COB???Informal Recruitment?

[UTAbound]

I will be a freshman in the spring at UTA, and i am planning on going through informal recruitment (COB). I really dont know how it works. Is it only for like two weeks and then you get a bid? and how do they let you know you get a bid? is there a certain day they are suppose to call, because what if you rushing two houses and you like both but you like house b more than house a but house a offers you a bid before house b. Can you wait to see if house b extends a bid or do you pretty much take house a's bid???