Hi all, we have seen a house we are really interested in buying but the sale method is 'Expressions of Interest'.
Has anyone had any experience of this method? I have read up on the internet what it means, it seems as if it is a blind bid/offer and you don't know if anyone else is interested in the property or what they are offering either. There isn't even a price range given for this property so it is very hard as a buyer to know what kind of offer to put in.
If anyone has any experience of this from a buyer's or even a seller's point of view and has any hints or tips (and pitfalls to avoid) it would be much appreciated. I've only ever bought houses the traditional way in the UK where you put in a low-ish offer and then negotiate with the seller to get a mutually agreeable price. This 'expressions of interest' seems to have all the power in the hands of the seller not the buyer, or am I misinterpreting how it works?
Thanks in advance.