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Accommodation & Property>Estate Agent giving incorrect details
GreeBo 13:34 08-02-2019 (1 Thanks)
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:
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Dav010 13:41 08-02-2019 (1 Thanks)
Auctioneer is not legally required to abide by the conditions on your bid, you don’t have a contract. Right now your bid is the highest bid they have received, and it obviously has not been accepted.

Anyone who now bids will have to bid above asking, the EA will explain that an offer of asking has not been accepted by the vendor.
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GreeBo 13:53 08-02-2019
Originally Posted by Dav010:
Auctioneer is not legally required to abide by the conditions on your bid, you don’t have a contract. Right now your bid is the highest bid they have received, and it obviously has not been accepted.

Anyone who now bids will have to bid above asking.
I dont know if you are misreading me or I'm misreading you but:

Its for sale by Private Treaty, not an auction.
There is no bid of asking, we withdrew it when property was not taken off the market.
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Dav010 13:56 08-02-2019
Originally Posted by GreeBo:
I dont know if you are misreading me or I'm misreading you but:

Its for sale by Private Treaty, not an auction.
There is no bid of asking, we withdrew it when property was not taken off the market.
Asking was bid, and not accepted. If that is the case, then what’s the point of not informing other bidders, the vendor is hardly likely to accept 10k less than asking at the open viewing after not accepting yours. Get over it.

Is it illegal? No.
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sweetie 13:58 08-02-2019 (1 Thanks)
I thought you should never outbid yourself?
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Doop 14:08 08-02-2019 (5 Thanks)
Originally Posted by sweetie:
I thought you should never outbid yourself?
Well if the vendor isn't going to accept your offer why wouldn't you increase your bid in order to get them to accept?

I wouldn't see it as bidding against yourself more so trying to agree a price...same way you might agree a price on second hand car.
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notharrypotter 14:26 08-02-2019 (32 Thanks)
Originally Posted by GreeBo:
in the process of trying to buy a house and have been highest bidder but below the asking for the last 1 month+.

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.
Maybe I am missing something but based on your post you have bid 65K below the asking and are wondering why the vendor will not take you seriously.
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meathstevie 14:34 08-02-2019 (2 Thanks)
If you were in an auction without a reserve set the house would be yours.

In this case though you're trying to negotiate a deal and the people selling simply aren't accepting your offer.

The estate agent is trying to get the vendor a better deal. That's what they've been hired for and the commission is where they make their money.

By the way, I'm not exactly a lover of estate agents but sometimes it's just what it is.
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SteM 14:46 08-02-2019 (1 Thanks)
Originally Posted by GreeBo:
Hey,
....
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.

....
They'll bid what they think the property is worth to them just like you did.

How often does this whole 'offer contingent on taking the property off the market' thing work? People see your man on 'Location' do it and think it'll work for them but in a sellers market I doubt it works that often, especially if the offer is made by someone that has been offering €65k below asking for the last month. He might not think you're a serious buyer to be honest.
[Thank]
GreeBo 14:52 08-02-2019
Originally Posted by Dav010:
Asking was bid, and not accepted. If that is the case, then what’s the point of not informing other bidders, the vendor is hardly likely to accept 10k less than asking at the open viewing after not accepting yours. Get over it.

Is it illegal? No.
They didnt "not accept" our offer based on the price, they didn't accept it because they (now) want to continue the viewings.

We have been repeatedly told up to now that they are holding out for the asking price.
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GreeBo 14:53 08-02-2019
Originally Posted by notharrypotter:
Maybe I am missing something but based on your post you have bid 65K below the asking and are wondering why the vendor will not take you seriously.
Bidding started 250K below asking, we were the only remaining bidder at still 65K below asking. We didn't just come in 65K under.
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GreeBo 14:55 08-02-2019
Originally Posted by meathstevie:
If you were in an auction without a reserve set the house would be yours.

In this case though you're trying to negotiate a deal and the people selling simply aren't accepting your offer.

The estate agent is trying to get the vendor a better deal. That's what they've been hired for and the commission is where they make their money.

By the way, I'm not exactly a lover of estate agents but sometimes it's just what it is.
Thats just it, the estate agent is telling them to accept our previous offer as its the only one on the table after 3 months of being For Sale, nevermind accepting our offer of the asking price.
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GreeBo 14:57 08-02-2019
Originally Posted by SteM:
They'll bid what they think the property is worth to them just like you did.

How often does this whole 'offer contingent on taking the property off the market' thing work? People see your man on 'Location' do it and think it'll work for them but in a sellers market I doubt it works that often, especially if the offer is made by someone that has been offering €65k below asking for the last month. He might not think you're a serious buyer to be honest.
I think most people bid what they think they can get the house for, rather than what its necessarily worth.


They know we are a serious buyer.
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amcalester 15:00 08-02-2019
Doesn’t matter what you bid, what conditions you attach, what the EA advises: if the seller doesn’t want to accept, all you can do is keep looking.
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Treviso 15:01 08-02-2019
it seems to me that you're really banking on buying this house and that the seller knows this. How else do you explain them selling the house starting at the asking price that you're willing to pay - they have nothing to lose it seems.

You probably need to put the offer in at the asking price - give them a deadline to accept or you walk away (and be prepared to walk away)
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