. Don't give up everything for one.
Quick responses: Can signal strength — or desperation. Be aware.
Bait pricing: Artificially low starting price ("lockpris") to drive interest. Expect final price well above.
Lowball bid: Bid well below asking price ("skambud"). Can work on stale listings, but may be ignored.

Step 6 of 8