Vendors: How to respond to a bid opportunity

Mercury Network allows lender and AMC clients to issue bid opportunities for commercial properties. These opportunities differ from standard appraisal orders in that they require the appraiser to submit a bid on the project for review. The client will review all submitted bids and award the order based on their review.

Make sure you are ready to receive commercial bidding opportunities! Click here to see how to setup your account.

Receiving a new bidding opportunity

When a lender or AMC issues you a new bidding opportunity, you will receive an e-mail notification and the new opportunity will appear in the 'Bidding Orders' folder within your Mercury Network account.

View a bidding opportunity

When you locate the bidding opportunity, double-click on the opportunity to review. Review the details of the opportunity including any documents the client has provided. When you are ready to submit your bid, select the Submit bid menu option.

Submitting a bid

When you select the menu option, the Submit bid dialog will display allowing you to submit your proposed fee and turn time for the property.

You will need to complete the following steps:

  1. Enter your proposed fee or indicate 'I am currently unable to bid on this property'
  2. Enter your proposed turn time. Note, the turn will be used to determine the order due date and is the number of days from when you are awarded the order until the report is delivered.
  3. Decide if you would like to include the possible Mercury Network transaction fee in your bid amount
  4. Provide comments or attached any documents you would like or the client has requested
  5. Select Continue

Certify your ability to accept the order

As part of your bid submission, you need to certify your ability to accept the appraisal order. You may either check the item to fully certify or provide comments to the client.

Respond to an awarded bid

When the client awards you an order based on your bid, you will receive an e-mail notifying you of the award. You will need to Accept or Decline the assignment. Access the order via your Mercury Network account and select the Accept/Decline Assignment menu option.

You will be presented with the Order acknowledgement screen to complete the following steps.

  1. Select either 'Yes, I accept this order' or 'No, I must decline this order'
  2. You may provide an optional message to the client
  3. Upload any desired documents or documents requested by the client to accompany your response
  4. Select OK to continue

Doc Details

This document explains how an appraiser receives and responds to a bidding opportunity.

  • Document 2227
  • Created: 12/10/2015 KDH

The Big Picture

An appraiser receives a new bidding opportunity, submits a bid and acknowledges an awarded order.