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Old 04.03.2011, 15:15
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Making A Closed Bid Offer

I've bought property here the 'normal' way, i.e., by going through an agent, making a verbal offer, negotiating, coming to terms in principle, blah blah blah, so am fairly confident that I (now ) at least know enough not to do something stoooopid when making an offer this way. This time around, though, I'm toying with the idea of making an offer on a property that will be sold via closed bids - you submit a bid in writing, the sellers will then decide who wins - no negotiation.

So - is there a usual format for such a bid? Does one simply put a figure down on paper, does one submit a sort of Lebenslauf to convince the sellers I'm worthy of the sacred ground, does one submit proof of financing, etc.? How does one address hand-over terms when making an offer this way?

(Getting the offer price right will be important, but I'm guessing - only guessing though - that this might be about more than money.)

Any experience you have had with closed bidding would be most appreciated.
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Old 04.03.2011, 15:23
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Re: Making A Closed Bid Offer

we looked at a couple of places that where closed bids, and the agent made damn sure we knew lots of other people where looking including a property developer, and any bid even close to the asking amount would be waaaaaay too low.

we didn't bother making a bid and walked away, for too much scope for agents and sellers to pull a fast one.
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