Bidding procedure (real estate)

I would find a kind of procedure where everyone can see the current highest bid just acceptable. Otherwise, I am more in favor of desired price - offer - award - notary contract.

As a buyer, clearly. As a seller, the bidding procedure is of course a goldmine.

You have practically inherited a non-buildable meadow in the outskirts. What size of land are we talking about here? It probably won't bring much. Grassland prices range between 1 - 3 euros per square meter. Of course, depending on the region. The bigger, the better.

So we are talking about 4,700 sqm of pasture land in the floodplain with no prospect of development into building land.

These areas are traded at the Lower Rhine at 60 cents to 1.5€ per sqm. That would be, for me - catchment area Düsseldorf - around T€ 3 land value. No one would think of conducting an elaborate bidding procedure.

Of course, that is entirely up to you. You can also do it in two stages, which is the norm with my commercial clients. But what do you actually expect? What amounts are you considering?

Thank you very much for the answers.

The plot is in Braunschweig, about 3800 sqm in size. It should still be within the city area, so it is definitely very easy to reach for people from Braunschweig.

On the one hand, direct neighbors (some probably a bit wealthier) are interested and want to secure the plot (for whatever reasons, to protect the view, for sentimental reasons (children have always played there), as a speculation/investment object, etc.). The plot has been listed for a minimum price of €30,000 for about 2 weeks (edit: since there are already 4 offers of €30,000), and we currently have about 15-20 serious interested parties (emailed several times, reasonable contact, sensible questions, etc.) – with dubious inquiries or interested parties who were no longer interested after viewing, there were even more interested parties.

We have told everyone that we will collect bids at the end of May (until then there are still a few viewing appointments). One interested party has already offered €35,000. The highest bid will then be submitted again to the neighbors, so they can overbid if necessary.

We already had the discussion in another thread: Yes, it makes a noticeable difference to us whether we can get, for example, €5,000 more or not.

I can understand both sides: As a buyer, you don’t know whether we might invent an imaginary bidder to drive up the price (which we of course do not intend to do). But on the other hand, why shouldn’t we as sellers also try to get as much as possible? There are enough very wealthy people in the area (VW) who wouldn’t even notice €10,000 more or less, while for us it would be a blessing...

But also, as already mentioned from the buyer’s perspective, it can be good: If there are several rounds, you are not forced to immediately submit your absolute highest bid. As a buyer, you want to pay as little as possible, even if you are willing to pay more. So you can first offer €35,000 and maybe get lucky and win it, and not immediately offer €50,000 to be on the safe side.

There are pros and cons for both sides, so I wanted to ask here.

Best regards,
Andre

Keyword inherited: how was the inherited land parcel valued as an object of inheritance?

So after the first round, everyone is informed again "Current highest bid is XXX€, does anyone want to bid higher?"

Hello andre_xs

I have thought for a long time about whether to write something about this. And I decided:
You are a person with whom it is better not to do business.
To me, your sales strategies are without character and to be avoided by a serious buyer.
It's a shame that the current situation still allows people like you to do business.

Steven