According to NAEA Propertymark, there is an average of 13 buyers chasing each property which comes to the market, with almost a quarter of these ending up in sealed bid situations.

At Cheffins we have seen that a strong proportion of properties we bring to the market will end up in sealed bids, often within only a few days of marketing.

With this in mind, Mark Peck, Head of Residential Sales here at Cheffins has provided his top five tips on how to be successful in a sealed bids situation.

1. It’s important to read the instructions which have been issued by the estate agent, particularly when the bid has to be submitted by! And it can be a good idea to call and check that the bid has definitely been received.

2. Sealed bid situations can become somewhat of a beauty parade and the key here is all about being in the best position. Make sure that you have proof of funds and are able to exchange fast and can also offer flexibility on moving dates. You should bid the top amount you are willing to pay and what you genuinely believe the property is worth.

3. If you have sold your property through an online agent, be careful to ensure that they have done their homework when it comes to your chain. Often online agents have not checked all the elements of the chain which can lead to a sale falling through last minute and be aware that if you have sold via an online agent, this may make your offer less appealing to the seller

4. Make your bid an odd number and not just rounded up to the nearest thousand, it could be a question of just a few pounds which puts you ahead of the closest other bidder and also mitigate the chances of offering exactly the same amount as someone else.

5. In some situations it can be wise to write a personal note to the seller, particularly if they are someone who has lived in the property for many years and has an emotional attachment to it. Talking about how much you love the house, how you plan to get involved in the local community or send your children to the local school can help to swing the balance in your favour, however this can occasionally backfire if you go too over the top!

For more information on sealed bids or to view any of the properties we currently are marketing, please do get in touch with your local office. To view the houses currently on sale with Cheffins, click here