The Scottish price system works from the bottom upwards; IOW, the
price the seller asks is only the bottom "reserve" for a blind auction
system.

And it is this one significant feature that makes it grossly unfair,
in my opinion. It is a method for cheating buyers out of their
hard-earned wherewithal instead of playing fair with them. Question:
If this is such a wonderful system, why are new homes not sold in this
manner?


How does it cheat buyers? You place a sealed bid with the seller solicitor.
All bids are opened at the closing date/time. The potential buyer knows how
much he can afford and has place a bid based on a survey. The surveyor will
know the state of the market and what price other similar properties have
fetched.

The seller, if asked, will probably indicate what he/she is willing to
accept. I have bought/sold 4 properties in Scotland and it is a much more
straightforward system by far.
I have never been ripped off/cheated and it prevents all the timewasters
(and sometimes corruption) that you get with the English system.

If it is an overheated market then bids can be placed that will be over the
top. But the same happens in England - apparent transparency on bids does
not prevent this happening.

MM seems to have a fixation on offers over.It does not really make any
difference. Price it high or price it low, or even offers over - it will
sell at a price determined by the market and the common sense, or otherwise,
of the parties involved.

Why are eggs, butter, bread, milk, cars, boats, trains, or
planes not sold in this manner?

Why not indeed.




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