I'm looking to have a project done and I am thinking about using eLance. My questions is if i get bids am I obligated to choose one of the people/companies or are there any financial repercussions if I back out and don't select one of the people/companies to do the job? I'm not trying to get bids just to get bids, I just have no idea what it would cost to build what I want to build and if I come to find out I can't afford to do what I want to do right now I would hate to be on the hook financially...
Its allowed but it will leave negative impact on your reputation coz the elance community will see you as non serious user coz after the end period but did not chose a winner.
I have had many job posts where I didn't like the results and therefore did not choose a winner. You may keep a few people from bidding the next time, but it is overall understandable. Just don't make it a habit.
I tried to apply for some jobs on there but I guess it was not the way that worked for me because I was just to lazy to write that much before you gat a job
Before posting the bid on there see if you can spend some time researching the forum and finding how if there are other similar projects to yours on elance so you can get some ball park figures.