Articles — Posted on 06-10-2022

New bidding platform for commercial real estate

With a new online bidding platform for commercial real estate, the Dutch Association of Real Estate Agents (NVM) aims to bring greater transparency and flexibility to the bidding process. The NVM, VBO (Association of Real Estate Agents), Vastgoedpro (Real Estate Agents), and the Dutch Homeowners' Association (Vereniging Eigen Huis) previously introduced a bidding log for the private real estate market.

The new platform, NVM Online Bidding , offers the option of bidding by tender. A closed auction model is also available: only authorized bidders can see the bids. The platform also features special access for the notaries involved, a data room, and digital identity verification. According to the NVM, the platform ensures that commercial properties or investment properties can be sold more effectively.

Bidding log
With this platform, the NVM is following its previously initiated approach of greater transparency. Since July 1st, prospective buyers who have submitted a bid can view the bidding process in a digital bidding log , following the expiration of the cooling-off period and any resolutive conditions.

Source: Royal Dutch Association of Civil-Law Notaries

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