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Question for the Scots, are the estate agents legally bound by the sealed bids system ie. the highest bidder gets it for that price? In London it's used to create a frenzy and then extort a bit more from competing bidders. I got chatting to a developer the other day who 'won' a house for £1.2m but by the end of the day spent £1.7m to secure it. Daft bastard.