Michael
You are right about the English system on many counts. But I was careful to distinguish between the contract law itself and the selling system in use.
Scots contract law is very good. Once the offer is made and accepted, the contract is not binding, but is very difficult to wriggle out of. It becomes binding after the 'conclusion of missives' which is when the solicitors have checked title and ironed out any anomalies to give you a firm contract.
It's getting to this stage that's the problem. It begins with the ridiculous 'offers over' system in which properties are marketed for sale with an 'offers over' price (known as the 'upset price'). This used to be a reasonable guide to what the property was worth and the 'heat' in the market could be gauged by the premium that was offered in excess of the upset price. 10%-20% used to be the norm and in central Edinburgh, a 30%-40% premium was not uncommon.
We now have a situation where agents are marketing properties at a price 35% below their actual worth which leads to people thinking that they can afford the house based on the 'offers over' price+20% when the reality is that they'll need to pay the upset price+45%. This wastes the vendor's time (they conduct the viewings, not the agents) and the purchasers' time since the prospective purchasers can't, in reality, afford the house.
It gets worse. If the interested purchasers want to proceed, they have to submit their sealed bid. But because the bid is legally binding, they would be wise to have the house surveyed before putting the bid in. Therefore, if you have 5 interested purchasers, there will be 5 'homebuyer' or 'valuation' surveys undertaken at a cost of £600-£800 apiece. Only then, will the buyers discover that the property is out of their reach. Even if they can afford it, 4 out of those 5 interested parties will be £800 out of pocket. It adds up when you've gone for, and lost, a auctions.
And then there's the closed shop of people who know people etc. and the fact that the winner of an auction may often have been tipped off as to what they should bid in order to secure the sale.
In a selling system as highly secretive and opaque as the Scottish one, there will always be abuses.
The Scots don't always sell through auction and will quite often reach a mutually convenient price without going to sealed bids. Having been on the sharp end of some dubious practices, we've thrown our toys out of the pram and are seeking to deal outside the auction system if at all possible.
reg