Putting house up for sale and rather than going to auction or Estate Agents thinking of asking for sealed bids. Do we have to do this through a solicitor and do we have to accept top bid even if it's below what we think is market value of house. And can all bidders ask what was the 'winning' bid?
I think you can specify a reserve figure that needs to be met , as in a normal auction . Sealed bids are just that you don't get to know how much the others have offered .
You'll need to obtain an energy performance certificate before marketing your property. You can go through sealed bids without engaging a solicitor but you may need one to deal with the drawing up of a draft contract and the conveyancing thereafter.
This is so hard to do alone. I don't see why you would bother; 1/ You've to do (and pay) for marketing 2/ You've no way of qualifying if the bidders can afford the actual bid 3/ Who's chasing the solicitors of the winning bidder, because you can't If it's purely the fees you are bothered about then just go with an online agent with a fixed fee. They'll get to your target market quicker and better than you can.
is your house sought after like, are there people queing up to buy it. Are you gonna get a stampede of buyers the second they see the for sale sign. If not, you may not get a single bid. You'll still need to market your house in some way. I understand about not wanting to pay the huge fees with most estata agents. I sold my house this year and used reeds reins, I ended up paying them over 2k. We hasdd loads of viewing from their marketingbut in the end the guy who bought my house saw it when visiting another house he owned on the estate. So I could have used a company like purple bricks and paid just £750. My wifes dad is moving soon and he probably could do it this sealed bid way as he lives in Dewsbury in an area which is becoming more and more asian. They quite often knock on his door asking if he wants to sell his house.
