Overview
Awarding a bid allows you to select a vendor from submitted appraisal bids and formally assign the order. During this process, Mercury Network® confirms the awarded vendor, prepares other bidders for decline, and lets you document award and decline notes. For VMP orders, you can also update the due date or fee and notify the client at the time of award. This article explains how to complete the Award Bid dialog and finalize the bid selection.
When an appraisal bid is selected from the Review bids dialog and the Award bid button is selected, the Award bid dialog is displayed. On this screen, the order is awarded to the selected vendor and any appraiser not yet declined are marked for decline.
The dialog shows the property address, vendor selected for award and vendors who will be marked for decline.
To complete the dialog do the following:
Add an award note
Verify the payment method used to pay the selected appraiser
Add a decline note
For VMP orders, if you'd like to update the due date on the client's order and send a notification, at the bottom of the dialog, place a check next to Update the due date on the VMP XSite and notify client.
Again, for VMP orders, if you'd like to update the fee on the client's order and send a notification, at the bottom of the dialog, place a check next to Update the order fee on the VMP XSite and notify client.
Select the Award button (cancel the award process by selecting the 'Cancel' button).
Note: The appraisers listed in the Decline section will not be notified that they have been declined until the awarded appraiser 'accepts' the award.
When a residential appraisal order is awarded, the appraiser will automatically accept the order. When a commercial appraisal order is awarded, the appraiser will be able to accept or decline the order.
Related article: How to Review Bids for Orders on Mercury Network®
Outcome
After completing these steps, you will be able to award an appraisal bid to the selected vendor, document award and decline notes, and confirm payment details. You will also know how to update the client’s due date or fee when applicable and understand how award acceptance differs for residential and commercial orders. This ensures bids are awarded accurately and orders move forward with the correct vendor and settings in place.