Scottish politician calls for end to sealed bids
Tue 11th Sep, 15:50:38 BST
A politician has called for an end to the system of sealed bids for people looking to purchase a property in Scotland
Dr Bill Wilson, member of the Scottish parliament for the west of the country, said that sealed bids caused would-be-homeowners a lot of stress and could result in them paying far more than the original asking price in order to secure a property.
"There is no other significant purchase the average person will make which involves secret bids," Dr Wilson said.
He continued: "There is surely no reason why bids could not be open but anonymity retained."
Although anybody looking for a house in Scotland could be affected by the sealed bid system, Dr Wilson said he is "most conscious of the difficulties faced by those trying to buy their first homes", commenting that people his own constituency are finding it difficult to get on the property ladder.
Earlier this year, estate agent chain Ludlowthompson said that sealed bids had become increasingly popular, with a spokesperson suggesting that the system allowed buyers to evaluate what a property is worth to them.
Dr Bill Wilson, member of the Scottish parliament for the west of the country, said that sealed bids caused would-be-homeowners a lot of stress and could result in them paying far more than the original asking price in order to secure a property.
"There is no other significant purchase the average person will make which involves secret bids," Dr Wilson said.
He continued: "There is surely no reason why bids could not be open but anonymity retained."
Although anybody looking for a house in Scotland could be affected by the sealed bid system, Dr Wilson said he is "most conscious of the difficulties faced by those trying to buy their first homes", commenting that people his own constituency are finding it difficult to get on the property ladder.
Earlier this year, estate agent chain Ludlowthompson said that sealed bids had become increasingly popular, with a spokesperson suggesting that the system allowed buyers to evaluate what a property is worth to them.
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