Blind Bidding is where potential home buyers submit a bid without knowing the counter-offers. In the end, this means that the buyer with the accepted offer could end up paying a substantial amount more than what was needed to purchase the property.
Is it possible to ban blind bidding? Read the linked article entitled, “Would a ban of blind bidding make homes more affordable? By Kunal Sawhney in Real Estate Magazine, to gain more insight on this real estate trend.