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Sealed Bids
Comments
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Who's to say that the highest bid doesn't come from the EA's best friend - knowing that it won't be successful, at a level 10% more than all the real bids. Could be quite costly to you.
Yes but the point is the offer isn't binding. So if it turns out to be more than the OP is willing to pay, he can then withdraw.0 -
I've never smelt so much desperation before! It's only a house....0
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Is there any way I can verify the legitimacy of the other offers? Like a PP said, how do I know the agent isn't lying when they say the highest offer was xyz?
Yeah, only the biggest purchase of our life and somewhere we want to raise our family. Not a big deal.PasturesNew wrote: »I've never smelt so much desperation before! It's only a house....0 -
A friend told me today that referential bids are illegal/invalid?!?!
Oh what do we do?
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Is there any way I can verify the legitimacy of the other offers? Like a PP said, how do I know the agent isn't lying when they say the highest offer was xyz?
You can't. You simply have to just be happy with the price you offer.A friend told me today that referential bids are illegal/invalid?!?!
Your friend knows nothing. There are no rules - if there are any, they are entirely invented by the agent/vendor.
All these silly games around sealed bids and the like are totally meaningless when it comes down to it. Anyone can do anything before exchange of contracts.0
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