'Blind bidding' can prevent gazumping

The house purchasing process in Scotland contains a number of differences to the English system which makes it advantageous to buyers, it has emerged.

According to Russel & Aitken, the system of "blind bidding" - an established practice north of the border, whereby each prospective buyer places a final offer and the property is then sold to the highest bidder - means that "everyone has a fair crack of the whip".

In addition, the way in which contracts are dealt with in Scotland means that agreements become legally binding at a much earlier stage, which can also benefit the buyer and prevent them losing out to a last-minute offer, a spokesperson for the Edinburgh-based solicitor and estate agent firm stated.

"The period being taken for conclusion of missives has been considerably reduced to the benefit of all concerned," said Dianne Paterson, property partner with Russel & Aitken.

"In truth, where there is more than one interested party some fair system needs to be set up and in my opinion the blind bidding system achieves this," she added.

However, the practice has come under criticism recently with Dr Bill Wilson, MSP from the Scottish National Party, claiming that it puts first-time buyers at a disadvantage.

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