Trends of sealed bids across London highlight pockets of high demand for properties
- 17th July 2017
- Buying Property News
How can purchasers navigate the rising trend in sealed bids?
Evidence from ludlowthompsons offices in both South and North London is highlighting the demand for certain categories of property, and increasingly sealed bids for properties are becoming common for those looking to secure a purchase.
The practice further highlights, when seeking to achieve the maximum price, the advantage of instructing a Bricks & Clicks Agent over a purely on-line one who struggle to generate the same fervour for the deal.
Sealed bids, which are confidential, free to submit, and entered to a deadline, bring a number of benefits to those looking to act quickly in a competitive market.
Stephen Ludlow, Chairman at ludlowthompson, says: “With continued strong competition for property, being efficient with your time and money is more important than ever and sealed bids offer a way of managing both.”
“We have recently had over 20 viewings for a single property with half of the viewers submitting sealed bids – all of which targetted the asking price. It’s a competitive market, but all of the prospective buyers can expect a quick turnaround to find out if they’ve been successful.”
“Using a high-street estate agent can be essential to making your sealed bid be successful. Their local knowledge can advise you on the going rates for properties in the area and help you set a price that you are comfortable with, that is also in the best interest of the seller, making it a ‘win-win’ scenario."
With continued strong competition for property, being efficient with your time and money is more important than ever
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