There was an absolutely stunning house on the market near us (though not quite near enough, we decided in the end) recently - stone-built, right next to a ruined abbey in an amazing setting.
We were puzzled by the lowish price which was a lot less than what is usually asked for round here for similar things that are not in such amazing locations.
However, the price advertised was a guide price and it was going to be sealed bids, and they had a specific day for viewings.
This made me realise I know nothing at all about how sealed bids tend to pan out.
My question is, do we assume that they will have expected a much higher price than the guide price? Is that how it tends to work?
(hopefully in a month or two we will be able to see what it went for but the info's not there yet.)
thanks.
this was it in case you're interested. Half a million seems v low despite it needing modernisation.)
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Do sealed bids tend to go higher than the guide price?
18 replies
sethstarkaddersmum · 07/11/2010 09:58
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