May. 1st, 2021

We lost two bidding wars set up as blind bidding with deadline time/date (offered $678k for a $630k listing in which we were told we were in top 3 of 8 bids and offered $695k for a $600k listing in which we were told we were the highest bid but the financing condition sunk our bid). 


We finally got a third bid accepted (at asking) and there were no competing bids. The listing agent asked for 72 hours bid expiry, but we made a 48 hour expiry (with financing condition) to prevent another bidding war. I am certain that if the listing had a blind bidding setup we would have had to fight other offers. This is ridiculous.


Here are some recent (and not so recent) news stories about blind bidding: CBC/210501, CBC/190131, Star/210412, Globe/210325 (letters), OttawaCitizen/210420, TVO/210408, TrueCondosPodcast/21030x, VanSun/210402, BNN/210425, FinPost/210423, NOW/210424.



Profile

JMA-PSOS

May 2026

S M T W T F S
      12
3 4567 8 9
1011 1213141516
17 181920 2122 23
24 25 2627282930
31      

Most Popular Tags

Style Credit

Expand Cut Tags

No cut tags
Page generated May. 27th, 2026 09:29 pm
Powered by Dreamwidth Studios