In Amsterdam, properties are often sold through a sealed bid process. This means that every interested buyer has one opportunity to submit their final offer, usually including both the price and proposed conditions.
After the deadline, the selling agent presents all submitted offers to the seller. The seller then decides, often in consultation with their agent, which offer to accept. The seller may choose the highest bid, the offer with the fewest conditions, or simply the proposal that feels right to them.
This final selection is called the gunning. It’s the moment when the seller awards the property to the chosen buyer. It’s important to note that the seller is never obligated to accept any offer, the decision is entirely at their discretion.