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Estate Agent giving incorrect details

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Comments

  • #32
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    Dav010 wrote: »
    Would it be ok if your friend had been told “we have received an offer of asking which has not been accepted?”

    I’m struggling to see what your issue is, you made an offer with unrealistic conditions, it hasn’t been accepted and bidders are being told that a bid of asking price has been made. Surely if the vendor will not accept below asking, the EA is correct to tell other bidders about your bid.

    No, because that is disingenuous.

    There is no bid @ asking price on the table. There is a bid significantly under asking which has not been accepted by the vendor, but there is no higher bid.

    If you think thats an ok practice, why dont all estate agents just make up a bid at asking price on every sale?


  • #33
    Treviso
    Registered Users Posts: 735 ✭✭✭Treviso


    Yea I agree on the EA not being honest with their answers and they shouldn't be doing it. It happens all the time I'm afraid and probably impossible to prove any wrongdoings if they were investigated.

    You need to stop contacting the EA now that you have your bid in, 65k under the asking price. Leave it with them and wait for them to contact you if they want to discuss. By following up with them regularly, they see your asking offer as still being valid (even if you said you withdrew it)


  • #34
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,204 Mod ✭✭✭✭godtabh


    GreeBo wrote: »
    No, because that is disingenuous.

    There is no bid @ asking price on the table. There is a bid significantly under asking which has not been accepted by the vendor, but there is no higher bid.

    If you think thats an ok practice, why dont all estate agents just make up a bid at asking price on every sale?

    There was a bid of asking. Your conditions were not met and you withdrew your bid. Some one still offered asking and it was rejected. EA can state there was a bid and it was refused.

    Tough **** if you didnt get what you want. If you want it agree to the vendors terms. If not its an open market.


  • #35
    Marcusm
    Registered Users Posts: 10,179 ✭✭✭✭Marcusm


    GreeBo wrote: »
    Hey,

    in the process of trying to buy a house and have been highest bidder but below the asking for the last 1 month+.

    In an effort to move it along we made an offer of asking contingent on them taking it off the market now and moving to sale agreed otherwise our previous offer stands.

    The agent is now having an open view tomorrow and on enquiring to the office, people are being told that the current offer is the asking.

    Is this not illegal?

    They are telling people that the asking is €65K more than the actual highest offer meaning that anyone who now bids will start from a much higher price.

    Fuming here.:mad:

    Sorry to say but you screwed up, you should have asked what bid would have resulted in it being taken off the market and open viewing cancelled. He has had a bid and whether you like it or not he can communicate that to other people. Of course if they were to ask what is the current bid as opposed to "what's the highest bid?" he might have to think twice. But no EA thinks twice, spin doctors is what they are. If he comes back to you on Monday and says they'll accept it, you'll probably sign up. Alternatively, having seen you move that much they might ask for a little bit more.


  • #36
    katie275
    Registered Users Posts: 148 ✭✭katie275


    OP, myself and my partner were bidding on a house last year and the agent was adamant they would not accept less than asking. There were no other active bidders. We made a respectable offer that was rejected, so we bowed out.
    Few days later, the agent called me with a reduced counter offer ;) I think you should put that house on the back burner for now, tell them your offer still stands if they wish to reconsider and look at other properties in the meantime. You never know, you could hear from them again if no-one else bites, especially given how long it's been on the market and the way the market is expected to go!


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  • #37
    worker bee
    Registered Users Posts: 97 ✭✭worker bee


    GreeBo wrote: »
    Bidding started 250K below asking...

    Holy crap - how much was the asking? That's a massive variance between the asking and the first offer.


  • #38
    Dav010
    Registered Users Posts: 13,983 ✭✭✭✭Dav010


    GreeBo wrote: »
    No, because that is disingenuous.

    There is no bid @ asking price on the table. There is a bid significantly under asking which has not been accepted by the vendor, but there is no higher bid.

    If you think thats an ok practice, why dont all estate agents just make up a bid at asking price on every sale?

    It may be disingenuous, but it is not illegal.


  • #39
    Sleeper12
    Registered Users Posts: 16,871 ✭✭✭✭Sleeper12


    GreeBo wrote:
    They didnt "not accept" our offer based on the price, they didn't accept it because they (now) want to continue the viewings.


    My first house (close to 30 years ago) they accepted the offer and I put down a deposit. They continued to show the property looking for a higher price even though I had a deposit. This deposit was meaningless. The estate agent wasn't doing anything illegal.


  • #40
    Sleeper12
    Registered Users Posts: 16,871 ✭✭✭✭Sleeper12


    GreeBo wrote:
    Because we are the only bidder and made the bid (with conditions) on Wednesday. We were in touch yesterday evening and nothing had changed so withdrew our offer and reverted to our previous offer. This morning got we someone else to enquire and they were told about an offer @ asking.

    Am I reading this correctly? Your higher bid wasn't accepted so you reverted to an even lower bid?

    Usually when your bid isn't accepted you either withdraw from the bidding process or increase the bid. Lowering the bid isn't likely to secure the sale imo.


  • #41
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    godtabh wrote: »
    There was a bid of asking. Your conditions were not met and you withdrew your bid. Some one still offered asking and it was rejected. EA can state there was a bid and it was refused.

    Tough **** if you didnt get what you want. If you want it agree to the vendors terms. If not its an open market.

    What's a bid of asking?
    I've never heard the term, can you share a link?

    What vendors terms do you think im not agreeing with?

    Also our offer was neither accepted nor rejected.


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  • #42
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,905 Admin ✭✭✭✭✭Toots


    Sleeper12 wrote: »
    Am I reading this correctly? Your higher bid wasn't accepted so you reverted to an even lower bid?

    Usually when your bid isn't accepted you either withdraw from the bidding process or increase the bid. Lowering the bid isn't likely to secure the sale imo.

    Yeah, the whole "offer on the condition it's withdrawn from sale" thing only really works if you're prepared to walk away from it completely and not look back. We did that when we bought our apartment, but the whole thing had been dragging on so long and we were the only bidder at 10k below asking. We said we'll pay the asking if it was off the market by 5pm that day, and after that we were withdrawing all offers and looking elsewhere. We were all set to walk away because it was such a pain we just both decided that we'd give it one last shot and then if it didn't work we'd find something else.


  • #43
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    Sleeper12 wrote: »
    Am I reading this correctly? Your higher bid wasn't accepted so you reverted to an even lower bid?

    Usually when your bid isn't accepted you either withdraw from the bidding process or increase the bid. Lowering the bid isn't likely to secure the sale imo.

    Yeah, a bid with conditions that were not met.
    No different than offering more if they threw in appliances as an example.


  • #44
    Dav010
    Registered Users Posts: 13,983 ✭✭✭✭Dav010


    GreeBo wrote: »
    What vendors terms do you think im not agreeing with?

    Also our offer was neither accepted nor rejected.

    I think it’s fair to assume that if open viewings are being arranged after you made your bid, and they haven’t agreed to your terms to remove it from the market, it hasn’t been accepted.


  • #45
    lawred2
    Registered Users Posts: 24,258 ✭✭✭✭lawred2


    GreeBo wrote: »
    Hey,

    in the process of trying to buy a house and have been highest bidder but below the asking for the last 1 month+.

    In an effort to move it along we made an offer of asking contingent on them taking it off the market now and moving to sale agreed otherwise our previous offer stands.

    The agent is now having an open view tomorrow and on enquiring to the office, people are being told that the current offer is the asking.

    Is this not illegal?

    They are telling people that the asking is €65K more than the actual highest offer meaning that anyone who now bids will start from a much higher price.

    Fuming here.:mad:

    What are you fuming about?

    Why on earth did you outbid yourself?


  • #46
    Sleeper12
    Registered Users Posts: 16,871 ✭✭✭✭Sleeper12


    GreeBo wrote:
    Yeah, a bid with conditions that were not met. No different than offering more if they threw in appliances as an example.

    It's not that the conditions weren't met. Your bid wasn't accepted at all.

    I don't mean this is a bad way but unless you change your whole outlook on bidding I think it will be many, many years before you manage to buy a home. Again I don't mean any disrespect but I can't see the estate agent seeing you as a serious bidder. I'm betting he/she hasn't even asked you for proof of finances yet?


  • #47
    Dav010
    Registered Users Posts: 13,983 ✭✭✭✭Dav010


    lawred2 wrote: »
    What are you fuming about?

    Why on earth did you outbid yourself?

    To be fair, on that I would agree with the op. If he/she was led to believe a bid of asking would seal the deal, then if the op believes the house is worth it then no reason not to increase bid to asking. But there is no point in taking umbrage just because it wasn’t accepted or because EA is telling other bidders a bid of this price is the highest received. Sales fall through for a variety of reasons and buyers can continue to view/bid on other properties up until contracts are signed.


  • #48
    ct5amr2ig1nfhp
    Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    I would stop playing games with the Estate Agent. Give them 24 hours to accept your offer or withdraw it if they don't accept it or do not respond. You've played your hand, the EA knows you really want the house now.
    Ring a day or two later and ask to see other properties from the same EA.
    That's all dependent on you willing to let the property go.


  • #49
    Dav010
    Registered Users Posts: 13,983 ✭✭✭✭Dav010


    Levi Shapely Swine wrote: »
    I would stop playing games with the Estate Agent. Give them 24 hours to accept your offer or withdraw it if they don't accept it or do not respond. You've played your hand, the EA knows you really want the house now.
    Ring a day or two later and ask to see other properties from the same EA.
    That's all dependent on you willing to let the property go.

    Look at the op, he has already made a conditional offer and withdrawn it because it wasn’t accepted.


  • #50
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    worker bee wrote: »
    Holy crap - how much was the asking? That's a massive variance between the asking and the first offer.

    7 figures +


  • #51
    ct5amr2ig1nfhp
    Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Without any condition I meant , showed the OP was too eager for the house.
    Dav010 wrote: »
    Look at the op, he has already made a conditional offer and withdrawn it because it wasn’t accepted.


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  • #52
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    Sleeper12 wrote: »
    It's not that the conditions weren't met. Your bid wasn't accepted at all.

    I don't mean this is a bad way but unless you change your whole outlook on bidding I think it will be many, many years before you manage to buy a home. Again I don't mean any disrespect but I can't see the estate agent seeing you as a serious bidder. I'm betting he/she hasn't even asked you for proof of finances yet?

    I hope you don't rely on gambling as your income.
    The estate agent wants to sell to us, they know wet are serious as we sold our last house so we wouldn't be in a chain. This had been going on for months waiting for the vendor to do something. Proof of funds etc was all done months ago. The agent has advised the vendor to accept our offer on numerous occasions, including the offer@ asking.

    This isn't my first or second for that matter house purchase.


  • #53
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    Levi Shapely Swine wrote: »
    Without any condition I meant , showed the OP was eager for the house.

    How is offering the asking not serious?


  • #54
    Plumbthedepths
    Closed Accounts Posts: 12,653 ✭✭✭✭Plumbthedepths


    GreeBo wrote:
    I hope you don't rely on gambling as your income. The estate agent wants to sell to us, they know wet are serious as we sold our last house so we wouldn't be in a chain. This had been going on for months waiting for the vendor to do something. Proof of funds etc was all done months ago. The agent has advised the vendor to accept our offer on numerous occasions, including the offer@ asking.


    It's fairly obvious the seller feels they can get more for their property, you seem aggrieved that they are unwilling to accept your offer. I suggest you move on and look elsewhere.


  • #55
    Dav010
    Registered Users Posts: 13,983 ✭✭✭✭Dav010


    GreeBo wrote: »
    How is offering the asking not serious?

    I think your bid was the right one to make, at that price you probably are up against a small number of bidders. Buying a house is head wrecking, but you should understand the EA works for the vendor only and serves only the vendor’s interests. The EA cannot accept a bid.

    Hopefully it will backfire and if they come back to you, you know they didn’t get the bid they expected from the open viewing and you might be in a better position to make a conditional or even lower than asking offer.

    Don’t get emotional or fume about it.


  • #56
    ct5amr2ig1nfhp
    Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    I didn't say anything about being serious about the offer? Have you quoted the wrong person?

    You made an offer contingent on a condition. They obviously aren't interested in entertaining your offer, so give them 24 hours to accept it and move on. It sounds like you're emotionally involved now, which the EA now knows.

    By asking about other properties, it may give the impression that you're not actually that invested the property and hopefully they'll ask you to make the same offer.

    GreeBo wrote: »
    How is offering the asking not serious?


  • #57
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    Plumbthedepths wrote: »
    It's fairly obvious the seller feels they can get more for their property, you seem aggrieved that they are unwilling to accept your offer. I suggest you move on and look elsewhere.

    Sure I'm annoyed that they have gone back on what they have said regarding asking, it's annoying but that's their prerogative.

    What'd truly annoying me is the agent telling people the current offer is the asking when it isn't.


  • #58
    GreeBo
    Registered Users Posts: 27,007 ✭✭✭✭GreeBo


    Levi Shapely Swine wrote: »
    I didn't say anything about being serious about the offer? Have you quoted the wrong person?

    You made an offer contingent on a condition. They obviously aren't interested in entertaining your offer, so give them 24 hours to accept it and move on. It sounds like you're emotionally involved now, which the EA now knows.

    Well you said to stop playing games, to me that reads as not serious?


  • #59
    ct5amr2ig1nfhp
    Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    I meant the EAs' game.
    GreeBo wrote: »
    Well you said to stop playing games, to me that reads as not serious?


  • #60
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,204 Mod ✭✭✭✭godtabh


    GreeBo wrote: »
    I hope you don't rely on gambling as your income.
    The estate agent wants to sell to us, they know wet are serious as we sold our last house so we wouldn't be in a chain. This had been going on for months waiting for the vendor to do something. Proof of funds etc was all done months ago. The agent has advised the vendor to accept our offer on numerous occasions, including the offer@ asking.

    This isn't my first or second for that matter house purchase.


    It’s not up to the EA. You played your hand and not have pushed expectations up regarldesss if you agree with it or not. Deal with it.


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  • #61
    Dav010
    Registered Users Posts: 13,983 ✭✭✭✭Dav010


    Levi Shapely Swine wrote: »
    Without any condition I meant , showed the OP was too eager for the house.

    It’s a house on the market for over €1m, the op offered asking, I think the implication is that anyone who offers asking is eager to buy the house. Not sure if that equates to being “too eager”


This discussion has been closed.
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