sealed bidding

sophs999

Help!

A solicitor is taking sealed bids for a house of a deceased lady.

Is there any way i can tell if they are going to try and have it for themselves or a friend?

Can i be present when they open the bids or is there any regulations they have to follow or law to make sure it is above board?

googler

England/Wales. or Scotland?

G_M

Try a google search for 'sealed bids solicitor'. You'll get lots of info.

Like this one.

betmunch

I think you will find a solicitor cannot do this unless they want to risk being struck off!

If you are giving sealed bids to a solicitor then you should have the confidence to know it is being handled correctly

googler

What does a 4-year old article that merely alleges something (not quite sure what) about sealed bids add to the discussion.....?

googler

Besides which, I don't follow the OP's reasoning - if the Solicitor wants to acquire the property themselves, or sell it on to someone they prefer to sell it to, why go to the bother of inviting others to bid?

Why not just accept an offer from the other 'someone' behind closed doors and perform the conveyancing?

If the solicitor is selling on behalf of the deceased's executors or beneficiaries, won't they be involved in the decision process, and won't they have some input to selecting the best offer once they're all received?

betmunch

You will also know what you have bid (obviously) and after the property is registered on the land registry there will be umpteen websites waiting to tell you the price it went for so you will ba able to if theres been any foul play.

Put your bid in, and cross your fingers.

Good luck

sophs999

it is in England.

I think she left in the will for it to be sold and proceeds going to people of her choice.

My concern is, the house is in an affluent area and may be sorted out so that a really low price is agreed, regardless of other bidders, of course i would love to have faith that everyone is honest but unfortunately it doesn't work like that all of the time when it comes to financial gain for some people.

i just wondered if there was any fail safe way to make sure this was carried out correctly and honestly?

So is the best advice to just put a bid in and hope for the best then?

Also i shall take a look at that guide thankyou G_M.

betmunch

Also, reading the article, it was an EA rather than a Solicitor handling the example they gave.

Interesting comment from the finance manager lady that got the house. She offered what she could afford, won it, and then seemed upset. If she wasnt happy to buy at the price she offered she shouldnt have offered! Mental!

betmunch

The Fail Safe way to have this administer correctly is to let a reputable solicitor handle it.

We know its a solicitor doing it, have a search to see if they are reputable.

The default setting for solicitors is "honest" so they should be ok!

googler

I'm still not getting this obviously - if the solicitor wants to move the house on at an advantageous price to an insider, WHY INVITE BIDS FROM OTHER PARTIES???