And should buyers be regulated too - so all bids will be binding once the bid is made?OhPinchy said:I totally agree that agents in this country should be regulated
Unless buyers are regulated too, it would be quite easy for an unscrupulous estate agent simply to get his brother or buddy to place offers at higher prices if they wished. In Scotland, I understand that bids by buyers are binding, just like a bid at an auction here.royrogers said:And should buyers be regulated too - so all bids will be binding once the bid is made - No but I do not see why auctioneers should be allowed to lie in order to get a higher prices and doing it by making up that another bidder exists when clearly there is no one else is involved in the bidding.
Easier for all concerned or easier for buyers and more complicated for sellers? There is nothing to stop any seller doing this today.royrogers said:the vendor should provide an up to date survery of the property that is being sold and have all the necessary documents available for the buyer solicitors to look at before it becomes binding. Indeed this make the whole process much easier for all concern.
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