Some sellers are now asking for sealed bids in order to get the best price for their property from serious buyers with the necessary paperwork in place.

That’s according to the National Association of Estate Agents (NAEA) which is giving tips to would-be buyers unfamiliar with the process.

Jan Hÿtch, president of the NAEA, said: “Sealed bids are often used when interest in a property is high, and it is likely that more than one party could and would wish to purchase. “Buyers often think that if the property goes to sealed bids, the highest bidder will win, but inviting bids doesn’t mean the highest offer always secures the property. “The process involves assessing all the information available to find the buyer that has demonstrated the strongest and most reassuring ability to proceed and complete a sale without any trouble. In order to have the best chance of succeeding in this situation, buyers will need to be well prepared in advance with their finances and paperwork all in order.”

The NAEA offers some advice on how to make a sealed bid.

You need to be open about your situation and ability to purchase, and present your offer demonstrating your commitment and ability to exchange quickly.

Your bid will not only be considered on the amount, but on how likely it is that you will complete without any problems.

Including a list of things that you already have in place such as a reputable solicitor or convey-ancer, a mortgage-in-principle letter from your lender, and a surveyor on standby, will all demonstrate how serious you are in securing the property. This can make your bid more attractive, even if it isn’t the highest.

To avoid ending up making the same bid as someone else, try using unusual numbers like £200,103 instead of £200,000. This can sometimes make the difference between a successful bid and a tied situation.