ionelv | Canada: blind bidding in real estate market

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.