Hmm, kinda love this methodI've lived in a country where this is the standard process.
1) The seller pays for an independent inspection report that is part of the offering / available to all.
2) There is a viewing day or days.
3) There is a day set for bidding. Usually I think noon on a Saturday. It's via text. Buyers are pre qualified with their details / mortgage info. I believe the timer resets with each bid to give everyone a chance to continue. It's around 15-30 minutes.
I like the process and transparency.