how to make a sealed bid on a house??

[billiejo]

Hiya, was wondering if Anyone know the correct procedure in makinga sealed bid for a house, have found the house of our dreams but it seems that it's also 8 other peoples and so they want sealed bids and i don't really know the correct procedure.

ta very much, billiejo.x

No secret really.

Write it down, if you are in a good position ie: first time buyer, no chain, cash buyer, flexible moving date then add that info as well. That might swing it if the seller has some special circumstances...

If you are in a chain then probably don't mention it.

Drop sealed bid into estate agents, cross fingers, arms, legs, eyes and hope for the best.

Good luck.

thanks kaz, the estate agents have said that some have already offered quite considerably over the asking price, some are in a chain, others are not. we are renting cause we have sold but could only go a small amount over the asking price. what i can't understand is why the sellers haven't gone fo the offers which have already gone higher than the guide price?? hate all these games.

Bid what you can afford, the estate agents are playing games.

If I were you, put your bid in just before the end of the auction. Its naughty of them to be opening the bids and reading them, trying to get you to up your offer.

Good luck

This happened to us, and I didn't entirely trust the estate agents were telling the truth. Decide what you can afford, what you really think the house is worth (have a look on one of the websites which gives Land Registry figures of actual sales in the area for comparison) and bid an odd amount, not a round figure say 100,099 rather than 100,000...that way, avoiding identical bids against someone else. Sounds like they are playing games, don't get dragged into it! They'll be keen to sell to you because you're not in a chain. We won our bid btw, and prices went up very quickly afterwards, so glad we gritted our teeth and put in a bid rather than telling them to get stuffed, which is what I was tempted to do. Afterwards the estate agents tried to persuade me I had to arrange my new mortgage through them, which convinced me they weren't very familiar with the truth.

I remember from watching Kirsty and Phil that the more 'good' info you can put in the better. Eg 1st time buyer, no chian, mortgage arranged in principle etc. Plus the 'odd' amount thing. They may have better offers, but if yours is 'better' overall then you stand a chance