Best and final offer after sealed bid, help!?

[UpsyDaaaisy]

I put in a sealed bid on a property I love, it was over the 'guide price' and included a cover letter which included how I'm chain free, got mortgage ready, love the house etc. The estate agent has not emailed saying there was no clear highest bid on the property and they would like best and final bids by Monday. I know what best and final is but what do they mean by no highest bid? Are they just trying to get us to up the price even more by being cheeky? The bid I put in was the highest I was willing to pay and the price it was worth to me. Do I just up my bid by like £100 and see? I really can't afford to be offering thousands more! All this property shenanigins is so draining

Now* not not!

Email the estate agent back. Tell them you are still interested.

Ask how many people are now bidding. Ask if two or more bids in the previous round were exactly the same, to the penny.

ChicChicChicChiclana they have states in the email that all offers will be kept anonymous. I know in the original sealed bit there were 8 people bidding but that's all I know. I will definitely be emailing them to say I'm still interested as I am . Didn't think buying a house would ever be so emotional!

Yes, it's quite right that all offers should remain anonymous. But that doesn't preclude you from asking those two questions.

I expect you have put an offer in of X amount... and are in a great position... another party have probably offered slightly more but arnt in such a strong position.

Difficult decision for the sellers. I imagine they are hoping you up your offer. I doubt £100 would make any difference and you will probably loose the house if they are leaning towards the higher offer.

Depending on how great the gap is between your offers they couldnbe expecting £1000 more or £5000.

Just do exactly what they have asked and submitt your absolute best offer. Its really all you can do?! If you dont have any more to offer tell the estate agent and resubmit your same offer.

Sadly if the other people are offering more and the seller isnt desperstr to sell chain free and asap then the house will ultimately go to who is willing to pay the most!

Good luck x

It just means that several (or even just two) buyers offered the same as you did. Yes, go up by a few hundred. Or stick with your offer and hope that whoever (might) offer more, aer not chain free etc, so the seller may still choose you.

That is everyone, I've upped my offer by 1500 but that really is the max I can afford, I'd be disappointed if I don't get it but I know I've done everything I possibly can now! Fingers crossed

Thanks*

Good luck! Do you know when you'll know? Sounds a stressful process!

keepingbees thank you! They've just said they'll 'be in touch', it's hard not to keep checking my phone every 10 mins! When I'm work it's not so bad but being inside all day with a 2 year old is different

Aargh that's no help you must be tearing your hair out! Fingers crossed for you, come back and update when you know

Unfortunately I didn't get it they said they've gone with someone in a 'better position' than me! A shame really because I had no chain, a 50% deposit and a solicitor and everything lined up! I think my mum is more upset though thinking she nearly had her house back to herself the search continues...

Ah sorry to hear that
I've been house hunting so I know how you feel

This happened to us 5 TIMES! I feel your pain OP, we were in exactly the same position as you with everything lined up, the market where we are is absolutely crazy.

We are now however close to completion on the 6th house and it's without a doubt the best we've seen. Everything happens for a reason so sure you'll find something great soon!

Ah no sorry I can't think who really would've been in a better position than you unless they were totally cash buyers, but they often offer low.
You never know, maybe it will fall through and you'll get a second go, failing that something better will come along. I believe houses are either meant for you or they're not.