Bidding wars and sealed bids
Quoting Ed Jephson and Charlie Rearden Property Finders
Looking specifically at South Hams, Stacks Property Search reports that the majority of properties between £800,00 and £1.5m in the region are currently going to best and final offers.
Charlie Rearden of Stacks Property Search said, “Best and final offers is becoming standard for desirable properties in a market where demand exceeds supply. It’s never the buyers’ choice.
“It’s used by agents who have a number of competitors for a property and they want to bring the negotiations to a close. Historically it was used when there were several competitors, but increasingly used when agents know there will be competition.”
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