Bidding procedure (real estate)

  • Erstellt am 2022-05-03 23:06:07

andre_xs

2022-05-03 23:06:07
  • #1
Hello all,
as already explained in another thread, my brother and I have inherited an outdoor/grassland plot, which we would like to sell. It is advertised and some people are interested.

I have heard about the bidding process, where at the end of a deadline all interested parties submit an offer, and the property is sold to the highest bidder.

What I wonder is: why doesn't the seller do several rounds of that? Like in an auction. So after the first round everyone is informed again "Current highest bid is XXX€, does anyone want to bid higher?" I live in England, and here house purchases involve much more back-and-forth negotiations with various interested parties, not just a single round...

Or have I missed something?

Thank you very much & best regards,
Andre

(P.S. If in the wrong forum, please move!)
 

ypg

2022-05-03 23:13:57
  • #2
Why should one adopt the dithering from the English?

- The goal of the bidding process is for the seller to quickly obtain the effectively highest amount.
- The bidding process is also usually secret.
- There could be a second round.
- It is not to be confused with an auction.
 

SoL

2022-05-03 23:21:55
  • #3
Multiple rounds are not a problem. In general, you are quite free.
For example, directly from Immoscout:
 

11ant

2022-05-04 00:42:39
  • #4
Your unshakable belief that of all things a retention pasture will rewrite the history of the most bizarre record bids is truly something admirable!
 

Fuchsbau35

2022-05-04 06:48:10
  • #5
The procedure described above may be contemporary. As a bidder, I would probably feel taken advantage of after several rounds of further price increases. If the offers are not suitable, then the seller should just name their desired price right away. Every interested buyer is free to offer more than the asking desired price to outbid the competition and secure the object. So why all this nonsense with multiple rounds?
 

Tolentino

2022-05-04 06:55:54
  • #6
Well, as a co-bidder, I would also find it annoying not to be able to improve my bid again. If it maybe failed at 5,000 EUR in the end... That's why I find these sealed bid procedures pretty lame. I would find a kind of procedure where everyone can see the current highest bid still acceptable. Otherwise, I am more in favor of asking price - offer - award - notary contract.
 

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