Sealed bids - help!

[Jellylorum]

The house we have put an offer on has gone to sealed bids. We offered the full asking price but they've had at least four offers. We are not in a good position as our house is not on the market yet - we were just getting it valued etc when this house came up, and we really like it. The house we've offered on is a good size family home, in a popular location here. It is dated and although we could live in it now it would require work over time. So... would you offer the absolute max to try and get it despite being in a poor position in terms of selling our current house, or would you be cautious or not even bother..? We have until Thursday to decide!

I wouldn't bother in your position to be honest. They will probably get what they want from someone in a better position so your offer would have to be very high.

But I would put in what you can afford just in case, just don't go mad and don't expect to get it.

Don't bother - honestly - your offer isn't real until your house is under offer. They'd be daft to accept regardless of the price you put in. Don't waste your time or theirs.

They dont usually take offers seriously unless you can proceed I'm afraid 😕 we tried a few times.

It seems unrealistic they would accept an offer from you if others are in a better position to proceed.

In any case, I wouldn’t go OTT with your offer. It still needs to be realistic. We had sealed bids on our last house. We accepted a lower offer from a cash buyer, rather than a higher offer from a buyer who needed a mortgage (we didn’t think their valuation would be realistic for the bank).

Good luck OP

Don't bother, the only reason they are letting you bid is so they can try to push the price up with the others. No-one is going to accept an offer from someone whose own house is not under offer.

Depends on your area

I put in a offer along with 4 very similar offers mine being 2% more.

My house wasn’t on the market but was in an area where it would sell right away.

Seller wasn’t in a rush to sell as they hadn’t found a place they liked yet.

I’m now in that house.

What you got to lose? A day or two waiting and a no.

People who bought my old house weren’t STC but they were also in an area with quick sales history.

Do it

Yes definitely go for it! Which region are you in?

Thanks all, it probably is unlikely we'll get it but as some have said we've nothing to lose so we're going to put our offer in anyway. Fingers crossed!