Sunday, July 22, 2007

The War of the Houses

It seems designed to boost uncertainty for potential buyers, inflate housing prices (not to mention commissions) and reduce overall transparency.A hot sellers' market is partly the cause. But there seems to be more quality control and consumer protection when buying a car or a litre of milk than when making the biggest purchase in most people's lives.The way bidding wars are conducted in Toronto is at the heart of the problem. There don't appear to be any rules. In one case we were asked to re-bid because several of the offers were "similar." Similar?

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