PricePinner
Many newcomers are surprised: in Sweden, a bid on a home is not legally binding. The deal is binding only when both sides sign the contract.
For buyers
- You can withdraw your bid before the contract is signed.
- Another buyer can still win, even after you have the highest bid.
- The seller does not have to sell to the highest bidder, or at all.
For sellers
- The seller can also stop the sale before the contract is signed.
- The seller can choose a buyer for reasons other than the price.
Why this matters for your strategy
Because bids are not binding, bidding can move fast. Some buyers bid high early to scare others away. Others wait until the end.
The best protection is to know your own maximum price before the bidding starts. That number should come from what similar homes really sold for, not from the asking price.
Practise the number
Guessing real final prices is a good way to build that sense. When the bids start to fly, you know if the price is still reasonable.
This post is general information, not legal advice. Ask the estate agent or a lawyer about the rules for your sale.