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This is how it's done in the Netherlands, actually.
by thiagoperes 9y ago
This is how it's done in the Netherlands, actually.
- jackcarter 9y agoInteresting! I have a question about how it works in practice: In the US, there are often extra considerations beyond the offer price. For example, someone paying in cash can typically offer less than someone who needs a mortgage, due to the lower risk of the offer falling through. Or I might bid less, but require that an aging roof be replaced at the current owners' expense. How do they deal with that in the Netherlands?
- himlion 9y agoI've never encountered it, and I'm a homeowner in the Netherlands. The sealed bid auctions I've seen were all regular ones were if you are the highest bid you have to pay that price.
- EmielMols 9y agoThis is factually incorrect. There are rules regarding the bidding process for buying a property in the Netherlands (Amsterdam model, Haarlem model or closed bidding with deadline), but none of them include a part where the second highest price is used.