pagey

Could anybody advise me how you go about selling your house this way?

I have about 5 people ( friends , friends of friends etc) interested in my house , someone told me there is a way of selling it where all those interested send in their bids in envelopes and well , the highest bidder wins.. Is there a name for this ? is this normal ? how do i go about it ?
Any help please... cheers

walaj

I would certainly get a solicitor involved. You may find some of these 5 are interested but not serious about going ahead.

I would also get several agents to value the house so you have an idea how much it is worth. Also so these friends don't take the p*ss with their offer price.

I would also find out their situations for those that want to offer - do they have to sell another house, what is their timeframe, do they have finances arranged, how does their position fit in with your plans etc. A lower offer can sometimes be worth more when there are less hassles.

I think the system you are thinking of is the Scottish system. There is a poster who works at an estate agents, but can't remember their user name - so maybe she can correct me.

pagey

Cheers .
Yeah you proberbly right , they might not all be that interested , they just said "Bear me in mind when selling " I will speak to them all on a serious note and even try and get some sort of figure they are thinking about . I`m pretty sure they wouldn`t try and take the p**s cos they are people that we know , however you make a good point about the `chain` because we can`t afford to hang about , we need to validate by Aug and we`re not planning on going on holiday first .
I`ll try a few searches and see what comes up , i might even go and see a solicitor later this week .
Really nee to get the ball rolling i suppose considering the time solicitors take , could be a good few months couldn`t it?

Thank you.