You are reading a single comment by @Brommers and its replies.
Click here to read the full conversation.
-
I reckon some kind of auction system would be better for everyone
If that was the case, why isn't everyone buying houses at auctions? It's not like they don't exist.
Brommers-
Wrong sort of auction and aren’t they legally binding too?
I’d say a system where everyone has a week to submit offers (after viewing) with an autobidding system and agreed minimum increment in place to encourage best offers without the price shooting up through outliers. Make the current price public and crucially the result is subject to survey.
Dramatic_Hammer
It’s a paradox really - £10k looks like nothing on the total cost (and spread over a mortgage period) but it’s a shit load of cash up front and could be an insurmountable barrier if you’re already at your limit.
I reckon some kind of auction system would be better for everyone - market determines price instead of estate agents and overly optimistic sellers.