Buying Property Q&A

Posted Jul 17, 2006

This is more common in Scotland. A date is set when all those interested in buying the property must have sent a letter, usually to the vendor's solicitor, with the amount they're willing to pay.

Quite simply the person with the highest bid gets the property. Whilst this method avoids gazumping, bidding wars and the like, you may miss out by only a few pounds on getting property you could have afforded.

This way of buying property requires a good strategy and knowing how much it's really worth to you.

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