Right now the bidding is disabled while they fix the system. No one can bid on anything

Basic idea is you pick a house you want, either for a FC or personal, them put down the full amount of gil needed to buy it. After that you wait until the winners are decided. The bidding period is 5 days, the results period are 4.

You may only bid on 1 house at a time. If you win, you get the house. If you lose, you get a full refund of your gil.