PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Sealed bid sale: possible to counteroffer?

2»

Comments

  • lighting_up_the_chalice
    lighting_up_the_chalice Posts: 9,615 Forumite
    iclaudius wrote: »
    Running horse
    I think the point of sealed bids is to get people to over extend themselves in an overheated market. My question here is about circumventing the agents method to get buyers to over pay by hopefully submitting a bid that is incrementally higher, I.e more akin to an eBay auction

    I think what you are talking about, incrementally higher bids akin to eBay, is the surest way to get people to over extend themselves in an overheated market. Who wants to lose a house they really want for the sake of another £500? Repeat for all interested parties.

    "Sealed bids" is used to resolve a sale quickly. Some sellers just don't like the pressure of constantly changing offers being put to them.
  • Running_Horse
    Running_Horse Posts: 11,807 Forumite
    Combo Breaker First Anniversary
    iclaudius wrote: »
    Running horse
    I think the point of sealed bids is to get people to over extend themselves in an overheated market.
    I agree. But a strategy of bidding low then going back with your real bid may lead to disappointment. Come back and let us know how it went.
    Been away for a while.
  • Halle71
    Halle71 Posts: 514 Forumite
    Tenth Anniversary Combo Breaker First Post
    We did and won.
    We lost at best and final bids, immediately upped our offer by £5k and they accepted. We were lucky though and managed to speak to the EA before the 'winner' had been notified.
    Although writing that makes me wonder - would they tell the 'losers' first? Although I was hounding them.....!
  • anselld
    anselld Posts: 8,368 Forumite
    First Post First Anniversary Name Dropper
    Halle71 wrote: »
    We did and won.

    Don't count your chickens too soon!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 346.1K Banking & Borrowing
  • 251.2K Reduce Debt & Boost Income
  • 451.1K Spending & Discounts
  • 238.2K Work, Benefits & Business
  • 613.3K Mortgages, Homes & Bills
  • 174.5K Life & Family
  • 251.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture