Sealed Bids making a comeback

Posted: 4/8/2019

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Sealed bids are making a comeback, so claims one of the UK's largest estate agents. This is where you write down your top bid for a property, place it into a sealed envelope and give it to the agent. On the end date, the agent opens all envelopes and the property is agreed to the highest bidder. In fact we have operated this process twice of late here at Key One Property where there was a lot of interest and multiple bidders. Some people think it's a great idea as it cuts out on lots of lengthy bidding, others are not fans as it can be difficult to pitch your bid right - high enough to see off the other bidders but without over-paying. In fact there is no evidence to suggest that there is any over-inflation of prices, and of course, as part of the private sale process, bidders can still re-negotiate if there are survey issues. If you would like to sell using a sealed bid process, we are happy to advise. OUR SALE FEE IS ONLY 0.5% INC VAT. Contact us to discuss. Note: sale fee subject to £500 minimum fee. Marketing package from £99.

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