Sealed Bids
If several buyers are interested in a property, the offers may have to be made through sealed bids. This is where you all put your offers in writing and they’re supposed to opened at the same time.
If you get involved in a sealed bid, aim to go a little higher than your competitors. Depending on the circumstances you’d probably want to offer more than the asking price. You want to stick out to the sellers.
Just above your competitors would be fine. But beware of bidding too high as sealed bids are known to lead to people paying well over the odds.
Don’t bid a rounded figure but try an odd amount, eg £100,101 will be more effective eg than a rounded £100,000. The point is to avoid a tie with the other bidders.
Don’t forget to put “Subject to contract and without prejudice” at the top of any letters ie your written bid.